TCF Bank 2001 Annual Report Download - page 50

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48
Consolidated Statements of Cash Flows
Year Ended December 31,
(In thousands) 2001 2000 1999
Cash flows from operating activities:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 207,322 $ 186,245 $ 166,039
Adjustments to reconcile net income to net cash provided
(used) by operating activities:
Depreciation and amortization . . . . . . . . . . . . . . . . . 42,412 30,369 29,031
Amortization of goodwill and other intangibles . . . . . 9,716 10,001 10,689
Provision for credit losses . . . . . . . . . . . . . . . . . . . . . 20,878 14,772 16,923
Proceeds from sales of loans held for sale . . . . . . . . . . 2,135,218 611,123 586,859
Principal collected on loans held for sale . . . . . . . . . . 12,469 9,885 10,144
Originations and purchases of loans held for sale . . . . (2,375,396) (649,750) (457,515)
Net (increase) decrease in other assets and
accrued expenses and other liabilities . . . . . . . . . . 91,612 (1,854) 47,088
Gains on sales of assets . . . . . . . . . . . . . . . . . . . . . . . (4,393) (12,813) (23,952)
Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,550 4,125 14,988
Total adjustments . . . . . . . . . . . . . . . . . . . . . . . . (61,934) 15,858 234,255
Net cash provided by operating activities . . . . . 145,388 202,103 400,294
Cash flows from investing activities:
Principal collected on loans and leases . . . . . . . . . . . . . . . . . 3,352,341 2,162,839 2,315,173
Originations and purchases of loans . . . . . . . . . . . . . . . . . . (2,719,682) (2,320,239) (3,069,408)
Purchases of equipment for lease financing . . . . . . . . . . . . . (449,231) (579,595) (289,156)
Net (increase) decrease in interest-bearing deposits with banks . . (559) 19,987 95,575
Proceeds from sales of securities available for sale . . . . . . . . . 33,645 – 288,718
Proceeds from maturities of and principal collected on
securities available for sale . . . . . . . . . . . . . . . . . . . . . . . 398,316 176,905 577,844
Purchases of securities available for sale . . . . . . . . . . . . . . . . (587,324) (314) (791,995)
Net decrease in federal funds sold . . . . . . . . . . . . . . . . . . . . – 41,000
Net increase in Federal Home Loan Bank stock . . . . . . . . . . (18,927) (4,671) (11,129)
Sales of deposits, net of cash paid . . . . . . . . . . . . . . . . . . . . (26,958) (82,097) (104,404)
Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (64,313) (48,329) 18,852
Net cash used by investing activities . . . . . . . . . . . . . . . . . (82,692) (675,514) (928,930)
Cash flows from financing activities:
Net increase (decrease) in deposits . . . . . . . . . . . . . . . . . . . 237,180 402,731 (13,649)
Net increase (decrease) in short-term borrowings . . . . . . . . . (178,836) (168,287) 674,431
Proceeds from long-term borrowings . . . . . . . . . . . . . . . . . 677,334 954,252 1,566,253
Payments on long-term borrowings . . . . . . . . . . . . . . . . . . . (579,529) (619,250) (1,529,301)
Purchases of common stock . . . . . . . . . . . . . . . . . . . . . . . . (148,043) (73,824) (106,106)
Payments of dividends on common stock . . . . . . . . . . . . . . . (77,473) (66,101) (60,755)
Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,364 6,635 6,548
Net cash provided (used) by financing activities . . . . . . . . (68,003) 436,156 537,421
Net increase (decrease) in cash and due from banks . . . . . . . . . . (5,307) (37,255) 8,785
Cash and due from banks at beginning of year . . . . . . . . . . . . . . 392,007 429,262 420,477
Cash and due from banks at end of year . . . . . . . . . . . . . . . . . . $ 386,700 $ 392,007 $ 429,262
Supplemental disclosures of
cash flow information:
Cash paid for:
Interest on deposits and borrowings . . . . . . . . . . . . . . . . $ 352,903 $ 377,430 $ 302,268
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 24,128 $ 89,852 $ 78,125
Transfer of loans and leases to other real estate owned and
other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 33,447 $ 16,580 $ 32,074
See accompanying notes to consolidated financial statements.