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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 25,335 $ 24,985
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 153
Depreciation and amortization of bank premises and equipment 2,844 2,320
Amortization of premium, net of accretion of discount 4,463 3,657
Net loss from fair value adjustments 367 1,537
Net gain from sale of loans (158) (244)
Net gain from sale of OREO (27) (50)
Income from bank owned life insurance (1,538) (1,602)
Gain from life insurance proceeds (776) (1,167)
Stock-based compensation expense 4,680 4,190
Deferred compensation (1,815) (1,930)
Deferred income tax (benefit) provision (415) 1,005
Increase in other liabilities 840 4
Decrease (increase) in other assets 2,747 (21)
Net cash provided by operating activities 36,700 32,684
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of bank premises and equipment (2,666) (2,351)
Net redemptions (purchases) of Federal Home Loan Bank of New York shares 2,705 (7,457)
Purchases of securities held-to-maturity (353) (8,030)
Proceeds from maturities of securities held-to-maturity 45 13,330
Purchases of securities available for sale (57,265) (40,641)
Proceeds from sales and calls of securities available for sale 10,000 27,500
Proceeds from maturities and prepayments of securities available for sale 40,915 38,161
Proceeds from bank owned life insurance 2,741 3,911
Net originations of loans (81,420) (201,438)
Purchases of loans (110,140) (58,431)
Proceeds from sale of real estate owned 665 583
Proceeds from sale of loans 10,200 21,575
Net cash used in investing activities (184,573) (213,288)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in non-interest bearing deposits 3,198 16,139
Net increase in interest-bearing deposits 214,773 31,629
Net increase in mortgagors' escrow deposits 8,175 1,087
Net proceeds from short-term borrowed funds 73,500 66,500
Proceeds from long-term borrowings 25,000 173,066
Repayment of long-term borrowings (160,084) (82,049)
Purchases of treasury stock (13,889) (2,599)
Proceeds from issuance of common stock upon exercise of stock options 6
Cash dividends paid (11,547) (10,487)
Net cash provided by financing activities 139,132 193,286
Net (decrease) increase in cash and cash equivalents (8,741) 12,682
Cash and cash equivalents, beginning of period 51,546 35,857
Cash and cash equivalents, end of period 42,805 48,539
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 36,296 27,840
Income taxes paid 3,103 10,646
Taxes paid if excess tax benefits were not tax deductible 3,739 9,409
Non-cash activities:    
Loans transferred to Other Real Estate Owned or Other Assets 673
Loans held for investment transferred to loans available for sale $ 30,565