XML 18 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 7,068 $ 11,412
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 972 153
Depreciation and amortization of bank premises and equipment 1,518 1,389
Amortization of premium, net of accretion of discount 1,272 2,018
Net loss from fair value adjustments 2,080 100
Net loss from fair value adjustments on qualifying hedges 637
Net (gain) loss from sale of loans (63) 263
Income from bank owned life insurance (740) (762)
Life insurance proceeds (43) (776)
Stock-based compensation expense 3,931 3,452
Deferred compensation (938) (1,238)
Deferred income tax provision 805 350
Decrease in other liabilities (3,737) (118)
Increase in other assets (942) (955)
Net cash provided by operating activities 11,820 15,288
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of bank premises and equipment (898) (1,867)
Net redemptions of Federal Home Loan Bank of New York shares 6,100 6,044
Purchases of securities held-to-maturity (180) (353)
Proceeds from maturities and calls of securities held-to-maturity 1,568
Proceeds from prepayments of securities held-to-maturity 146
Purchases of securities available for sale (45,730) (32,646)
Proceeds from sales and calls of securities available for sale 13,295 10,000
Proceeds from maturities and prepayments of securities available for sale 16,788 20,943
Proceeds from bank owned life insurance 777 2,741
Net repayments (originations) of loans 16,372 (83,734)
Purchases of loans (56,995) (68,818)
Proceeds from sale of loans 1,170 2,464
Net cash used in investing activities (47,587) (145,226)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net decrease in non-interest bearing deposits (12,683) (7,408)
Net increase in interest-bearing deposits 106,788 302,438
Net increase in mortgagors' escrow deposits 25,254 23,373
Net repayments from short-term borrowed funds (84,250) (10,500)
Repayment of long-term borrowings (51,310) (123,794)
Purchases of treasury stock (1,877) (7,963)
Proceeds from issuance of common stock upon exercise of stock options 3
Cash dividends paid (6,042) (5,795)
Net cash (used) provided by financing activities (24,117) 170,351
Net (decrease) increase in cash and cash equivalents (59,884) 40,413
Cash and cash equivalents, beginning of period 118,561 51,546
Cash and cash equivalents, end of period 58,677 91,959
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 25,830 15,233
Income taxes paid 1,141 1,103
Taxes paid if excess tax benefits were not tax deductible 1,072 1,691
Non-cash activities:    
Loans transferred to Other Real Estate Owned or Other Assets 744
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings  
Retained Earnings [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 7,068 11,412
Non-cash activities:    
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings $ 2,073