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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 9,433 $ 8,157 $ 8,731
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of intangible assets 1,136 1,310 921
Deferred income tax (benefit) expense 774 (2,263) (121)
Provision for loan losses 1,571 3,981 2,755
(Gain) loss on disposal of fixed assets (18) 14 0
Depreciation and amortization of fixed assets 4,044 3,861 3,236
Amortization of premiums on securities, net 1,903 2,398 2,280
Gains on sales of loans held for sale, net (294) (301) (503)
Proceeds from sales of loans held for sale 13,669 14,062 20,076
Loans originated and held for sale (13,786) (13,731) (19,210)
Gain on bargain purchase 0 0 (470)
Net (gains) losses on sale of other real estate owned (84) 64 (28)
Writedowns on OREO 390 141 3
Net (gains) losses on trading assets 2 (50) (43)
Net gains on securities transactions (372) (6,869) (16)
Net impairment loss recognized on investment securities 0 0 29
Proceeds from sales of trading assets 16 7 112
Purchase of trading assets (170) (140) (87)
(Increase) decrease in other assets 4,931 (7,579) (4,246)
Decrease in accrued interest payable (28) (99) (108)
Expense related to restricted stock units for directors' deferred compensation plan 95 94 99
Expense related to employee stock compensation 93 117 112
Expense related to employee restricted stock awards 314 151 131
Increase (decrease) in other liabilities (9,421) 15,086 9,403
Proceeds from bank owned life insurance 0 110 0
Income from bank owned life insurance (75) (78) (84)
Net cash provided by operating activities 14,123 18,443 22,972
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from sales and calls of securities available for sale 73,823 62,738 18,150
Proceeds from maturities and principal collected on securities available for sale 48,601 24,222 44,046
Proceeds from maturities and principal collected on securities held to maturity 3,290 3,201 5,703
Purchases of securities available for sale (191,112) (23,613) (174,034)
Purchases of securities held to maturity (2,025) (2,537) (6,449)
Purchase of FHLBNY and FRBNY stock (8,552) (3,907) (16,124)
Redemption of FHLBNY and FRBNY stock 9,290 2,854 16,353
Proceeds from sales of fixed assets 18 0 0
Purchases of premises and equipment (1,154) (2,586) (3,711)
Cash received acquisition of Bank of America branches 0 0 173,673
Cash paid Bank of America branches 0 0 (2,768)
Proceeds from sale of other real estate owned 1,329 342 155
Net increase in loans (48,156) (131,852) (101,481)
Net cash used by investing activities (114,648) (71,138) (46,487)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in demand deposits, interest-bearing demand accounts, savings accounts, and insured money market accounts 166,045 46,407 67,566
Net decrease in time deposits (45,764) (32,649) (27,085)
Net decrease in securities sold under agreements to repurchase (1,199) (3,049) (9)
Net change in FHLBNY overnight advances (16,930) 30,830 0
Repayments of FHLBNY long term advances (107) (5,933) (1,983)
Payments made on capital lease (103) (561) 0
Purchase of treasury stock 0 0 (93)
Sale of treasury stock 438 0 71
Cash dividends paid (4,833) (4,796) (3,584)
Net cash provided by financing activities 97,547 30,249 34,883
Net (decrease) increase in cash and cash equivalents (2,978) (22,446) 11,368
Cash and cash equivalents, beginning of period 29,163 51,609 40,241
Cash and cash equivalents, end of period 26,185 29,163 51,609
Cash paid during the year for:      
Interest 3,630 3,744 4,163
Income Taxes 7,047 3,346 5,304
Supplemental disclosure of non-cash activity:      
Transfer of loans to other real estate owned 100 3,074 103
Dividends declared, not yet paid 1,214 1,204 1,195
Assets acquired through long term capital lease obligation 0 3,537 0
Repurchase of common stock in lieu of employee payroll taxes (33) 0 0
Distribution of treasury stock for directors' deferred compensation plan 3 3 11
Distribution of treasury stock for directors' compensation $ 271 $ 273 $ 217