XML 24 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income $ 20,741 $ 20,378 $ 15,653
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of premises and equipment 2,454 2,154 1,985
Allocation of ESOP stock 450 416 409
Stock awards 904 1,047 734
Amortization and impairment of servicing asset 1,853 2,018 2,374
Net premium amortization in excess of discount accretion on securities 2,366 1,804 578
Net premium amortization of deferred fees and discounts on loans 812 998 933
Provision for loan losses 7,750 8,000 5,700
Recovery for repurchased loans     (245)
Deferred tax benefit (2,813) (4,550) (1,955)
Net (gain) loss from sale of premises and equipment (16) 9 6
Net loss (gain) on sales of real estate owned 278 476 (166)
Net gain on sales of loans available for sale (3,002) (3,657) (3,650)
Other than temporary impairment losses on investment securities and net loss on sales of securities available for sale 148   4
Proceeds from sales of mortgage loans held for sale 135,705 166,820 235,000
Mortgage loans originated for sale (136,362) (165,335) (234,765)
Increase value of Bank Owned Life Insurance (1,172) (845) (835)
Decrease (increase) in interest and dividends receivable 14 (387) 239
(Increase) decrease in other assets (1,024) 878 (7,871)
(Decrease) increase in other liabilities (11,536) 9,717 2,700
Total adjustments (3,191) 19,563 1,175
Net cash provided by operating activities 17,550 39,941 16,828
Cash flows from investing activities:      
Net decrease (increase) in loans receivable 86,290 (41,945) 10,085
Proceeds from sales of investment securities available for sale     1,822
Purchase of investment securities available for sale (74,011) (52,959) (300)
Purchase of mortgage-backed securities available for sale (101,560) (233,685) (156,665)
Proceeds from maturities or calls of investment securities available for sale 514 1,600 150
Principal payments on mortgage-backed securities available for sale 85,839 69,024 24,380
(Increase) decrease in Federal Home Loan Bank of New York stock (1,232) 2,506 1,476
Net proceeds from sale and acquisition of real estate owned 2,964 1,285 1,070
Proceeds from sale of premises and equipment 16    
Purchases of premises and equipment (2,227) (2,563) (2,743)
Net cash used in investing activities (3,407) (256,737) (120,725)
Cash flows from financing activities:      
Increase in deposits 42,115 299,769 90,067
(Decrease) increase in short-term borrowings including short-term Federal Home Loan Bank advances (1,763) (133,709) 5,251
Proceeds from Federal Home Loan Bank advances 55,000 154,000 78,000
Repayments of Federal Home loan Bank advances (54,000) (85,000) (108,000)
Increase (decrease) in advances by borrowers for taxes and insurance 166 (506) (128)
Tax benefit (expense) of stock plans 1,303 (23) 150
Exercise of stock options 44 7 95
Purchase of treasury stock (2,147)    
Dividends paid - common stock (8,789) (8,764) (9,417)
Dividends paid - preferred stock     (1,828)
Proceeds from issuance of preferred stock and warrants     38,263
Redemption of warrants and preferred stock   (431) (38,263)
(Expenses) net proceeds from common stock issuance   (108) 54,248
Net cash provided by financing activities 31,929 225,235 108,438
Net increase in cash and due from banks 46,072 8,439 4,541
Cash and due from banks at beginning of year 31,455 23,016 18,475
Cash and due from banks at end of year 77,527 31,455 23,016
Supplemental disclosure of cash flow information:      
Interest 18,464 24,279 30,923
Income taxes 18,210 10,509 9,869
Non-cash investing activities:      
Transfer of loans receivable to real estate owned $ 2,917 $ 1,443 $ 2,376