Note 18. Parent Holding Company Information (Condensed)

The following condensed financial information was the unconsolidated information for the parent holding company:

Statements of Financial Condition



(Dollars in thousands)	December 31, 2013		December 31, 2012
Assets
Cash on hand and in banks	$	1,582	2,540
Interest bearing cash deposits	49,097		9,887
Cash and cash equivalents	50,679		12,427
Investment securities, available-for-sale	87		29,457
Other assets	9,050		23,221
Investment in subsidiaries	1,040,104		972,218
Total assets	$	1,099,920	1,037,323
Liabilities and Stockholders’ Equity
Subordinated debentures	$	125,562	125,418
Other liabilities	11,108		10,956
Total liabilities	136,670		136,374
Common stock	744		719
Paid-in capital	690,918		641,737
Retained earnings	261,943		210,531
Accumulated other comprehensive income	9,645		47,962
Total stockholders’ equity	963,250		900,949
Total liabilities and stockholders’ equity	$	1,099,920	1,037,323

Statements of Operations



	Years ended
(Dollars in thousands)	December 31, 2013			December 31, 2012	December 31, 2011
Income
Dividends from subsidiaries	$	65,445		78,209	43,450
Loss on sale of investments	(3,248		)	—	—
Other income	966			566	864
Intercompany charges for services	7,387			16,041	14,438
Total income	70,550			94,816	58,752
Expenses
Compensation and employee benefits	9,175			12,392	9,185
Other operating expenses	6,536			10,267	11,827
Total expenses	15,711			22,659	21,012
Income before income tax benefit and equity in undistributed net income (loss) of subsidiaries	54,839			72,157	37,740
Income tax benefit	3,676			2,319	2,176
Income before equity in undistributed net income (loss) of subsidiaries	58,515			74,476	39,916
Equity in undistributed net income (loss) of subsidiaries	37,129			1,040	(22,825	)
Net Income	$	95,644		75,516	17,091

Note 18. Parent Holding Company Information (Condensed) (continued)

Statements of Comprehensive Income



	Years ended
(Dollars in thousands)	December 31, 2013			December 31, 2012		December 31, 2011
Net Income	$	95,644		75,516		17,091
Other Comprehensive (Loss) Income, Net of Tax
Unrealized (losses) gains on available-for-sale securities	(81,739		)	31,617		63,190
Reclassification adjustment for losses (gains) included in net income	299			—		(346	)
Net unrealized (losses) gains on securities	(81,440		)	31,617		62,844
Tax effect	31,680			(12,300	)	(24,444	)
Net of tax amount	(49,760		)	19,317		38,400
Unrealized gains (losses) on derivatives used for cash flow hedges	18,728			(7,926	)	(8,906	)
Tax effect	(7,285		)	3,084		3,465
Net of tax amount	11,443			(4,842	)	(5,441	)
Total other comprehensive (loss) income, net of tax	(38,317		)	14,475		32,959
Total Comprehensive Income	$	57,327		89,991		50,050

Statements of Cash Flows



	Years ended
(Dollars in thousands)	December 31, 2013			December 31, 2012		December 31, 2011
Operating Activities
Net income	$	95,644		75,516		17,091
Adjustments to reconcile net income to net cash provided by operating activities:
Subsidiary income (in excess of) less than dividends distributed	(37,129		)	(1,040	)	22,825
Loss on sale of investments	3,248			—		—
Excess tax deficiencies from stock-based compensation	223			8		—
Net change in other assets and other liabilities	2,575			3,684		1,215
Net cash provided by operating activities	64,561			78,168		41,131
Investing Activities
Proceeds from sales, maturities and prepayments of securities available-for-sale	26,561			787		1,376
Changes in investment securities and other stock - intercompany	(946		)	(19,183	)	—
Equity contribution to subsidiaries	(11,336		)	(28,500	)	(1,110	)
Net addition of premises and equipment	(603		)	(2,927	)	(1,920	)
Net cash provided by (used in) investing activities	13,676			(49,823	)	(1,654	)
Financing Activities
Net increase in other borrowed funds	144			143		143
Cash dividends paid	(44,232		)	(47,472	)	(37,395	)
Excess tax deficiencies from stock-based compensation	(223		)	(8	)	—
Proceeds from stock options exercised	4,326			81		—
Net cash used in financing activities	(39,985		)	(47,256	)	(37,252	)
Net increase (decrease) in cash and cash equivalents	38,252			(18,911	)	2,225
Cash and cash equivalents at beginning of year	12,427			31,338		29,113
Cash and cash equivalents at end of year	$	50,679		12,427		31,338