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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 40,079 $ 24,768 $ 26,130
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 2,615 1,411 635
ESOP and stock compensation expense 7,769 8,686 9,555
Depreciation expense 3,020 3,229 3,591
Amortization of premiums, and deferred loan costs, net of (accretion) of discounts, and deferred loan fees 2,441 2,000 2,226
Amortization of intangible assets 326 386 447
Income on bank owned life insurance (3,705) (5,386) (3,998)
Proceeds from sale of loans held-for-sale 0 494 0
Losses (gains) on securities, net 701 (1,283) (813)
Net purchases of trading securities (250) (626) (637)
(Increase) decrease in accrued interest receivable (2,246) (999) 1
Decrease (increase) in other assets 3,563 (3,689) 3,052
Deferred taxes (893) 15,193 (3,059)
(Decrease) increase in accrued expenses and other liabilities (631) (560) 571
Net cash provided by (used in) operating activities 52,789 43,624 37,701
Cash flows from investing activities:      
Net increase in loans receivable (69,270) (110,177) (87,514)
Purchase of loans (37,593) (64,116) (167,345)
Purchase of FHLB of New York stock (21,557) (18,890) (9,497)
Redemption of FHLB of New York stock 24,086 18,967 10,653
Purchases of debt securities available-for-sale (451,174) (137,631) (105,860)
Principal payments and maturities on debt securities available-for-sale 118,485 114,416 162,594
Principal payments and maturities on debt securities held-to-maturity 403 200 181
Proceeds from sale of debt securities available-for-sale 32,115 4,975 44,582
Proceeds from sale of equity securities 0 966 0
Proceeds from bank owned life insurance 174 2,829 0
Proceeds from sale of other real estate owned 850 0 45
Purchases and improvements of premises and equipment (2,879) (2,065) (932)
Net cash acquired in business combinations 0 0 55,479
Net cash provided by investing activities (406,360) (190,526) (97,614)
Cash flows from financing activities:      
Net increase in deposits 449,533 123,392 204,455
Dividends paid (18,673) (15,646) (14,074)
Exercise of stock options 2,088 100 120
Purchase of treasury stock (5) 0 (2,201)
Additional tax benefit on equity awards 0 0 1,512
Increase in advance payments by borrowers for taxes and insurance 3,209 2,467 1,469
Repayments under capital lease obligations (255) (224) (204)
Proceeds from securities sold under agreements to repurchase and other borrowings 397,312 441,570 228,978
Repayments related to securities sold under agreements to repurchase and other borrowings (459,715) (443,003) (315,910)
Net cash used in financing activities 373,494 108,656 104,145
Net (decrease) increase in cash and cash equivalents 19,923 (38,246) 44,232
Cash and cash equivalents at beginning of period 57,839 96,085 51,853
Cash and cash equivalents at end of period 77,762 57,839 96,085
Supplemental cash flow information:      
Interest 35,822 23,765 22,037
Income taxes 10,368 12,875 14,415
Non-cash transactions:      
Loans charged-off / (recoveries), net 1,278 (154) 810
Transfers of loans to other real estate owned 0 0 850
Transfers of originated loans held-for-investment to held-for-sale, at fair value 0 494 0
Securities available-for-sale 0 0 61,633
Loans 0 0 342,566
Accrued interest receivable 0 0 1,452
Bank owned life insurance 0 0 11,269
Premises and equipment 0 0 5,926
Federal Home Loan Bank of New York stock 0 0 476
Goodwill and other intangible assets 0 0 24,265
Other assets 0 0 5,389
Total non-cash assets acquired 0 0 452,976
Deposits 0 0 456,203
Borrowings 0 0 2,213
Other liabilities 0 0 8,318
Total non-cash liabilities assumed 0 0 466,734
Net non-cash assets acquired 0 0 (13,758)
Net cash and cash equivalents acquired 0 0 55,479
Common stock issued in acquisition $ 0 $ 0 $ 41,721