 |
| (In thousands) |
Years Ended December 31
|
|
 |
|
|
2000
|
1999
|
1998
|
|
|
|
|
| OPERATING
ACTIVITIES |
|
|
|
| Net income
|
$ 329,127 |
$ 340,468 |
$ 474,074 |
| Adjustments
to reconcile net income to net cash provided by operating activities: |
|
|
|
|
Provision
for loan losses |
227,600 |
165,626 |
99,067 |
|
Depreciation
and amortization of premises and equipment |
84,292 |
97,731 |
82,622 |
|
Amortization
of premiums and discounts on held-to-maturity securities |
|
|
|
|
|
and available-for-sale
securities |
8,213 |
(3,004) |
(9,445) |
|
Noncash
portion of merger-related costs |
43,389 |
98,595 |
5,900 |
|
Net decrease
(increase) in loans held for sale |
29,907 |
106,372 |
(162,028) |
|
Net decrease
(increase) in trading securities |
16,200 |
(4,154) |
7,781 |
|
Net losses
(gains) on sales of available-for-sale securities |
95,301 |
(11,392) |
(16,099) |
|
Net gains
on sales of loans to dealer conduits |
(9,323) |
-0- |
-0- |
|
Net gains
on sales of loans to mortgage conduits |
(16,881) |
(19,928) |
-0- |
|
Net loss
on dealer securitization |
18,531 |
-0- |
-0- |
|
Net loss
on loans held for accelerated disposition |
23,414 |
-0- |
-0- |
|
Writedown
of mortgage conduit assets |
24,751 |
-0- |
-0- |
|
Net gains
on sales of businesses |
(19,959) |
-0- |
-0- |
|
Net increase
in accrued interest receivable and other assets |
(58,989) |
(531,927) |
(211,009) |
|
Net (decrease)
increase in accrued expenses and other liabilities |
(176,666) |
(32,371) |
11,275 |
|
Provision
for deferred income taxes |
138,154 |
56,834 |
65,807 |
|
Amortization
of intangible assets |
37,589 |
40,306 |
40,211 |
|
Other
operating activities, net |
60,890 |
42,054 |
28,924 |
|
|
|
|
|
|
Net cash provided
by operating activities |
855,540 |
345,210 |
417,080 |
|
|
|
|
| INVESTING
ACTIVITIES |
|
|
|
| Proceeds
from maturities and prepayments of available-for-sale securities
|
535,098 |
1,904,594 |
2,771,295 |
| Proceeds
from sales of available-for-sale securities |
4,523,131 |
2,292,108 |
2,837,590 |
| Purchases
of available-for-sale securities |
(878,539) |
(5,319,935) |
(6,764,648) |
| Proceeds
from maturities, prepayments and calls of held-to-maturity securities
|
979,239 |
1,430,693 |
1,808,077 |
| Purchases
of held-to-maturity securities |
(559,395) |
(2,275,882) |
(1,451,233) |
| Net (increase)
decrease in federal funds sold and securities purchased under |
|
|
|
|
agreements
to resell |
(2,023,473) |
225,227 |
(93,256) |
| Net (increase)
decrease in other interest-earning assets |
(40,936) |
11,412 |
(29,276) |
| Net increase
in loans, excluding dealer securitization and |
|
|
|
|
mortgage
and dealer conduits sales |
(3,125,344) |
(3,382,611) |
(1,101,824) |
| Proceeds
from sales of loans to dealer conduits |
1,001,106 |
-0- |
-0- |
| Proceeds
from sales of loans to mortgage conduits |
1,301,968 |
1,434,347 |
-0- |
| Proceeds
from securitization of dealer loans |
917,080 |
-0- |
-0- |
| Net purchases
of premises and equipment |
(51,300) |
(2,415) |
(133,432) |
| Net cash
provided by acquisitions |
-0- |
-0- |
63,855 |
| Net cash
from sales of branches, business operations, |
|
|
|
|
subsidiaries
and other assets |
796,860 |
98,102 |
8,204 |
|
|
|
|
|
|
Net cash provided
(used) by investing activities |
3,375,495 |
(3,584,360) |
(2,084,648) |
|
|
|
|
| FINANCING
ACTIVITIES |
|
|
|
| Net (decrease)
increase in deposits |
(806,172) |
(615,042) |
961,708 |
| Net (decrease)
increase in federal funds purchased and securities sold under |
|
|
|
|
agreements
to repurchase |
(1,775,483) |
625,485 |
488,967 |
| Net (decrease)
increase in other borrowed funds |
(1,598,872) |
1,787,483 |
(1,177,511) |
| Issuance
of long-term Federal Home Loan Bank advances and |
|
|
|
|
other
long-term debt |
5,379,388 |
2,735,384 |
2,528,473 |
| Payments
for maturing long-term debt |
(5,097,875) |
(1,527,169) |
(391,487) |
| Cash
dividends paid |
(305,383) |
(183,848) |
(195,560) |
| Proceeds
from employee stock plans and dividend reinvestment plan |
62,066 |
53,564 |
45,943 |
| Purchases
of common stock |
(375,822) |
(166,475) |
(201,898) |
|
|
|
|
|
|
Net cash (used)
provided by financing activities |
(4,518,153) |
2,709,382 |
2,058,635 |
|
|
|
|
| (Decrease)
increase in cash and cash equivalents |
(287,118) |
(529,768) |
391,067 |
| Cash
and cash equivalents at beginning of period |
1,565,809 |
2,095,577 |
1,704,510 |
|
|
|
|
| Cash
and cash equivalents at end of period |
$ 1,278,691 |
$ 1,565,809 |
$ 2,095,577 |
|
|
|
|
|
|
|
|
|
|
|
|
| See Notes
to Consolidated Financial Statements. |
|
|
|
|
