TCF Bank 2000 Annual Report Download - page 44

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CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended December 31,
(In thousands) 2000 1999 1998
Cash flows from operating activities:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 186,245 $ 166,039 $ 156,179
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization . . . . . . . . . . . . . . . . 30,369 29,031 27,914
Amortization of goodwill and other intangibles . . . . 10,001 10,689 11,399
Provision for credit losses . . . . . . . . . . . . . . . . . . . . 14,772 16,923 23,280
Proceeds from sales of loans held for sale . . . . . . . . . 611,123 586,859 577,808
Principal collected on loans held for sale . . . . . . . . . 9,885 10,144 9,083
Originations and purchases of loans held for sale . . . (649,750) (457,515) (603,567)
Net (increase) decrease in other assets and
liabilities, and accrued interest . . . . . . . . . . . . . (1,854) 47,088 14,339
Gains on sales of assets . . . . . . . . . . . . . . . . . . . . . . (12,813) (23,952) (28,825)
Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,125 14,988 8,395
Total adjustments . . . . . . . . . . . . . . . . . . . . . . . 15,858 234,255 39,826
Net cash provided by operating activities . . . . . . 202,103 400,294 196,005
Cash flows from investing activities:
Principal collected on loans and leases . . . . . . . . . . . . . . . 2,162,839 2,315,173 3,111,218
Originations and purchases of loans . . . . . . . . . . . . . . . . . (2,320,239) (3,069,408) (3,119,924)
Purchases of equipment for lease financing . . . . . . . . . . . . (579,595) (289,156) (186,009)
Proceeds from sales of loans . . . . . . . . . . . . . . . . . . . . . . . –– 20,330
Net (increase) decrease in interest-bearing deposits
with banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,987 95,575 (95,322)
Proceeds from sales of securities available for sale . . . . . . . . –288,718 231,438
Proceeds from maturities of and principal collected on
securities available for sale . . . . . . . . . . . . . . . . . . . . . . 176,905 577,844 606,603
Purchases of securities available for sale . . . . . . . . . . . . . . . (314) (791,995) (967,585)
Net (increase) decrease in federal funds sold . . . . . . . . . . . –41,000 (41,000)
Sales of deposits, net of cash paid . . . . . . . . . . . . . . . . . . . (82,097) (104,404) (213,159)
Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (53,000) 7,723 (19,956)
Net cash used by investing activities . . . . . . . . . . . . . . . (675,514) (928,930) (673,366)
Cash flows from financing activities:
Net increase (decrease) in deposits . . . . . . . . . . . . . . . . . . 402,731 (13,649) 41,816
Net increase in securities sold under repurchase
agreements and federal funds purchased . . . . . . . . . . . . 75,320 642,720 254,836
Proceeds from borrowings . . . . . . . . . . . . . . . . . . . . . . . . 5,443,008 4,679,462 3,502,311
Payments on borrowings . . . . . . . . . . . . . . . . . . . . . . . . . (5,331,961) (4,598,365) (2,911,853)
Purchases of common stock to be held in treasury . . . . . . . (73,824) (106,106) (210,939)
Payments of dividends on common stock . . . . . . . . . . . . . . (66,101) (60,755) (54,971)
Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (13,017) (5,886) (20,372)
Net cash provided by financing activities . . . . . . . . . . . . 436,156 537,421 600,828
Net increase (decrease) in cash and due from banks . . . . . . (37,255) 8,785 123,467
Cash and due from banks at beginning of year . . . . . . . . . . 429,262 420,477 297,010
Cash and due from banks at end of year . . . . . . . . . . . . . . . $ 392,007 $ 429,262 $ 420,477
Supplemental disclosures of
cash flow information:
Cash paid for:
Interest on deposits and borrowings . . . . . . . . . . . . . . . $ 377,430 $ 302,268 $ 306,299
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 89,852 $ 78,125 $ 105,207
Transfer of loans to other real estate owned
and other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 16,580 $ 32,074 $ 36,750
See accompanying notes to consolidated financial statements.
42
TCF