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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 63,710 $ 31,213
Adjustments to reconcile net income to net cash provided by operating activities:    
(Benefit) Provision for credit losses (5,705) 19,267
Depreciation and amortization of bank premises and equipment 4,904 4,633
Amortization of premium, net of (accretion) of discount (1,062) 4,721
Net (gain) loss from fair value adjustments 7,855 (1,987)
Net (gain) loss from fair value adjustments on qualifying hedges (957) 2,208
Net gain from sale of loans (289) (42)
Net (gain) loss from sale of securities (113) 91
Net gain from disposition of assets (621) 0
Net loss from OREO 0 36
Income from bank owned life insurance (3,021) (2,798)
Life insurance proceeds 0 (659)
Amortization of core deposit intangibles 464 0
Stock-based compensation expense 5,516 5,510
Deferred compensation (2,571) (3,579)
Deferred income tax benefit (762) (4,174)
(Decrease) Increase in other liabilities (8,524) 6,143
Decrease (Increase) in other assets 821 (15,043)
Net cash provided by operating activities 59,645 45,540
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of bank premises and equipment (2,839) (1,723)
Net redemptions (purchases) of Federal Home Loan Bank of New York shares 7,281 (198)
Proceeds from maturities and calls of securities held-to-maturity 0 180
Proceeds from prepayments of securities held-to-maturity 0 129
Purchases of securities available for sale (508,402) (130,397)
Proceeds from sales and calls of securities available for sale 58,613 143,376
Proceeds from maturities and prepayments of securities available for sale 294,004 142,320
Proceeds from bank owned life insurance 0 2,477
Net repayments (originations) of loans 232,391 (11,295)
Purchases of loans (192,705) (132,893)
Proceeds from sale of real estate owned 0 203
Proceeds from sale of loans 24,967 580
Net cash (used in) provided by investing activities (86,690) 12,759
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in non-interest bearing deposits 162,587 172,882
Net increase (decrease) in interest-bearing deposits 168,174 (288,694)
Net increase in mortgagors' escrow deposits 21,585 12,761
Net proceeds from short-term borrowed funds (25,000) 0
Proceeds from long-term borrowings 0 240,378
Repayment of long-term borrowings (251,393) (147,771)
Purchases of treasury stock (7,778) (3,872)
Cash dividends paid (19,920) (18,210)
Net cash provided by (used in) financing activities 48,255 (32,526)
Net increase in cash and cash equivalents 21,210 25,773
Cash and cash equivalents, beginning of period 157,388 49,787
Cash and cash equivalents, end of period 178,598 75,560
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 30,727 57,334
Income taxes paid 21,419 13,594
Taxes paid if excess tax benefits on stock-based compensation were not tax deductible $ 21,083 $ 13,404