|
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2014
|
Mar. 31, 2013
|
| Operating Activities |
|
|
| Net Income |
$ 38,592 |
$ 35,980 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: |
|
|
| Depreciation and Amortization |
3,085 |
3,107 |
| Amortization of Deferred Loan and Lease Fees |
(482) |
(753) |
| Amortization and Accretion of Premiums/Discounts on Investment Securities, Net |
12,157 |
15,848 |
| Share-Based Compensation |
1,808 |
1,280 |
| Benefit Plan Contributions |
(326) |
(345) |
| Deferred Income Taxes |
4,482 |
134 |
| Net Gains on Sales of Loans and Leases |
(821) |
(8,586) |
| Net Gains on Investment Securities |
(2,160) |
0 |
| Proceeds from Sales of Loans Held for Sale |
39,206 |
231,026 |
| Originations of Loans Held for Sale |
(34,390) |
(226,325) |
| Tax Benefits from Share-Based Compensation |
(353) |
(451) |
| Net Change in Other Assets and Other Liabilities |
(11,557) |
(23,036) |
| Net Cash Provided by Operating Activities |
49,241 |
27,879 |
| Investment Securities Available-for-Sale: |
|
|
| Proceeds from Prepayments and Maturities |
82,737 |
302,190 |
| Proceeds from Sales |
10,735 |
0 |
| Purchases |
(31,268) |
(246,146) |
| Investment Securities Held-to-Maturity: |
|
|
| Proceeds from Prepayments and Maturities |
177,352 |
283,023 |
| Purchases |
(216,533) |
(296,836) |
| Net Change in Loans and Leases |
(116,377) |
69,411 |
| Premises and Equipment, Net |
(1,772) |
(2,946) |
| Net Cash Provided by (Used in) Investing Activities |
(95,126) |
108,696 |
| Financing Activities |
|
|
| Net Change in Deposits |
129,817 |
(277,622) |
| Net Change in Short-Term Borrowings |
27,539 |
44,771 |
| Proceeds from Long-Term Debt |
0 |
50,000 |
| Tax Benefits from Share-Based Compensation |
353 |
451 |
| Proceeds from Issuance of Common Stock |
4,105 |
4,863 |
| Repurchase of Common Stock |
(14,284) |
(8,299) |
| Cash Dividends Paid |
(20,073) |
(20,230) |
| Net Cash Provided by (Used in) Financing Activities |
127,457 |
(206,066) |
| Net Change in Cash and Cash Equivalents |
81,572 |
(69,491) |
| Cash and Cash Equivalents at Beginning of Period |
463,746 |
352,861 |
| Cash and Cash Equivalents at End of Period |
545,318 |
283,370 |
| Supplemental Information |
|
|
| Cash Paid for Interest |
8,512 |
9,316 |
| Cash Paid for Income Taxes |
1,353 |
6,038 |
| Non-Cash Investing Activities: |
|
|
| Transfer from Loans to Foreclosed Real Estate |
$ 982 |
$ 1,356 |