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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net income $ 4,044 $ 18,219
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses 7,508 1,358
Depreciation and amortization of premises and equipment 1,510 1,460
Net gain on sales of loans (54) 0
Net amortization (accretion) of premiums and discounts 1,234 (492)
Deferred income tax provision 1,136 0
Net (gain) loss from fair value adjustments (2,619) 1,809
Net (gain) loss from fair value adjustments of qualifying hedges (100) 129
Income from bank owned life insurance (1,109) (1,114)
Stock-based compensation expense 3,808 4,194
Deferred compensation (1,707) (2,545)
Amortization of core deposit intangibles 126 142
(Increase) decrease in other assets (9,033) 3,570
(Decrease) increase in other liabilities (15,162) 13,847
Net cash (used in) provided by operating activities (10,418) 40,577
Investing Activities    
Purchases of premises and equipment (1,327) (874)
Purchases of Federal Home Loan Bank - NY shares (55,017) (388)
Redemptions of Federal Home Loan Bank - NY shares 62,080 2,434
Purchases of securities held-to-maturity 0 (16,476)
Proceeds from prepayments of securities held-to-maturity 200 0
Purchases of securities available for sale (93,068) (130,312)
Proceeds from maturities and prepayments of securities available for sale 21,087 32,177
Change in cash collateral (6,180) 0
Net repayments of loans 75,496 72,080
Purchases of loans (44,466) (54,309)
Proceeds from sale of loans 2,575 0
Net cash used in investing activities (38,620) (95,668)
Financing Activities    
Net (decrease) increase in noninterest-bearing deposits (48,984) 73,406
Net increase in interest-bearing deposits 267,208 16,482
Net increase in mortgagors' escrow deposits 30,414 27,582
Net (repayments) proceeds from short-term borrowed funds (235,000) 110,000
Proceeds (repayments) from long-term borrowing 71,761 (50,000)
Purchase of treasury shares and repurchase of shares to satisfy tax obligations (4,709) (10,845)
Cash dividends paid (6,659) (6,850)
Net cash provided by financing activities 74,031 159,775
Net increase in cash and cash equivalents, and restricted cash 24,993 104,684
Cash, cash equivalents, and restricted cash, beginning of period 151,754 81,723
Cash, cash equivalents, and restricted cash, end of period 176,747 186,407
Supplemental Cash Flow Disclosure    
Interest paid 48,889 6,846
Income taxes paid 1,993 214
Taxes paid if excess tax benefits on stock-based compensation were not tax deductible $ 1,948 $ 384