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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 68,639,000 $ 37,226,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Net gain on sales of securities available-for-sale and other assets (730,000) (3,357,000)
Net gain on equity securities (131,000) (139,000)
Net gain on sale of loans held for sale (23,715,000) (1,946,000)
Loss on termination of derivatives 16,505,000  
Net depreciation, amortization and accretion 4,907,000 3,786,000
Amortization of Intangible Assets 1,907,000 0
Stock-based compensation 3,885,000 1,953,000
Provision for credit losses 6,344,000 20,003,000
Originations of loans held for sale (38,709,000) (26,007,000)
Proceeds from sale of loans originated for sale 57,558,000 38,789,000
Increase in cash surrender value of BOLI (4,831,000) (2,697,000)
Gain from death benefits from BOLI (350,000) (1,134,000)
Deferred income tax benefit (12,704,000) (6,841,000)
Decrease (increase) in other assets 126,377,000 (17,810,000)
(Decrease) increase in other liabilities (45,669,000) 6,148,000
Net cash provided by operating activities 159,283,000 47,974,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of securities available-for-sale 138,077,000 68,784,000
Proceeds from sales of marketable equity securities 6,101,000 410,000
Purchases of securities available-for-sale (1,025,697,000) (149,353,000)
Purchases of securities held-to-maturity (40,303,000)  
Acquisition of marketable equity securities 0 (136,000)
Proceeds from calls and principal repayments of securities available-for-sale 350,598,000 121,169,000
Purchase of BOLI (40,000,000) (40,000,000)
Proceeds received from cash surrender value of BOLI 1,464,000 3,020,000
Loans purchased (9,855,000) (18,892,000)
Proceeds from the sale of portfolio loans transferred to held for sale 681,956,000 35,025,000
Net decrease (increase) in loans 244,995,000 (266,490,000)
Purchases of fixed assets, net (781,000) (1,442,000)
Redemptions (purchases) of restricted stock, net 46,350,000 (1,286,000)
Net cash received in business combination 715,988,000 0
Net cash provided by (used in) investing activities 1,068,893,000 (249,191,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in deposits 733,744,000 133,042,000
Repayments of FHLBNY advances, long-term (190,150,000) (188,800,000)
Repayments of FHLBNY advances, short-term, net (2,663,865,000)  
Proceeds from FHLBNY advances, short-term 1,435,000,000 127,500,000
Proceeds from FHLBNY advances, long-term 25,000,000 97,450,000
Repayments of other short-term borrowings, net (117,371,000) (40,000,000)
Proceeds from preferred stock issuance, net 0 116,569,000
Proceeds from exercise of stock options 396,000 38,000
Release of stock for benefit plan awards 779,000 28,000
Payments related to tax withholding for equity awards (147,000) (329,000)
BMP ESOP shares received to satisfy distribution of retirement benefits (993,000)  
Treasury shares repurchased (29,973,000) (35,356,000)
Redemption of REIT preferred stock (121,000)  
Cash dividends paid to preferred stockholders (5,465,000) (2,962,000)
Cash dividends paid to common stockholders (29,602,000) (14,168,000)
Net cash (used in) provided by financing activities (842,768,000) 193,012,000
Increase (decrease) in cash and cash equivalents 385,408,000 (8,205,000)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 243,603,000 155,488,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 629,011,000 147,283,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 17,930,000 13,755,000
Cash paid for interest 21,995,000 46,972,000
Loans transferred to held for sale 685,747,000 47,938,000
Loans transferred to held for investment 10,000,000  
Premises held for investment transferred to held for sale 2,799,000  
Premises held for sale transferred premises and fixed assets, net 0 (514,000)
Operating lease assets in exchange for operating lease liabilities 4,048,000 $ 1,524,000
Cumulative change due to CECL adoption 1,686,000  
Net non-cash liabilities assumed in Merger (See Note 2) $ 324,479,000