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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 12,260 $ 9,561
Depreciation and amortization of bank premises and equipment 1,165 1,032
Amortization of premium, net of accretion of discount 1,903 2,189
Net loss from fair value adjustments 378 987
Net gain from sale of loans (210) (341)
Income from bank owned life insurance (795) (695)
Gain from life insurance proceeds (1,161) (411)
Stock-based compensation expense 3,085 2,989
Deferred compensation (1,431) (1,774)
Excess tax benefit from stock-based payment arrangements (303)
Deferred income tax provision 2,501 1,570
Increase (decrease) in other liabilities 2,709 (2,006)
(Increase) decrease in other assets (4,364) 3,798
Net cash provided by operating activities 16,040 16,596
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of bank premises and equipment (630) (540)
Net redemptions of Federal Home Loan Bank of New York shares 1,789 2,698
Purchases of securities held-to-maturity (2,330)
Proceeds from maturities of securities held-to-maturity 1,330 2,000
Purchases of securities available for sale (40,581) (58,472)
Proceeds from maturities and prepayments of securities available for sale 18,691 21,316
Proceeds from bank owned life insurance 651 2,237
Net originations of loans (129,764) (53,836)
Purchases of loans (15,621) (12,000)
Proceeds from sale of real estate owned 583 853
Proceeds from sale of loans 5,190 5,915
Net cash used in investing activities (158,362) (92,159)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in non-interest bearing deposits 10,865 10,981
Net increase in interest-bearing deposits 172,471 140,370
Net increase in mortgagors' escrow deposits 21,612 19,768
Net repayments of short-term borrowed funds (68,500) (90,000)
Proceeds from long-term borrowings 80,000 81,758
Repayment of long-term borrowings (51,254) (71,727)
Purchases of treasury stock (2,268) (1,885)
Excess tax benefit from stock-based payment arrangements 303
Proceeds from issuance of common stock upon exercise of stock options 19
Cash dividends paid (5,246) (4,970)
Net cash provided by financing activities 157,680 84,617
Net increase in cash and cash equivalents 15,358 9,054
Cash and cash equivalents, beginning of period 35,857 42,363
Cash and cash equivalents, end of period 51,215 51,417
SUPPLEMENTAL CASHFLOW DISCLOSURE    
Interest paid 12,491 12,921
Income taxes paid 1,000 1,000
Taxes paid if excess tax benefits were not tax deductible 1,000 1,303
Non-cash activities:    
Securities purchased not yet settled 1,375
Loans transferred to Other Real Estate Owned $ 533