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Condensed consolidating financial information of guarantor and issuers of registered guaranteed securities
 3 Months Ended
Mar. 31, 2014
Notes to Financial Statements [Abstract]  
Schedule Condensed Financial Statements [Text Block]

Note 36 – Condensed consolidating financial information of guarantor and issuers of registered guaranteed securities

The following condensed consolidating financial information presents the financial position of Popular, Inc. Holding Company (“PIHC”) (parent only), Popular North America, Inc. (“PNA”) and all other subsidiaries of the Corporation at March 31, 2014 and December 31, 2013, and the results of their operations and cash flows for periods ended March 31, 2014 and 2013.

PNA is an operating, wholly-owned subsidiary of PIHC and is the holding company of its wholly-owned subsidiaries: Equity One, Inc. and Banco Popular North America (“BPNA”), including BPNA's wholly-owned subsidiaries Popular Equipment Finance, Inc., Popular Insurance Agency, U.S.A., and E-LOAN, Inc.

PIHC fully and unconditionally guarantees all registered debt securities issued by PNA.

Popular International Bank, Inc. (“PIBI”) is a wholly-owned subsidiary of PIHC and is the holding company of its wholly-owned subsidiaries Popular Insurance V.I., Inc. In July 2013, the Corporation completed the sale of Tarjetas y Transacciones en Red Tranred, C.A., which was a wholly owned subsidiary of PIBI.

A potential source of income for PIHC consists of dividends from BPPR and BPNA. Under existing federal banking regulations any dividend from BPPR or BPNA to the PIHC could be made if the total of all dividends declared by each entity during the calendar year would not exceed the total of its net income for that year, as defined by the Federal Reserve Board, combined with its retained net income for the preceding two years, less any required transfers to surplus or to a fund for the retirement of any preferred stock. At March 31, 2014, BPPR could have declared a dividend of approximately $391 million (December 31, 2013 - $504 million). However, on July 25, 2011, PIHC and BPPR entered into a Memorandum of Understanding with the Federal Reserve Bank of New York and the Office of the Commissioner of Financial Institutions of Puerto Rico that requires the approval of these entities prior to the payment of any dividends by BPPR to PIHC. BPNA could not declare any dividends without the approval of the Federal Reserve Board.

 

 

Condensed Consolidating Statement of Financial Condition (Unaudited)       
                
 At March 31, 2014
       All other    
   Popular Inc.PNA subsidiaries and Elimination Popular, Inc.
(In thousands) Holding Co.Holding Co. eliminations entries Consolidated
Assets:              
Cash and due from banks $ 2,305$ 614 $ 387,922 $ (2,924) $ 387,917
Money market investments   29,913  817   1,603,720   (12,017)   1,622,433
Trading account securities, at fair value   1,460  -   357,787   -   359,247
Investment securities available-for-sale, at               
 fair value   204  -   5,768,686   -   5,768,890
Investment securities held-to-maturity, at               
 amortized cost   -  -   139,019   -   139,019
Other investment securities, at lower of cost              
 or realizable value   10,850  4,492   151,214   -   166,556
Investment in subsidiaries   4,997,798  1,719,972   -   (6,717,770)   -
Loans held-for-sale, at lower of cost or               
 fair value   -  -   94,877   -   94,877
Loans held-in-portfolio:              
 Loans not covered under loss sharing               
  agreements with the FDIC   493,115  -   21,701,254   (491,319)   21,703,050
 Loans covered under loss sharing               
  agreements with the FDIC   -  -   2,870,054   -   2,870,054
 Less - Unearned income   -  -   91,273   -   91,273
  Allowance for loan losses   5  -   640,343   -   640,348
 Total loans held-in-portfolio, net   493,110  -   23,839,692   (491,319)   23,841,483
FDIC loss share asset   -  -   833,721   -   833,721
Premises and equipment, net   2,037  -   511,818   -   513,855
Other real estate not covered under loss               
 sharing agreements with the FDIC   -  -   136,965   -   136,965
Other real estate covered under loss               
 sharing agreements with the FDIC   -  -   158,747   -   158,747
Accrued income receivable   122  31   125,803   (61)   125,895
Mortgage servicing assets, at fair value   -  -   156,529   -   156,529
Other assets   68,752  27,165   1,666,806   (15,077)   1,747,646
Goodwill   -  -   647,758   (1)   647,757
Other intangible assets   554  -   42,071   -   42,625
Total assets $ 5,607,105$ 1,753,091 $ 36,623,135 $ (7,239,169) $ 36,744,162
Liabilities and Stockholders' Equity           
Liabilities:               
Deposits:               
 Non-interest bearing $ -$ - $ 6,329,520 $ (2,924) $ 6,326,596
 Interest bearing   -  -   20,939,872   (817)   20,939,055
  Total deposits   -  -   27,269,392   (3,741)   27,265,651
Federal funds purchased and assets              
 sold under agreements to repurchase   -  -   2,219,413   (11,200)   2,208,213
Other short-term borrowings   -  41,319   451,200   (491,319)   1,200
Notes payable   822,616  149,663   534,129   -   1,506,408
Other liabilities   38,742  4,904   988,890   (15,593)   1,016,943
Total liabilities   861,358  195,886   31,463,024   (521,853)   31,998,415
Stockholders' equity:               
Preferred stock   50,160  -   -   -   50,160
Common stock   1,035  2   56,079   (56,081)   1,035
Surplus   4,163,290  4,479,208   6,057,474   (10,528,155)   4,171,817
Retained earnings (accumulated deficit)   688,435  (2,906,205)   (798,325)   3,696,003   679,908
Treasury stock, at cost   (898)  -   -   -   (898)
Accumulated other comprehensive loss,              
 net of tax   (156,275)  (15,800)   (155,117)   170,917   (156,275)
Total stockholders' equity   4,745,747  1,557,205   5,160,111   (6,717,316)   4,745,747
Total liabilities and stockholders' equity $ 5,607,105$ 1,753,091 $ 36,623,135 $ (7,239,169) $ 36,744,162

Condensed Consolidating Statement of Financial Condition      
                
 At December 31, 2013
      All other    
   Popular, Inc.PNA subsidiaries and Elimination Popular, Inc.
(In thousands) Holding Co.Holding Co. eliminations entries Consolidated
Assets:              
Cash and due from banks $ 10,595$ 616 $ 422,967 $ (10,967) $ 423,211
Money market investments   18,721  4,804   839,732   (4,804)   858,453
Trading account securities, at fair value   1,353  -   338,390   -   339,743
Investment securities available-for-sale, at               
 fair value   204  -   5,294,596   -   5,294,800
Investment securities held-to-maturity, at               
 amortized cost   -  -   140,496   -   140,496
Other investment securities, at lower of cost              
 or realizable value   10,850  4,492   166,410   -   181,752
Investment in subsidiaries   4,856,566  1,670,809   -   (6,527,375)   -
Loans held-for-sale, at lower of cost or               
 fair value   -  -   110,426   -   110,426
Loans held-in-portfolio:              
 Loans not covered under loss sharing               
  agreements with the FDIC   521,092  -   21,702,418   (519,500)   21,704,010
 Loans covered under loss sharing               
  agreements with the FDIC   -  -   2,984,427   -   2,984,427
 Less - Unearned income   -  -   92,144   -   92,144
  Allowance for loan losses   304  -   640,251   -   640,555
 Total loans held-in-portfolio, net   520,788  -   23,954,450   (519,500)   23,955,738
FDIC loss share asset   -  -   948,608   -   948,608
Premises and equipment, net   2,135  -   517,381   -   519,516
Other real estate not covered under loss               
 sharing agreements with the FDIC   -  -   135,501   -   135,501
Other real estate covered under loss               
  sharing agreements with the FDIC   -  -   168,007   -   168,007
Accrued income receivable   64  114   131,368   (10)   131,536
Mortgage servicing assets, at fair value   -  -   161,099   -   161,099
Other assets   66,577  19,407   1,642,760   (41,186)   1,687,558
Goodwill   -  -   647,757   -   647,757
Other intangible assets   554  -   44,578   -   45,132
Total assets $ 5,488,407$ 1,700,242 $ 35,664,526 $ (7,103,842) $ 35,749,333
Liabilities and Stockholders' Equity           
Liabilities:               
Deposits:               
 Non-interest bearing $ -$ - $ 5,933,649 $ (10,967) $ 5,922,682
 Interest bearing   -  -   20,793,267   (4,804)   20,788,463
  Total deposits   -  -   26,726,916   (15,771)   26,711,145
Assets sold under agreements to repurchase   -  -   1,659,292   -   1,659,292
Other short-term borrowings   -  -   920,700   (519,500)   401,200
Notes payable   822,351  149,663   612,740   -   1,584,754
Other liabilities   39,906  39,245   728,899   (41,258)   766,792
Total liabilities   862,257  188,908   30,648,547   (576,529)   31,123,183
Stockholders' equity:               
Preferred stock   50,160  -   -   -   50,160
Common stock   1,034  2   56,079   (56,081)   1,034
Surplus   4,161,625  4,479,208   6,056,774   (10,527,455)   4,170,152
Retained earnings (accumulated deficit)   602,957  (2,940,509)   (907,972)   3,839,954   594,430
Treasury stock, at cost   (881)  -   -   -   (881)
Accumulated other comprehensive               
 loss, net of tax   (188,745)  (27,367)   (188,902)   216,269   (188,745)
Total stockholders' equity   4,626,150  1,511,334   5,015,979   (6,527,313)   4,626,150
Total liabilities and stockholders' equity $ 5,488,407$ 1,700,242 $ 35,664,526 $ (7,103,842) $ 35,749,333

Condensed Consolidating Statement of Operations (Unaudited)         
                 
    Quarter ended March 31, 2014
        All other       
   Popular, Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands) Holding Co.Holding Co.eliminationsentriesConsolidated
Interest income:                
 Loans $ 562 $ - $ 401,912 $ (541) $ 401,933
 Money market investments   7   3   972   (9)   973
 Investment securities   166   80   34,881   -   35,127
 Trading account securities   -   -   5,257   -   5,257
  Total interest income   735   83   443,022   (550)   443,290
Interest expense:               
 Deposits   -   -   29,394   (2)   29,392
 Short-term borrowings   -   217   9,372   (548)   9,041
 Long-term debt   26,054   2,707   3,129   -   31,890
  Total interest expense   26,054   2,924   41,895   (550)   70,323
Net interest (expense) income    (25,319)   (2,841)   401,127   -   372,967
Provision for loan losses- non-covered loans   (208)   -   47,566   -   47,358
Provision for loan losses- covered loans   -   -   25,714   -   25,714
Net interest (expense) income                
 after provision for loan losses   (25,111)   (2,841)   327,847   -   299,895
Service charges on deposit accounts   -   -   41,250   -   41,250
Other service fees   -   -   54,110   (67)   54,043
Mortgage banking activities   -   -   3,681   -   3,681
Trading account profit    21   -   1,956   -   1,977
Net gain on sale of loans, including valuation                
 adjustments on loans held-for-sale   -   -   11,776   -   11,776
Adjustments (expense) to indemnity reserves                
 on loans sold   -   -   (10,347)   -   (10,347)
FDIC loss share (expense) income   -   -   (24,206)   -   (24,206)
Other operating income    3,401   661   24,329   -   28,391
  Total non-interest income    3,422   661   102,549   (67)   106,565
Operating expenses:               
Personnel costs   8,309   -   104,845   -   113,154
Net occupancy expenses   932   -   24,759   -   25,691
Equipment expenses   941   -   10,841   -   11,782
Other taxes   184   -   13,540   -   13,724
Professional fees   3,046   1,004   65,809   (67)   69,792
Communications   127   -   6,807   -   6,934
Business promotion   411   -   11,271   -   11,682
FDIC deposit insurance   -   -   11,973   -   11,973
Other real estate owned (OREO) expenses    -   -   6,187   -   6,187
Other operating expenses   (13,768)   109   37,666   (643)   23,364
Amortization of intangibles   -   -   2,504   -   2,504
  Total operating expenses   182   1,113   296,202   (710)   296,787
(Loss) income before income tax and equity in                
 earnings of subsidiaries   (21,871)   (3,293)   134,194   643   109,673
Income tax (benefit) expense    (834)   -   23,847   251   23,264
(Loss) income before equity in earnings of               
 subsidiaries   (21,037)   (3,293)   110,347   392   86,409
Equity in undistributed earnings of               
 subsidiaries   107,446   37,597   -   (145,043)   -
Net income $ 86,409 $ 34,304 $ 110,347 $ (144,651) $ 86,409
Comprehensive income, net of tax $ 118,879 $ 45,871 $ 144,132 $ (190,003) $ 118,879

Condensed Consolidating Statement of Operations (Unaudited)         
                 
    Quarter ended March 31, 2013
        All other       
  Popular, Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.eliminationsentriesConsolidated
Interest income:               
 Loans $ 1,009 $ - $ 385,049 $ (132) $ 385,926
 Money market investments   38   1   955   (39)   955
 Investment securities   4,146   81   36,507   (2,911)   37,823
 Trading account securities   -   -   5,514   -   5,514
  Total interest income   5,193   82   428,025   (3,082)   430,218
Interest expense:               
 Deposits   -   -   38,358   (2)   38,356
 Short-term borrowings   -   -   9,950   (168)   9,782
 Long-term debt   24,758   7,276   6,645   (2,912)   35,767
  Total interest expense   24,758   7,276   54,953   (3,082)   83,905
Net interest (expense) income   (19,565)   (7,194)   373,072   -   346,313
Provision for loan losses- non-covered loans   (40)   -   206,340   -   206,300
Provision for loan losses- covered loans   -   -   17,556   -   17,556
Net interest (expense) income               
 after provision for loan losses   (19,525)   (7,194)   149,176   -   122,457
Service charges on deposit accounts   -   -   43,722   -   43,722
Other service fees   -   -   56,154   (61)   56,093
Mortgage banking activities   -   -   20,300   -   20,300
Trading account profit (loss)   76   -   (1,060)   -   (984)
Net loss on sale of loans, including valuation                
 adjustments on loans held-for-sale   -   -   (62,719)   -   (62,719)
Adjustments (expense) to indemnity reserves                
 on loans sold   -   -   (16,143)   -   (16,143)
FDIC loss share (expense) income    -   -   (26,266)   -   (26,266)
Other operating income    870   2,562   16,621   1   20,054
  Total non-interest income    946   2,562   30,609   (60)   34,057
Operating expenses:               
Personnel costs   7,379   -   108,610   -   115,989
Net occupancy expenses   828   1   22,644   -   23,473
Equipment expenses   1,080   -   10,870   -   11,950
Other taxes   83   -   11,503   -   11,586
Professional fees   2,311   22   68,225   (61)   70,497
Communications   93   -   6,739   -   6,832
Business promotion   430   -   12,487   -   12,917
FDIC deposit insurance   -   -   9,280   -   9,280
Other real estate owned (OREO) expenses    -   -   46,741   -   46,741
Other operating expenses   (12,615)   108   35,089   (617)   21,965
Amortization of intangibles   -   -   2,468   -   2,468
  Total operating expenses   (411)   131   334,656   (678)   333,698
Loss before income tax                
 and equity in earnings of subsidiaries   (18,168)   (4,763)   (154,871)   618   (177,184)
Income tax expense (benefit)   515   -   (57,577)   185   (56,877)
Loss before equity in earnings of subsidiaries   (18,683)   (4,763)   (97,294)   433   (120,307)
Equity in undistributed (losses) earnings               
 of subsidiaries   (101,624)   13,946   -   87,678   -
Net (loss) Income  $ (120,307) $ 9,183 $ (97,294) $ 88,111 $ (120,307)
Comprehensive (loss) income, net of tax $ (139,447) $ 2,156 $ (119,034) $ 116,878 $ (139,447)

Condensed Consolidating Statement of Cash Flows (Unaudited)

 

      Quarter ended March 31, 2014
          All other    
      Popular, Inc. PNA subsidiaries Elimination Popular, Inc.
(In thousands) Holding Co. Holding Co. and eliminations entries Consolidated
               
Cash flows from operating activities:           
               
Net income $ 86,409$ 34,304$ 110,347$ (144,651)$ 86,409
               
Adjustments to reconcile net income to net           
 cash (used in) provided by operating activities:          
 Equity in undistributed earnings of subsidiaries  (107,446)  (37,597)  -  145,043  -
 Provision for loan losses   (208)  -  73,280  -  73,072
 Amortization of intangibles  -  -  2,504  -  2,504
 Depreciation and amortization of premises and          
  equipment  157  -  11,808  -  11,965
 Net accretion of discounts and amortization          
  of premiums and deferred fees   265  -  (39,836)  -  (39,571)
 Fair value adjustments on mortgage servicing rights  -  -  8,096  -  8,096
 FDIC loss share expense  -  -  24,206  -  24,206
 Adjustments (expense) to indemnity reserves on           
  loans sold  -  -  10,347  -  10,347
 Earnings from investments under the equity          
  method  (3,401)  (661)  (12,868)  -  (16,930)
 Deferred income tax (benefit) expense  (1,577)  -  15,224  251  13,898
 Loss (gain) on:          
   Disposition of premises and equipment  -  -  (1,671)  -  (1,671)
   Sale of loans, including valuation adjustments on           
    loans held for sale and mortgage banking activities  -  -  (18,953)  -  (18,953)
   Sale of foreclosed assets, including write-downs  -  -  (1,199)  -  (1,199)
 Acquisitions of loans held-for-sale  -  -  (76,125)  -  (76,125)
 Proceeds from sale of loans held-for-sale  -  -  45,115  -  45,115
 Net originations on loans held-for-sale  -  -  (179,057)  -  (179,057)
 Net (increase) decrease in:          
   Trading securities  (107)  -  219,104  -  218,997
   Accrued income receivable  (58)  83  5,564  52  5,641
   Other assets  1,488  (7,096)  30,505  (26,360)  (1,463)
 Net increase (decrease) in:          
   Interest payable  2,080  (2,632)  (2,076)  (52)  (2,680)
   Pension and other postretirement benefits           
    obligations  -  -  (1,562)  -  (1,562)
   Other liabilities  (3,245)  (31,708)  8,043  25,717  (1,193)
Total adjustments  (112,052)  (79,611)  120,449  144,651  73,437
Net cash (used in) provided by operating activities  (25,643)  (45,307)  230,796  -  159,846
               
Cash flows from investing activities:          
 Net (increase) decrease in money market investments   (11,192)  3,986  (763,988)  7,214  (763,980)
 Purchases of investment securities:          
   Available-for-sale  -  -  (436,233)  -  (436,233)
   Other  -  -  (34,768)  -  (34,768)
 Proceeds from calls, paydowns, maturities and          
  redemptions of investment securities:          
   Available-for-sale  -  -  194,949  -  194,949
   Held-to-maturity  -  -  1,888  -  1,888
   Other  -  -  49,964  -  49,964
 Net repayments on loans   27,886  -  205,955  (28,181)  205,660
 Proceeds from sale of loans  -  -  42,238  -  42,238
 Acquisition of loan portfolios   -  -  (201,385)  -  (201,385)
 Net payments from FDIC under loss sharing          
  agreements  -  -  81,327  -  81,327
 Acquisition of premises and equipment  (72)  -  (10,945)  -  (11,017)
 Proceeds from sale of:          
   Premises and equipment  13  -  6,372  -  6,385
   Foreclosed assets  -  -  38,830  -  38,830
Net cash provided by (used in) investing activities  16,635  3,986  (825,796)  (20,967)  (826,142)
               
Cash flows from financing activities:          
 Net increase (decrease) in:          
   Deposits  -  -  547,943  12,029  559,972
   Federal funds purchased and assets sold           
    under agreements to repurchase  -  -  560,121  (11,200)  548,921
   Other short-term borrowings  -  41,319  (469,500)  28,181  (400,000)
 Payments of notes payable   -  -  (110,514)  -  (110,514)
 Proceeds from issuance of notes payable  -  -  31,905  -  31,905
 Proceeds from issuance of common stock  1,666  -  -  -  1,666
 Dividends paid  (931)  -  -  -  (931)
 Net payments for repurchase of common stock  (17)  -  -  -  (17)
Net cash provided by financing activities  718  41,319  559,955  29,010  631,002
Net decrease in cash and due from banks  (8,290)  (2)  (35,045)  8,043  (35,294)
Cash and due from banks at beginning of period  10,595  616  422,967  (10,967)  423,211
Cash and due from banks at end of period$ 2,305$ 614$ 387,922$ (2,924)$ 387,917

Condensed Consolidating Statement of Cash Flows

      Quarter ended March 31, 2013
          All other    
      Popular, Inc. PNA subsidiaries Elimination Popular, Inc.
(In thousands) Holding Co. Holding Co. and eliminations entries Consolidated
               
Cash flows from operating activities:           
               
Net (loss) income $ (120,307)$ 9,183$ (97,294)$ 88,111$ (120,307)
               
Adjustments to reconcile net (loss) income to net           
 cash (used in) provided by operating activities:          
 Equity in undistributed losses (earnings) of subsidiaries  101,624  (13,946)  -  (87,678)  -
 Provision for loan losses   (40)  -  223,896  -  223,856
 Amortization of intangibles  -  -  2,468  -  2,468
 Depreciation and amortization of premises and          
  equipment  162  1  12,091  -  12,254
 Net accretion of discounts and amortization          
  of premiums and deferred fees   8,034  19  (22,310)  -  (14,257)
 Fair value adjustments on mortgage servicing rights  -  -  5,615  -  5,615
 FDIC loss share expense  -  -  26,266  -  26,266
 Adjustments (expense) to indemnity reserves on           
  loans sold  -  -  16,143  -  16,143
 Earnings from investments under the equity          
  method  (870)  (2,563)  (6,161)  -  (9,594)
 Deferred income tax expense (benefit)  136  -  (60,849)  185  (60,528)
 (Gain) loss on:          
   Disposition of premises and equipment  -  -  (1,468)  -  (1,468)
   Sale of loans, including valuation adjustments on           
    loans held for sale and mortgage banking activities  -  -  48,959  -  48,959
   Sale of foreclosed assets, including write-downs  -  -  38,363  -  38,363
 Acquisitions of loans held-for-sale  -  -  (15,335)  -  (15,335)
 Proceeds from sale of loans held-for-sale  -  -  51,000  -  51,000
 Net originations on loans held-for-sale  -  -  (382,810)  -  (382,810)
 Net (increase) decrease in:          
   Trading securities  (164)  -  423,400  -  423,236
   Accrued income receivable  (730)  81  (9,065)  (101)  (9,815)
   Other assets  (264)  47  24,806  3,592  28,181
 Net increase (decrease) in:          
   Interest payable  -  1,809  (2,040)  (24)  (255)
   Pension and other postretirement benefits           
    obligations  -  -  1,470  -  1,470
   Other liabilities  (2,427)  (3)  (26,619)  463  (28,586)
Total adjustments  105,461  (14,555)  347,820  (83,563)  355,163
Net cash (used in) provided by operating activities  (14,846)  (5,372)  250,526  4,548  234,856
               
Cash flows from investing activities:          
 Net increase in money market investments   (54)  (368)  (258,610)  368  (258,664)
 Purchases of investment securities:          
   Available-for-sale  -  -  (736,069)  -  (736,069)
   Held-to-maturity  -  -  (250)  -  (250)
   Other  -  -  (49,018)  -  (49,018)
 Proceeds from calls, paydowns, maturities and          
  redemptions of investment securities:          
   Available-for-sale  -  -  497,175  -  497,175
   Held-to-maturity  -  -  2,078  -  2,078
   Other  -  -  35,884  -  35,884
 Net repayments on loans   26,255  -  468,008  (25,954)  468,309
 Proceeds from sale of loans  -  -  43,044  -  43,044
 Acquisition of loan portfolios   -  -  (1,026,485)  -  (1,026,485)
 Net payments to FDIC under loss sharing          
  agreements  -  -  (107)  -  (107)
 Return of capital from equity method investments  -  438  -  -  438
 Capital contribution to subsidiary  (8,300)  -  -  8,300  -
 Mortgage servicing rights purchased  -  -  (45)  -  (45)
 Acquisition of premises and equipment  (145)  -  (11,838)  -  (11,983)
 Proceeds from sale of:          
   Premises and equipment  26  -  4,179  -  4,205
   Foreclosed assets  -  -  71,930  -  71,930
Net cash provided by (used in) investing activities  17,782  70  (960,124)  (17,286)  (959,558)
               
Cash flows from financing activities:          
 Net increase (decrease) in:          
   Deposits  -  -  4,866  (8,661)  (3,795)
   Assets sold under agreements to          
    repurchase  -  -  248,923  -  248,923
   Other short-term borrowings  -  -  289,000  26,000  315,000
 Payments of notes payable   -  (3,000)  (45,281)  -  (48,281)
 Proceeds from issuance of notes payable  -  -  14,882  -  14,882
 Proceeds from issuance of common stock  1,545  -  -  -  1,545
 Dividends paid  (620)  -  -  -  (620)
 Net payments for repurchase of common stock  (25)  -  -  -  (25)
 Capital contribution from parent  -  8,300  -  (8,300)  -
Net cash provided by financing activities  900  5,300  512,390  9,039  527,629
Net increase (decrease) in cash and due from banks  3,836  (2)  (197,208)  (3,699)  (197,073)
Cash and due from banks at beginning of period  1,103  624  439,552  (1,916)  439,363
Cash and due from banks at end of period$ 4,939$ 622$ 242,344$ (5,615)$ 242,290