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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (21,034) $ 8,392
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Net gain on sales of securities available-for-sale and other assets (710) (8)
Net (gain) loss on equity securities (131) 472
Net gain on sale of loans held for sale (887) (315)
Net depreciation, amortization and accretion (977) 1,294
Stock-based compensation 836 671
Provision for credit losses 15,779 8,012
Originations of loans held for sale (12,868) (6,217)
Proceeds from sale of loans originated for sale 20,291 8,103
Increase in cash surrender value of BOLI (1,340) (756)
Gain from death benefits from BOLI 0 (1,131)
Deferred income tax benefit (12,704) (2,090)
Decrease in other assets 89,179 1,530
(Decrease) increase in other liabilities (84,352) 2,515
Net cash (used in) provided by operating activities (8,918) 20,472
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of securities available-for-sale 134,558 4,199
Proceeds from sales of marketable equity securities 6,101 137
Purchases of securities available-for-sale (327,222) (33,244)
Acquisition of marketable equity securities 0 (113)
Proceeds from calls and principal repayments of securities available-for-sale 214,029 32,312
Purchase of BOLI 0 (20,000)
Loans purchased 0 (892)
Proceeds from the sale of portfolio loans transferred to held for sale 3,900  
Net (increase) decrease in loans (326,077) 131,569
Purchases of fixed assets, net 1,651 (1,034)
Sales (purchases) of FHLBNY capital stock, net 39,006 (1,127)
Net cash received in business combination 715,988 0
Net cash provided by investing activities 461,934 111,807
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase (decrease) in deposits 870,519 (3,183)
Repayments of FHLBNY advances, long-term (140,150) (3,615,520)
(Repayments) proceeds of FHLBNY advances, short-term, net (745,000) 3,640,570
Proceeds (repayments) of other short-term borrowings, net 6,763 (110,000)
Proceeds from preferred stock issuance, net 0 72,224
Proceeds from exercise of stock options 372  
Release of stock for benefit plan awards 192  
Payments related to tax withholding for equity awards 0 (79)
BMP ESOP shares received to satisfy distribution of retirement benefits (993)  
Treasury shares repurchased 0 (20,711)
Cash dividends paid to preferred stockholders (1,821)  
Cash dividends paid to common stockholders (9,778) (4,915)
Net cash used in financing activities (19,896) (41,614)
Increase in cash and cash equivalents 433,120 90,665
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 243,603 155,488
CASH AND CASH EQUIVALENTS, END OF PERIOD 676,723 246,153
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 4,625 955
Cash paid for interest 8,624 16,881
Loans transferred to held for sale 18,144 2,509
Transfer of cash surrender value for BOLI to other assets 0 $ 3,016
Cumulative change due to CECL adoption 1,686  
Net non-cash liabilities assumed in Merger $ 324,479