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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 30,244 $ 21,358
Adjustments to reconcile net income to net cash provided by operating activities:    
Net gain on sales of securities available-for-sale and other assets (730) (3,142)
Net (gain) loss on equity securities (131) 36
Net gain on sale of loans held for sale (23,063) (521)
Loss on termination of derivatives 16,505  
Net depreciation, amortization and accretion 2,009 2,489
Stock-based compensation 2,350 1,149
Provision for credit losses 11,531 14,072
Originations of loans held for sale (26,198) (12,308)
Proceeds from sale of loans originated for sale 42,679 14,024
Increase in cash surrender value of BOLI (2,932) (1,664)
Gain from death benefits from BOLI 0 (1,134)
Deferred income tax benefit (12,704) (4,263)
Decrease (increase) in other assets 107,810 (12,946)
(Decrease) increase in other liabilities (89,649) 6,431
Net cash provided by operating activities 57,721 23,581
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of securities available-for-sale 138,077 62,797
Proceeds from sales of marketable equity securities 0 273
Purchases of securities available-for-sale (508,315) (107,342)
Acquisition of marketable equity securities 6,101 (122)
Proceeds from calls and principal repayments of securities available-for-sale 290,439 67,250
Purchase of BOLI (40,000) (40,000)
Proceeds received from cash surrender value of BOLI 0 1,452
Loans purchased 0 (18,892)
Proceeds from the sale of portfolio loans transferred to held for sale 667,629 7,074
Net increase in loans (24,351) (94,706)
Purchases of fixed assets, net (643) (1,297)
Redemptions of FHLBNY capital stock, net 61,620 3,714
Net cash received in business combination 715,988 0
Net cash provided by (used in) investing activities 1,306,545 (119,799)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in deposits 1,125,900 166,952
Repayments of FHLBNY advances, long-term (190,150) (159,900)
Repayments of FHLBNY advances, short-term, net (2,663,865) (4,430,620)
Proceeds from FHLBNY advances, short-term 1,435,000 4,443,120
Proceeds from FHLBNY advances, long-term 25,000 72,450
Repayments of other short-term borrowings, net (118,159) (105,000)
Proceeds from preferred stock issuance, net 0 116,569
Proceeds from exercise of stock options 396 38
Release of stock for benefit plan awards 539 28
Payments related to tax withholding for equity awards (147) (248)
BMP ESOP shares received to satisfy distribution of retirement benefits (993)  
Treasury shares repurchased (13,825) (34,968)
Cash dividends paid to preferred stockholders (3,643) (1,140)
Cash dividends paid to common stockholders (19,739) (9,538)
Net cash (used in) provided by financing activities (423,686) 57,743
Increase (decrease) in cash and cash equivalents 940,580 (38,475)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 243,603 155,488
CASH AND CASH EQUIVALENTS, END OF PERIOD 1,184,183 117,013
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 4,655 8,055
Cash paid for interest 17,302 36,068
Loans transferred to held for sale 674,350 9,583
Transfer of cash surrender value for BOLI to other assets 0 1,567
Premises held for investment transferred to held for sale 2,799  
Premises held for sale transferred to investment 0 (514)
Operating lease assets in exchange for operating lease liabilities 4,048 $ 1,524
Cumulative change due to CECL adoption 1,686  
Net non-cash liabilities assumed in Merger (See Note 2) $ 324,479