XML 17 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 7,129 $ 7,953
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 6,000 5,000
Depreciation and amortization of bank premises and equipment 834 766
Amortization of premium, net of accretion of discount 1,561 1,423
Net loss from fair value adjustments 448 655
OTTI charge recognized in earnings   926
Income from bank owned life insurance (696) (667)
Stock-based compensation expense 1,418 1,167
Deferred compensation (306) 103
Amortization of core deposit intangibles 117 117
Excess tax benefit from stock-based payment arrangements (106) (80)
Deferred income tax provision 713 125
Decrease in prepaid FDIC assesment 946 1,337
Decrease in other liabilities (1,676) (3,562)
Decrease (Increase) in other assets 540 (2,408)
Net cash provided by operating activities 16,922 12,855
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of bank premises and equipment (470) (754)
Net (purchase) redemptions of Federal Home Loan Bank of New York shares (1,976) 1,683
Purchases of securities available for sale (122,512) (34,657)
Proceeds from maturities and prepayments of securities available for sale 39,035 38,108
Net (originations) and repayment of loans (19,871) 5,396
Purchases of loans (3,456) (12,555)
Proceeds from sale of real estate owned 624 154
Proceeds from sale of delinquent loans 9,091 3,158
Net cash (used in) provided by investing activities (99,535) 533
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in non-interest bearing deposits 12,921 8,374
Net (decrease) increase in interest-bearing deposits (743) 19,648
Net increase in mortgagors' escrow deposits 11,457 12,512
Net proceeds from short-term borrowed funds 58,500  
Proceeds from long-term borrowings 47,414  
Repayment of long-term borrowings (62,000) (47,423)
Purchases of treasury stock (1,652) (209)
Excess tax benefit from stock-based payment arrangements 106 80
Proceeds from issuance of common stock upon exercise of stock options 244 525
Cash dividends paid (3,965) (3,995)
Net cash provided by (used in) financing activities 62,282 (10,488)
Net (decrease) increase in cash and cash equivalents (20,331) 2,900
Cash and cash equivalents, beginning of period 55,721 47,789
Cash and cash equivalents, end of period 35,390 50,689
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 16,995 19,743
Income taxes paid 5,218 2,366
Taxes paid if excess tax benefits were not tax deductible 5,324 2,446
Non-cash activities:    
Loans transferred to real estate owned 1,293 980
Loans provided for the sale of real estate owned $ 221 $ 244