82 First BanCorp.> 2001 Year ended December 31, 2001 2000 1999 (In thousands) Cash flows from operating activities: Net income $86,001 $67,276 $62,075 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiaries (59,755 (34,681 (49,953 Net gain on sale of investments securities (1,093 (7,134 Net (increase) decrease in other assets  (75 120 (130 Net (decrease) increase in other liabilities (186 (527 883 Total adjustments (61,109 (42,222 (49,200 Net cash provided by operating activities 24,892 25,054 12,875 Cash flows from investing activities: Capital contribution to subsidiaries (80,305 (40,000 Loans originated (5,682 Purchases of securities available for sale (24,203 (50,119 (44,361 Sales of securities available for sale 10,227 44,807 Other investing activities 6,316 278 Net cash used in investing activities (93,647 (45,034 (44,361 Cash flows from financing activities: Net (decrease) increase in other borrowings (865 865 Proceeds from issuance on preferred stock 100,069 72,438 86,850 Exercise of stock options 1,355 94 176 Cash dividends paid (30,343 (19,212 (14,658 Treasury stock acquired (1,930 (30,087 (32,511 Net cash provided by financing activities 69,151 22,368 40,722 Net increase in cash  396 2,388 9,236 Cash and cash equivalents at the beginning of the year 17,326 14,938 5,702 Cash and cash equivalents at the end of the year $17,722 $17,326 $14,938 Cash and cash equivalents include: Cash and due from banks $17,422 $17,026 $13,160 Money market instruments 300 300 1,778 $17,722 $17,326 $14,938 Statements of Cash Flows ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )