XML 72 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Operating Activities      
Net income $ 44,239us-gaap_NetIncomeLoss $ 37,752us-gaap_NetIncomeLoss $ 34,331us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision (benefit) for loan losses (6,021)us-gaap_ProvisionForLoanLossesExpensed 13,935us-gaap_ProvisionForLoanLossesExpensed 21,000us-gaap_ProvisionForLoanLossesExpensed
Depreciation and amortization of premises and equipment 2,813us-gaap_DepreciationAndAmortization 2,953us-gaap_DepreciationAndAmortization 3,207us-gaap_DepreciationAndAmortization
Net loss on sales of loans held for sale   108us-gaap_GainLossOnSaleOfOtherInvestments 9us-gaap_GainLossOnSaleOfOtherInvestments
Net gain on sales of loans (including delinquent loans) (67)us-gaap_GainLossOnSalesOfLoansNet (284)us-gaap_GainLossOnSalesOfLoansNet (31)us-gaap_GainLossOnSalesOfLoansNet
Net gain on sales of securities (2,875)us-gaap_GainLossOnSaleOfSecuritiesNet (3,021)us-gaap_GainLossOnSaleOfSecuritiesNet (47)us-gaap_GainLossOnSaleOfSecuritiesNet
Other-than-temporary impairment charge on securities   1,419us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet 776us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
Amortization of premium, net of accretion of discount 7,292us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 7,588us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 6,643us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Fair value adjustment for financial assets and financial liabilities 2,568us-gaap_FairValueOptionChangesInFairValueGainLoss1 2,521us-gaap_FairValueOptionChangesInFairValueGainLoss1 (55)us-gaap_FairValueOptionChangesInFairValueGainLoss1
Income from bank owned life insurance (3,050)us-gaap_BankOwnedLifeInsuranceIncome (3,363)us-gaap_BankOwnedLifeInsuranceIncome (2,790)us-gaap_BankOwnedLifeInsuranceIncome
Stock based compensation expense 4,263us-gaap_ShareBasedCompensation 3,412us-gaap_ShareBasedCompensation 3,260us-gaap_ShareBasedCompensation
Deferred compensation (2,514)us-gaap_IncreaseDecreaseInDeferredCompensation (790)us-gaap_IncreaseDecreaseInDeferredCompensation (86)us-gaap_IncreaseDecreaseInDeferredCompensation
Amortization of core deposit intangibles   468us-gaap_AmortizationOfIntangibleAssets 469us-gaap_AmortizationOfIntangibleAssets
Excess tax provision (benefits) from stock-based payment arrangements (846)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (443)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities 303us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Deferred income tax provision (benefit) 4,154us-gaap_DeferredIncomeTaxExpenseBenefit (682)us-gaap_DeferredIncomeTaxExpenseBenefit (804)us-gaap_DeferredIncomeTaxExpenseBenefit
Net decrease in prepaid FDIC assessment   3,287us-gaap_IncreaseDecreaseInPrepaidExpense 3,888us-gaap_IncreaseDecreaseInPrepaidExpense
(Decrease) increase in other assets 8,110us-gaap_IncreaseDecreaseInOtherOperatingAssets (1,410)us-gaap_IncreaseDecreaseInOtherOperatingAssets (3,695)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Increase (decrease) in other liabilities (690)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 10,985us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 4,719us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Net cash provided by operating activities 57,376us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 74,435us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 71,097us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Investing Activities      
Purchases of premises and equipment (4,325)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (809)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (1,290)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net purchases of Federal Home Loan Bank-NY shares (899)us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock (3,688)us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock (12,092)us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock
Purchases of securities available for sale (162,830)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (458,596)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (311,654)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Proceeds from sales and calls of securities available for sale 115,294ffic_ProceedsFromSalesAndCallsOfAvailableForSaleSecurities 194,009ffic_ProceedsFromSalesAndCallsOfAvailableForSaleSecurities 12,637ffic_ProceedsFromSalesAndCallsOfAvailableForSaleSecurities
Proceeds from maturities and prepayments of securities available for sale 112,137ffic_ProceedsFromMaturitiesAndPrepaymentsOfAvailableForSaleSecurities 149,387ffic_ProceedsFromMaturitiesAndPrepaymentsOfAvailableForSaleSecurities 170,798ffic_ProceedsFromMaturitiesAndPrepaymentsOfAvailableForSaleSecurities
Net originations of loans (248,073)us-gaap_PaymentsForProceedsFromLoansAndLeases (236,582)us-gaap_PaymentsForProceedsFromLoansAndLeases (78,379)us-gaap_PaymentsForProceedsFromLoansAndLeases
Purchases of loans (169,860)us-gaap_PaymentsToAcquireLoansHeldForInvestment (10,189)us-gaap_PaymentsToAcquireLoansHeldForInvestment (3,456)us-gaap_PaymentsToAcquireLoansHeldForInvestment
Proceeds from sale of delinquent loans 15,857us-gaap_ProceedsFromSaleOfLoansHeldForInvestment 35,681us-gaap_ProceedsFromSaleOfLoansHeldForInvestment 44,223us-gaap_ProceedsFromSaleOfLoansHeldForInvestment
Purchase of bank owned life insurance     (20,000)us-gaap_PaymentsToAcquireLifeInsurancePolicies
Proceeds from sale of Real Estate Owned 3,123us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans 4,763us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans 1,225us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
Net cash used in investing activities (339,576)us-gaap_NetCashProvidedByUsedInInvestingActivities (326,024)us-gaap_NetCashProvidedByUsedInInvestingActivities (197,988)us-gaap_NetCashProvidedByUsedInInvestingActivities
Financing Activities      
Net increase in non-interest bearing deposits 58,491us-gaap_NetChangeNoninterestBearingDepositsDomestic 41,554us-gaap_NetChangeNoninterestBearingDepositsDomestic 37,282us-gaap_NetChangeNoninterestBearingDepositsDomestic
Net (decrease) increase in interest bearing deposits 213,502us-gaap_NetChangeInterestBearingDepositsDomestic 174,715us-gaap_NetChangeInterestBearingDepositsDomestic (172,193)us-gaap_NetChangeInterestBearingDepositsDomestic
Net increase in mortgagors' escrow deposits 2,881ffic_NetIncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance1 238ffic_NetIncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance1 2,774ffic_NetIncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance1
Net proceeds (repayments) from short-term borrowed funds 30,500us-gaap_ProceedsFromRepaymentsOfShortTermDebt (102,500)us-gaap_ProceedsFromRepaymentsOfShortTermDebt 132,000us-gaap_ProceedsFromRepaymentsOfShortTermDebt
Proceeds from long-term borrowings 180,000us-gaap_ProceedsFromIssuanceOfLongTermDebt 269,346us-gaap_ProceedsFromIssuanceOfLongTermDebt 212,518us-gaap_ProceedsFromIssuanceOfLongTermDebt
Repayment of long-term borrowings (167,081)us-gaap_RepaymentsOfLongTermDebt (109,911)us-gaap_RepaymentsOfLongTermDebt (80,000)us-gaap_RepaymentsOfLongTermDebt
Purchases of treasury stock (18,872)us-gaap_PaymentsForRepurchaseOfCommonStock (14,151)us-gaap_PaymentsForRepurchaseOfCommonStock (5,551)us-gaap_PaymentsForRepurchaseOfCommonStock
Excess tax benefits (provision) from stock-based payment arrangements 846us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 443us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities (303)us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Proceeds from issuance of common stock upon exercise of stock options 565us-gaap_ProceedsFromStockOptionsExercised 533us-gaap_ProceedsFromStockOptionsExercised 885us-gaap_ProceedsFromStockOptionsExercised
Cash dividends paid (17,852)us-gaap_PaymentsOfDividends (15,618)us-gaap_PaymentsOfDividends (15,817)us-gaap_PaymentsOfDividends
Net cash provided by financing activities 282,980us-gaap_NetCashProvidedByUsedInFinancingActivities 244,649us-gaap_NetCashProvidedByUsedInFinancingActivities 111,595us-gaap_NetCashProvidedByUsedInFinancingActivities
Net (decrease) increase in cash and cash equivalents 780us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (6,940)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (15,296)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of year 33,485us-gaap_CashAndCashEquivalentsAtCarryingValue 40,425us-gaap_CashAndCashEquivalentsAtCarryingValue 55,721us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of year 34,265us-gaap_CashAndCashEquivalentsAtCarryingValue 33,485us-gaap_CashAndCashEquivalentsAtCarryingValue 40,425us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental Cash Flow Disclosure      
Interest paid 53,965us-gaap_InterestPaid 53,602us-gaap_InterestPaid 62,368us-gaap_InterestPaid
Income taxes paid 24,943us-gaap_IncomeTaxesPaid 21,389us-gaap_IncomeTaxesPaid 21,947us-gaap_IncomeTaxesPaid
Taxes paid if excess tax benefits on stock-based compensation were not tax deductible 25,789ffic_IncomeTaxesPaidIfExcessTaxBenefitsExpenseWereNotTaxDeductibleTaxable 21,832ffic_IncomeTaxesPaidIfExcessTaxBenefitsExpenseWereNotTaxDeductibleTaxable 21,644ffic_IncomeTaxesPaidIfExcessTaxBenefitsExpenseWereNotTaxDeductibleTaxable
Non-cash activities:      
Loans transferred to Other Real Estate Owned 7,112us-gaap_TransferToOtherRealEstate 5,369us-gaap_TransferToOtherRealEstate 6,127us-gaap_TransferToOtherRealEstate
Loans provided for the sale of Other Real Estate Owned 712us-gaap_MortgageLoanRelatedToPropertySales1 3,011us-gaap_MortgageLoanRelatedToPropertySales1 2,110us-gaap_MortgageLoanRelatedToPropertySales1
Loans held for investment transferred to loans held for sale 1,150us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1 13,008us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1 12,200us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1
Loans held for sale transferred to loans held for investment   $ 2,214us-gaap_TransferOfLoansHeldForSaleToPortfolioLoans1 $ 400us-gaap_TransferOfLoansHeldForSaleToPortfolioLoans1