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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 15,609 $ 19,626 $ 7,430
Operating Lease, Right-Of-Use Asset, Amortization 712    
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of intangible assets 609 734 860
Deferred income tax (benefit) expense (1,564) 2,153 4,251
Provision for loan losses 5,945 3,153 9,022
(Gain) loss on disposal of fixed assets 334 10 29
Depreciation and amortization of fixed assets 3,112 3,437 3,703
Amortization of premiums on securities, net 1,055 1,304 1,450
Gains on sales of loans held for sale, net (248) (351) (260)
Proceeds from sales of loans held for sale 12,488 18,262 9,722
Loans originated and held for sale (12,923) (17,871) (9,592)
Net (gains) losses on sale of other real estate owned 99 (90) (38)
Write-downs on OREO 53 14 43
Net change in fair value of equity investments (81) (2,004) (80)
Net gains on securities transactions (19) 0 (109)
Proceeds from sales of trading assets 22 2,288 20
Purchase of trading assets (206) (167) (97)
(Increase) decrease in other assets (1,945) (2,651) 579
Increase (decrease) in accrued interest payable 67 84 (62)
Expense related to restricted stock units for directors' deferred compensation plan 42 67 98
Expense related to employee stock compensation 100 89 200
Expense related to employee restricted stock awards 503 405 210
Payments on operating leases (629)    
Increase (decrease) in other liabilities 3,333 (654) (3,664)
Income from bank owned life insurance (63) (66) (70)
Net cash provided by operating activities 26,405 27,772 23,645
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from sales of securities available for sale 33,690 0 5,576
Proceeds from maturities, calls, and principal paydowns on securities available for sale 49,665 64,180 46,578
Proceeds from maturities and principal collected on securities held to maturity 2,903 1,316 2,891
Purchases of securities available for sale (118,151) (16,033) (41,306)
Purchases of securities held to maturity (1,143) (2,410) (1,967)
Purchase of FHLBNY and FRBNY stock (14) (22,003) (7,208)
Redemption of FHLBNY and FRBNY stock 53 24,649 5,465
Proceeds from sales of fixed assets 0 0 16
Purchases of premises and equipment (883) (1,770) (1,482)
Proceeds from sale of other real estate owned 458 1,709 383
Net increase (decrease) in loans 711 (5,719) (115,588)
Net cash (used by) provided by investing activities (32,711) 43,919 (106,642)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in demand deposits, interest-bearing demand accounts, savings accounts, and insured money market accounts (8,050) 69,927 36,847
Increase (decrease) in time deposits 10,951 31,864 (25,744)
Net decrease in securities sold under agreements to repurchase 0 (10,000) (17,606)
Net change in FHLBNY overnight advances 0 (57,700) 57,700
Repayments of FHLBNY long term advances 0 (2,000) (7,093)
Payments made on capital lease (219) (213) (205)
Sale of treasury stock 585 643 582
Cash dividends paid (5,029) (4,969) (4,917)
Net cash (used in) provided by financing activities (1,762) 27,552 39,564
Net increase (decrease) in cash and cash equivalents (8,068) 99,243 (43,433)
Cash and cash equivalents, beginning of period 129,972 30,729 74,162
Cash and cash equivalents, end of period 121,904 129,972 30,729
Cash paid during the year for:      
Interest 6,254 3,989 3,130
Income Taxes 4,455 1,730 4,050
Supplemental disclosure of non-cash activity:      
Transfer of loans to other real estate owned 517 267 1,940
Dividends declared, not yet paid 1,263 1,254 1,233
Assets acquired through long term capital lease obligation 0 0 0
Repurchase of common stock in lieu of employee payroll taxes (185) (112) (61)
Distribution of treasury stock for directors' deferred compensation plan 13 218 11
Distribution of treasury stock for directors' compensation $ 356 $ 301 $ 269