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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 $ 19,626 $ 7,430 $ 10,027
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of intangible assets 734 860 986
Deferred income tax (benefit) expense 2,153 4,251 (2,564)
Provision for loan losses 3,153 9,022 2,437
(Gain) loss on disposal of fixed assets 10 29 0
Depreciation and amortization of fixed assets 3,437 3,703 4,205
Amortization of premiums on securities, net 1,304 1,450 1,771
Gains on sales of loans held for sale, net (351) (260) (326)
Proceeds from sales of loans held for sale 18,262 9,722 15,498
Loans originated and held for sale (17,871) (9,592) (14,508)
Net (gains) losses on sale of other real estate owned (90) (38) (21)
Write-downs on OREO 14 43 7
Net change in fair value of equity investments (2,004) (80) (43)
Net gains on securities transactions 0 (109) (987)
Proceeds from sales of trading assets 2,288 20 99
Purchase of trading assets (167) (97) (96)
(Increase) decrease in other assets (2,651) 579 (198)
Increase (decrease) in accrued interest payable 84 (62) 1
Expense related to restricted stock units for directors' deferred compensation plan 67 98 97
Expense related to employee stock compensation 89 200 210
Expense related to employee restricted stock awards 405 210 192
Increase (decrease) in other liabilities (654) (3,664) 5,427
Income from bank owned life insurance (66) (70) (73)
Net cash provided by operating activities 27,772 23,645 22,141
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from sales of securities available for sale 0 5,576 40,413
Proceeds from maturities, calls, and principal paydowns on securities available for sale 64,180 46,578 88,875
Proceeds from maturities and principal collected on securities held to maturity 1,316 2,891 2,868
Purchases of securities available for sale (16,033) (41,306) (95,993)
Purchases of securities held to maturity (2,410) (1,967) (3,007)
Purchase of FHLBNY and FRBNY stock (22,003) (7,208) (5,458)
Redemption of FHLBNY and FRBNY stock 24,649 5,465 6,214
Proceeds from sales of fixed assets 0 16 0
Purchases of premises and equipment (1,770) (1,482) (1,696)
Proceeds from sale of other real estate owned 1,709 383 1,568
Net increase in loans (5,719) (115,588) (34,513)
Net cash used by investing activities 43,919 (106,642) (729)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in demand deposits, interest-bearing demand accounts, savings accounts, and insured money market accounts 69,927 36,847 78,021
Increase (decrease) in time deposits 31,864 (25,744) (21,973)
Net decrease in securities sold under agreements to repurchase (10,000) (17,606) (847)
Net change in FHLBNY overnight advances (57,700) 57,700 (13,900)
Repayments of FHLBNY long term advances (2,000) (7,093) (10,110)
Payments made on capital lease (213) (205) (186)
Sale of treasury stock 643 582 438
Cash dividends paid (4,969) (4,917) (4,878)
Net cash provided by financing activities 27,552 39,564 26,565
Net increase (decrease) in cash and cash equivalents 99,243 (43,433) 47,977
Cash and cash equivalents, beginning of period 30,729 74,162 26,185
Cash and cash equivalents, end of period 129,972 30,729 74,162
Cash paid during the year for:      
Interest 3,989 3,130 3,838
Income Taxes 1,730 4,050 4,360
Supplemental disclosure of non-cash activity:      
Transfer of loans to other real estate owned 267 1,940 412
Dividends declared, not yet paid 1,254 1,233 1,225
Assets acquired through long term capital lease obligation 0 0 2,035
Repurchase of common stock in lieu of employee payroll taxes (112) (61) (22)
Distribution of treasury stock for directors' deferred compensation plan 218 11 3
Distribution of treasury stock for directors' compensation $ 301 $ 269 $ 262