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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 64,801 $ 73,016
Adjustments to reconcile net income to net cash provided by operating activities:    
Net loss on sales of securities available-for-sale and other assets 1,447  
Net gain on equity securities 780  
Net gain on sale of loans held for sale (808) (1,304)
Net depreciation, amortization and accretion 3,056 4,370
Amortization of other intangible assets 726 1,016
Loss on extinguishment of debt   740
Stock-based compensation 2,660 2,165
Provision (recovery) for credit losses (2,756) (1,548)
Originations of loans held for sale (4,570) (14,790)
Proceeds from sale of loans originated for sale 14,510 28,069
Increase in cash surrender value of BOLI (4,370) (3,826)
Gain from death benefits from BOLI (645) (2,156)
Increase in other assets (31,711) (32,856)
Increase in other liabilities 1,492 94,513
Net cash provided by operating activities 44,612 147,409
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of securities available-for-sale 77,804  
Purchases of securities available-for-sale (78,667) (6,210)
Purchases of securities held-to-maturity (27,136) (41,631)
Proceeds from calls and principal repayments of securities available-for-sale 38,389 112,270
Proceeds from calls and principal repayments of securities held-to-maturity 10,680 14,102
Purchase of BOLI   (30,000)
Proceeds received from cash surrender value of BOLI   2,843
Proceeds from the sale of portfolio loans transferred to held for sale 1,701 13,201
Net increase in loans (326,105) (439,736)
Purchases of fixed assets, net (2,435) (1,753)
Purchases of restricted stock, net (15,979) (4,378)
Net cash used in investing activities (321,748) (381,292)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in deposits 268,386 107,245
Proceeds from FHLBNY advances, short-term, net 155,000 75,000
Proceeds from FHLBNY advances, long-term 162,000  
(Repayments) proceeds of other short-term borrowings, net (1,360) 300
Proceeds from subordinated debentures issuance, net   157,559
Redemption of subordinated debentures   (155,000)
Release of stock for benefit plan awards 602 568
Payments related to tax withholding for equity awards (1,159) (1,415)
Purchase of treasury stock (947) (40,292)
Cash dividends paid to preferred stockholders (3,643) (3,643)
Cash dividends paid to common stockholders (18,536) (18,674)
Net cash provided by financing activities 560,343 121,648
Increase (decrease) in cash and cash equivalents 283,207 (112,235)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 169,297 393,722
CASH AND CASH EQUIVALENTS, END OF PERIOD 452,504 281,487
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 29,470 22,057
Cash paid for interest 114,017 10,895
Securities available-for-sale transferred to held-to-maturity   372,153
Loans transferred to held for sale 11,049 24,178
Premises transferred to held for sale   4,078
Operating lease assets in exchange for operating lease liabilities $ 2,749 $ 1,004