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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 12,018 $ 4,205
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 1,527 973
Allocation of ESOP stock 245 149
Stock awards 730 330
Tax expense of stock plans 3,916 (270)
Amortization of servicing asset 25 45
Net premium amortization in excess of discount accretion on securities 468 388
Net amortization of deferred costs and discounts on borrowings 32 128
Amortization of core deposit intangible 524 13
Net accretion of purchase accounting adjustments (2,169) (164)
Net amortization of deferred costs and discounts on loans 30 0
Provision for loan losses 700 563
Net loss on sale of other real estate owned 366 65
Net loss on sale of fixed assets 7  
Net gain on sales of loans (42) (179)
Proceeds from sales of mortgage loans held for sale 1,949 9,080
Mortgage loans originated for sale (639) (9,590)
Increase in value of Bank Owned Life Insurance (772) (319)
Increase in interest and dividends receivable (269) (161)
(Increase) decrease in other assets (5,141) 428
(Decrease) increase in other liabilities (1,552) 2,206
Total adjustments (65) 3,685
Net cash provided by operating activities 11,953 7,890
Cash flows from investing activities:    
Net increase in loans receivable (16,292) (14,382)
Purchase of loans receivable (5,029) (12,942)
Purchase of investment securities available-for-sale (34,770)  
Purchase of investment securities held-to-maturity (42,497) 0
Purchase of MBS securities held-to-maturity (79,984)  
Proceeds from maturities and calls of investment securities held-to-maturity 1,375 6,135
Principal repayments on mortgage-backed securities held-to-maturity 23,696 13,029
Proceeds from Bank Owned Life Insurance 155  
Proceeds from the redemption of Federal Home Loan Bank of New York stock 60 5,706
Purchases of Federal Home Loan Bank of New York stock 0 (2,373)
Proceeds from sales of other real estate owned 868 208
Purchases of premises and equipment (961) (876)
Cash acquired, net of cash paid for branch acquisition 0 16,727
Net cash (used in) provided by investing activities (153,379) 11,232
Cash flows from financing activities:    
Increase in deposits 11,204 37,771
Increase (decrease) in short-term borrowings 7,271 (73,959)
Proceeds from Federal Home Loan Bank advances 0 10,000
Repayments of Federal Home Loan Bank advances (477) (468)
Increase in advances by borrowers for taxes and insurance 846 150
Exercise of stock options 2,204 95
Payment of employee taxes withheld from stock awards (956) (199)
Dividends paid (4,787) (2,197)
Net cash provided by (used in) financing activities 15,305 (28,807)
Net decrease in cash and due from banks (126,121) (9,685)
Cash and due from banks at beginning of period 301,373 43,946
Cash and due from banks at end of period 175,252 34,261
Supplemental Disclosure of Cash Flow Information:    
Interest 5,266 2,485
Income taxes 2 0
Non-cash activities:    
Accretion of unrealized loss on securities reclassified to held-to-maturity 293 366
Net loan recoveries (charge-offs) 268 (1,071)
Transfer of loans receivable to other real estate owned $ 318 $ 475