Condensed Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2011

Condensed Parent Company Only Financial Statements [Abstract]


(dollars in thousands)	2011		2010
Assets
Cash in bank	$	98,390	$	234,006
Investment in subsidiaries		1,434,101		1,123,168
Other assets		75,061		49,980

Total assets	$	1,607,552	$	1,407,154

Liabilities and Shareholders' Equity
Liabilities	$	124,891	$	103,697
Shareholders' equity		1,482,661		1,303,457

Total liabilities and shareholders' equity	$	1,607,552	$	1,407,154

Condensed Statements Of Income


(dollars in thousands)	2011			2010			2009
Operating income
Dividends from subsidiaries	$	—		$	—		$	—
Reimbursement of management expenses		74,664			41,313			34,280
Other income		(1,176	)		1,209			1,544
Total operating income		73,488			42,522			35,824
Operating expenses
Interest expense		2,101			3,865			4,464
Salaries and employee benefits expense		63,505			49,816			35,719
Other expenses		33,546			24,744			16,241

Total operating expenses		99,152			78,425			56,424

Income (loss) before income tax (expense) benefit and increase in equity in undistributed earnings of subsidiaries		(25,664	)		(35,903	)		(20,600	)

Income tax benefit		8,219			12,113			7,108


Income (loss) before equity in undistributed earnings of subsidiaries		(17,445	)		(23,790	)		(13,492	)

Equity in undistributed earnings of subsidiaries		70,983			72,616			171,845

Net income		53,538			48,826			158,354
Preferred Stock Dividends		—			—			(3,350	)

Income available to common shareholders	$	53,538		$	48,826		$	155,004

Condensed Statements Of Cash Flows


(dollars in thousands)	2011			2010			2009

Cash flows from operating activities

Net income	$	53,538		$	48,826		$	158,354

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		1,071			(892	)		(937	)
Net income of subsidiaries		(70,983	)		(72,616	)		(171,845	)
Noncash compensation expense		9,114			7,797			6,586
Gain on sale of assets		—			(3	)		—
Derivative (gains) losses on swaps		—			—			(198	)
Increase in dividend receivable from subsidiaries		—			—			—
Cash retained from tax benefit associated with share-based payment arrangements		(1,454	)		(637	)		(1,346	)
Other, net		(23,278	)		(5,953	)		(13,649	)


Net cash (used in) provided by operating activities		(31,992	)		(23,478	)		(23,035	)

Cash flows from investing activities
Cash received in excess of cash paid in acquisition		—			—			—
Proceeds from sale of premises and equipment		10			3			—
Purchases of premises and equipment		(3,655	)		(4,586	)		(1,217	)
Capital contributed to subsidiary		(12,963	)		(94,561	)		(130,730	)
Acquisition		—			(733	)		—


Net cash used in investing activities		(16,608	)		(99,877	)		(131,947	)

Cash flows from financing activities
Dividends paid to shareholders		(38,558	)		(34,412	)		(23,355	)
Proceeds from long-term debt		—			—			—
Common stock issued		—			328,980			164,644
Preferred stock and common stock warrants (repaid) issued		—			—			(89,078	)
Repayments of long-term debt		(13,500	)		—			(8,333	)
Costs of issuance of common stock		—			—			—
Payments to repurchase common stock		(43,219	)		(1,500	)		(979	)
Proceeds from sale of treasury stock for stock options exercised		6,807			1,631			4,449
Cash retained from tax benefit associated with share-based payment arrangements		1,454			637			1,346


Net cash provided by financing activities		(87,016	)		295,336			48,694


Net (decrease) increase in cash and cash equivalents		(135,616	)		171,981			(106,288	)

Cash and cash equivalents at beginning of period		234,006			62,025			168,313


Cash and cash equivalents at end of period	$	98,390		$	234,006		$	62,025