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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 7,430 $ 10,027 $ 9,433
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of intangible assets 860 986 1,136
Deferred income tax (benefit) expense 4,251 (2,564) 774
Provision for loan losses 9,022 2,437 1,571
(Gain) loss on disposal of fixed assets 29 0 (18)
Depreciation and amortization of fixed assets 3,703 4,205 4,044
Amortization of premiums on securities, net 1,450 1,771 1,903
Gains on sales of loans held for sale, net (260) (326) (294)
Proceeds from sales of loans held for sale 9,722 15,498 13,669
Loans originated and held for sale (9,592) (14,508) (13,786)
Net (gains) losses on sale of other real estate owned (38) (21) (84)
Writedowns on OREO 43 7 390
Net (gains) losses on trading assets (137) (76) 2
Net gains on securities transactions (109) (987) (372)
Proceeds from sales of trading assets 20 99 16
Purchase of trading assets (97) (96) (170)
(Increase) decrease in other assets 636 (165) 4,931
Increase (decrease) in accrued interest payable (62) 1 (28)
Expense related to restricted stock units for directors' deferred compensation plan 98 97 95
Expense related to employee stock compensation 200 210 93
Expense related to employee restricted stock awards 210 192 314
Increase (decrease) in other liabilities (3,664) 5,427 (9,421)
Income from bank owned life insurance (70) (73) (75)
Net cash provided by operating activities 23,645 22,141 14,123
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from sales and calls of securities available for sale 6,656 51,128 73,823
Proceeds from maturities and principal collected on securities available for sale 45,498 78,160 48,601
Proceeds from maturities and principal collected on securities held to maturity 2,891 2,868 3,290
Purchases of securities available for sale (41,306) (95,993) (191,112)
Purchases of securities held to maturity (1,967) (3,007) (2,025)
Purchase of FHLBNY and FRBNY stock (7,208) (5,458) (8,552)
Redemption of FHLBNY and FRBNY stock 5,465 6,214 9,290
Proceeds from sales of fixed assets 16 0 18
Purchases of premises and equipment (1,482) (1,696) (1,154)
Proceeds from sale of other real estate owned 383 1,568 1,329
Net increase in loans (115,588) (34,513) (48,156)
Net cash used by investing activities (106,642) (729) (114,648)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in demand deposits, interest-bearing demand accounts, savings accounts, and insured money market accounts 36,847 78,021 166,045
Net decrease in time deposits (25,744) (21,973) (45,764)
Net decrease in securities sold under agreements to repurchase (17,606) (847) (1,199)
Net change in FHLBNY overnight advances 57,700 (13,900) (16,930)
Repayments of FHLBNY long term advances (7,093) (10,110) (107)
Payments made on capital lease (205) (186) (103)
Sale of treasury stock 582 438 438
Cash dividends paid (4,917) (4,878) (4,833)
Net cash provided by financing activities 39,564 26,565 97,547
Net increase (decrease) in cash and cash equivalents (43,433) 47,977 (2,978)
Cash and cash equivalents, beginning of period 74,162 26,185 29,163
Cash and cash equivalents, end of period 30,729 74,162 26,185
Cash paid during the year for:      
Interest 3,130 3,838 3,630
Income Taxes 4,050 4,360 7,047
Supplemental disclosure of non-cash activity:      
Transfer of loans to other real estate owned 1,940 412 100
Dividends declared, not yet paid 1,233 1,225 1,214
Assets acquired through long term capital lease obligation 0 2,035 0
Repurchase of common stock in lieu of employee payroll taxes (61) (22) (33)
Distribution of treasury stock for directors' deferred compensation plan 11 3 3
Distribution of treasury stock for directors' compensation $ 269 $ 262 $ 271