XML 74 R7.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 28,348 $ 42,668
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 3,129 153
Depreciation and amortization of bank premises and equipment 4,454 4,328
Amortization of premium, net of accretion of discount 4,932 6,462
Net loss from fair value adjustments 6,160 537
Net loss from fair value adjustments on qualifying hedges 2,717 0
Net gain from sale of loans (381) (168)
Net loss from sale of securities 15 0
Net gain from sale of asset (770) 0
Net gain from sale of OREO 0 (27)
Income from bank owned life insurance (2,550) (2,320)
Life insurance proceeds (43) (2,998)
Stock-based compensation expense 6,617 5,973
Deferred compensation (2,526) (2,450)
Deferred income tax benefit (3,777) (1,437)
Increase in other liabilities 4,358 6,580
Decrease in other assets 1,659 2,103
Net cash provided by operating activities 52,342 59,404
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of bank premises and equipment (2,182) (3,421)
Net (purchases) redemptions of Federal Home Loan Bank of New York shares (7,998) 5,147
Purchases of securities held-to-maturity (30,030) (653)
Proceeds from maturities and calls of securities held-to-maturity 1,568 364
Proceeds from prepayments of securities held-to-maturity 434 0
Purchases of securities available for sale (141,798) (102,756)
Proceeds from sales and calls of securities available for sale 65,493 10,000
Proceeds from maturities and prepayments of securities available for sale 88,217 57,839
Proceeds from sale of assets 813 0
Proceeds from bank owned life insurance 777 6,165
Purchase of bank owned life insurance (25,000) 0
Net (originations) repayments of loans (9,660) 3,605
Purchases of loans (193,703) (235,193)
Proceeds from sale of real estate owned 0 665
Proceeds from sale of loans 7,187 14,410
Net cash used in investing activities (245,882) (243,828)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in non-interest bearing deposits 8,039 13,337
Net (decrease) increase in interest-bearing deposits (11,643) 303,288
Net increase in mortgagors' escrow deposits 16,942 16,061
Net proceeds from short-term borrowed funds 115,750 115,250
Proceeds from long-term borrowings 184,950 25,000
Repayment of long-term borrowings (131,301) (256,088)
Purchases of treasury stock (2,656) (21,638)
Proceeds from issuance of common stock upon exercise of stock options 3 6
Cash dividends paid (18,116) (17,244)
Net cash provided by financing activities 161,968 177,972
Net decrease in cash and cash equivalents (31,572) (6,452)
Cash and cash equivalents, beginning of period 118,561 51,546
Cash and cash equivalents, end of period 86,989 45,094
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 85,346 57,811
Income taxes paid 8,531 5,116
Taxes paid if excess tax benefits were not tax deductible 8,523 5,753
Non-cash activities:    
Loans transferred to Other Real Estate Owned or Other Assets 239 673
Securities purchased but not yet settled 0 10,000
Retained Earnings [Member]    
Non-cash activities:    
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings $ 0 $ 2,073