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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating Activities      
Net income $ 64,916 $ 46,209 $ 44,239
Adjustments to reconcile net income to net cash provided by operating activities:      
Benefit for loan losses 0 (956) (6,021)
Depreciation and amortization of bank premises and equipment 4,450 3,579 2,813
Net gain on sales of loans (including delinquent loans) (584) (422) (67)
Net gain on sales of securities (1,524) (167) (2,875)
Net gain on sales of buildings (48,018) (6,537) 0
Amortization of premium, net of accretion of discount 8,453 8,986 7,292
Fair value adjustment for financial assets and financial liabilities 3,434 1,841 2,568
Income from bank owned life insurance (2,797) (2,880) (3,050)
Gain from life insurance proceeds (460) 0 0
Stock-based compensation expense 5,884 4,845 4,263
Deferred compensation (4,033) (3,561) (2,514)
Excess tax benefits from stock-based payment arrangements (712) (574) (846)
Deferred income tax provision (benefit) (1,540) (5,210) 4,154
(Increase) decrease in other assets 5,170 (5,284) 8,110
Increase (decrease) in other liabilities 9,756 4,861 (690)
Net cash provided by operating activities 42,395 44,730 57,376
Investing Activities      
Purchases of premises and equipment (6,655) (11,089) (4,325)
Net purchases of Federal Home Loan Bank-NY shares (3,107) (9,142) (899)
Purchases of securities held-to-maturity (40,205) (5,100) 0
Proceeds from maturities of securities held-to-maturity 8,515 3,430 0
Purchases of securities available for sale (139,186) (313,822) (162,830)
Proceeds from sales and calls of securities available for sale 143,819 163,158 115,294
Proceeds from maturities and prepayments of securities available for sale 118,498 114,097 112,137
Proceeds from sale of buildings 49,284 20,209
Purchase of Bank Owned Life Insurance (16,000) 0 0
Proceeds from Life Insurance 2,432 0 0
Net originations of loans (267,446) (301,766) (248,073)
Purchases of loans (186,717) (278,928) (169,860)
Proceeds from sale of loans 11,499 16,252 15,857
Proceeds from sale of Other Real Estate Owned, net 3,037 2,185 3,123
Net cash used in investing activities (322,232) (600,516) (339,576)
Financing Activities      
Net increase in non interest-bearing deposits 63,694 13,635 58,491
Net increase in interest-bearing deposits 245,271 368,137 213,502
Net increase in mortgagors' escrow deposits 3,372 1,165 2,881
Net proceeds from short-term borrowed funds 178,500 30,000 30,500
Proceeds from long-term borrowings 300,000 310,000 180,000
Repayment of long-term borrowings (562,401) (125,551) (167,081)
Issuance of subordinated debentures, net of issuance costs of $1,598 73,402 0 0
Purchases of treasury stock (9,858) (15,605) (18,872)
Excess tax benefits from stock-based payment arrangements 712 574 846
Proceeds from issuance of common stock upon exercise of stock options 328 145 565
Cash dividends paid (19,689) (18,616) (17,852)
Net cash provided by financing activities 273,331 563,884 282,980
Net (decrease) increase in cash and cash equivalents (6,506) 8,098 780
Cash and cash equivalents, beginning of year 42,363 34,265 33,485
Cash and cash equivalents, end of year 35,857 42,363 34,265
Supplemental Cash Flow Disclosure      
Interest paid 53,755 48,467 53,965
Income taxes paid 36,813 32,574 24,943
Taxes paid if excess tax benefits on stock-based compensation were not tax deductible 37,525 33,148 25,789
Non-cash activities:      
Securities transferred from available for sale to held-to-maturity 0 4,510 0
Loans transferred to Other Real Estate Owned 639 1,667 7,112
Loans provided for the sale of Other Real Estate Owned 0 280 712
Loans held for investment transferred to loans held for sale $ 0 $ 300 $ 1,150