Huntington National Bank 2012 Annual Report Download - page 116

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Huntington Bancshares Incorporated
Consolidated Statements of Cash Flows
Year Ended December 31,
(dollar amounts in thousands) 2012 2011 2010
Operating activities
N
et income $ 641,022 $ 542,613 $ 312,347
Adjustments to reconcile net income (loss) to net cash provided by operating
activities:
Provision for credit losses 147,388 174,059 634,547
Depreciation and amortization 274,572 282,105 286,186
Change in current and deferred income taxes 177,706 84,555 161,367
N
et sales (purchases) of trading account securities (45,306) 139,505 (101,747)
Originations of loans held for sale (3,814,572) (2,414,172) (3,864,273)
Principal payments on and proceeds from loans held for sale 3,731,465 2,820,797 3,535,550
Gain on early extinguishment of debt (798) (9,697) ---
Bargain purchase gain (11,217) --- ---
N
et gain on sales of securities (6,388) (3,682) (13,448)
Impairment losses recognized in earnings on available-for-sale securities 1,619 7,363 13,722
Other, net (93,361) (28,659) (123,428)
Net cash provided by (used for) operating activities 1,002,130 1,594,787 840,823
Investing activities
Decrease (increase) in interest-bearing deposits in banks 70,980 50,093 162,913
N
et cash received in acquisitions 40,258 --- ---
Proceeds from:
Maturities and calls of available-for-sale and other securities 1,776,594 2,489,049 3,288,714
Maturities of held-to-maturity securities 113,576 31,163 ---
Sales of available-for-sale and other securities 957,930 3,205,884 4,280,518
Purchases of available-for-sale and other securities (2,384,824) (4,283,866) (8,769,767)
Purchases of held-to-maturity securities (941,119) (204,082) ---
N
et proceeds from sales of loans 3,092,643 1,640,237 941,615
N
et loan and lease activity, excluding sales (3,287,000) (4,148,424) (2,764,575)
Proceeds from sale of operating lease assets 30,322 62,744 34,930
Purchases of premises and equipment (129,641) (143,763) (68,200)
Proceeds from sales of other real estate 56,762 55,817 113,298
Purchases of loans and leases (484,157) (59,885) ---
Other, net 4,698 327 3,770
Net cash provided by (used for) investing activities (1,082,978) (1,304,706) (2,776,784)
Financing activities
Increase (decrease) in deposits 2,262,213 1,420,944 1,353,227
Increase (decrease) in short-term borrowings (939,979) (580,335) 1,128,887
N
et proceeds from issuance of subordinated notes --- --- 297,375
Maturity/redemption of subordinated notes (305,010) (5,000) (83,870)
Proceeds from Federal Home Loan Bank advances 2,515,000 550,000 450,000
Maturity/redemption of Federal Home Loan Bank advances (1,914,281) (359,732) (446,718)
Proceeds from issuance of long-term debt --- --- 60,805
Maturity/redemption of long-term debt (1,070,804) (902,652) (848,756)
Repurchase of Warrant to the Treasury --- (49,100) ---
Dividends paid on preferred stock (31,719) (30,813) (107,901)
Dividends paid on common stock (137,616) (61,591) (28,598)
Costs to issue preferred stock --- (1,759) ---
Payment to repurchase preferred stock --- --- (1,398,071)
Repurchase of common stock (148,881) --- ---
N
et proceeds from issuance of common stoc
k
--- --- 886,172
Other, net (1,237) (1,963) (47)
Net cash provided by (used for) financing activities 227,686 (22,001) 1,262,505
Increase (decrease) in cash and cash equivalents 146,838 268,080 (673,456)
Cash and cash equivalents at beginning of period 1,115,968 847,888 1,521,344
Cash and cash equivalents at end of period $ 1,262,806 $ 1,115,968 $ 847,888