Parent Company Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2011

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

	BALANCE SHEETS
		2011		2010
		($ in Thousands)
ASSETS
Cash and due from banks		$	126,835	$	207
Investment securities available for sale, at fair value			66,769		7,581
Notes receivable from subsidiaries			47,230		439,226
Investment in subsidiaries			3,277,693		3,072,227
Other assets			76,037		101,463
	Total assets	$	3,594,564	$	3,620,704

LIABILITIES AND STOCKHOLDERS’ EQUITY
Senior notes, at par		$	430,000	$	0
Junior subordinated debentures, at par			211,340		211,340
Subordinated debt, at par			25,821		195,821
Long-term funding capitalized costs			7,750		4,123
	Total long-term funding		674,911		411,284
Accrued expenses and other liabilities			53,859		50,629
	Total liabilities		728,770		461,913
Preferred equity			63,272		514,388
Common equity			2,802,522		2,644,403
	Total stockholders’ equity		2,865,794		3,158,791
	Total liabilities and stockholders’ equity	$	3,594,564	$	3,620,704

Parent Company Income Statement

STATEMENTS OF INCOME (LOSS)

	For the Years Ended December 31,
	2011		2010		2009
	($ in Thousands)
INCOME
Dividends from subsidiaries	$	-	$	4,000	$	9,900
Management and service fees from subsidiaries		54,242		47,238		44,596
Interest income on notes receivable		2,306		4,951		9,543
Other income		5,289		1,181		1,429
Total income		61,837		57,370		65,468
EXPENSE
Interest expense on borrowed funds		39,072		30,608		31,289
Provision for loan losses		-		-		(230)
Personnel expense		38,258		34,652		29,359
Other expense		16,603		21,210		16,416
Total expense		93,933		86,470		76,834
Loss before income tax benefit and equity in
undistributed income (loss)		(32,096)		(29,100)		(11,366)
Income tax benefit		(17,788)		(7,137)		(4,319)
Loss before equity in undistributed net income (loss) of subsidiaries		(14,308)		(21,963)		(7,047)
Equity in undistributed net income (loss) of subsidiaries		154,007		21,107		(124,812)
Net income (loss)		139,699		(856)		(131,859)
Preferred stock dividends and discount accretion		24,830		29,531		29,348
Net income (loss) available to common equity	$	114,869	$	(30,387)	$	(161,207)

Parent Company Statement of Cash Flows

STATEMENTS OF CASH FLOWS

		For the Years Ended December 31,
		2011		2010			2009
		($ in Thousands)
OPERATING ACTIVITIES
Net income (loss)		$	139,699		$	(856)		$	(131,859)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating
	activities:
	(Increase) decrease in equity in undistributed net income (loss) of subsidiaries		(154,007)			(21,107)			124,812
	Depreciation and amortization		171			254			300
	Loss on sales of investment securities, net of impairment write-downs		81			799			477
	Gain on sales of assets, net		(13)			-			-
	Net change in other assets and other liabilities		25,356			40,469			(9,554)
Capital contributed to subsidiaries			-			(200,000)			(100,000)
Net cash provided by (used in) operating activities			11,287			(180,441)			(115,824)
INVESTING ACTIVITIES
Proceeds from sales of investment securities			14,667			-			-
Purchase of investment securities			(75,221)			-			-
Net cash paid in acquisition of subsidiary’s stock			-			-			(200,000)
Net (increase) decrease in notes receivable			391,996			(232,499)			411,517
Purchase of other assets, net of disposals			4,977			(5,204)			(4,667)
Net cash provided by (used in) investing activities			336,419			(237,703)			206,850
FINANCING ACTIVITIES
Proceeds from issuance of long-term funding			432,504			-			-
Repayment of long-term funding			(170,000)			(30,000)			-
Proceeds from issuance of common stock			-			478,358			-
Proceeds from issuance of preferred stock			63,272			-			-
Redemption of preferred stock			(525,000)			-			-
Cash dividends			(21,195)			(33,198)			(86,600)
Purchase of common stock			(659)			(830)			(599)
Net cash provided by (used in) financing activities			(221,078)			414,330			(87,199)
Net increase (decrease) in cash and cash equivalents			126,628			(3,814)			3,827
Cash and cash equivalents at beginning of year			207			4,021			194
Cash and cash equivalents at end of year		$	126,835		$	207		$	4,021