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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 16,994 $ 15,093
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 3,441 2,370
Allocation of ESOP stock 461 440
Stock awards 1,181 985
Amortization of servicing asset 125 276
Net premium amortization in excess of discount accretion on securities 1,295 1,583
Net amortization of deferred costs and discounts on loans (117) 86
Amortization of core deposit intangible 319 8
Net accretion/amortization of purchase accounting adjustments (3,068) (140)
Provision for loan losses 2,113 975
Net loss (gain) on sale of other real estate owned 208 (84)
Net loss on sale of fixed assets 38  
Net loss on sales of available-for-sale securities 12  
Net gain on sales of loans (696) (637)
Proceeds from sales of mortgage loans held for sale 37,687 42,787
Mortgage loans originated for sale (25,079) (40,255)
Increase in value of Bank Owned Life Insurance (1,520) (1,158)
Increase in interest and dividends receivable (24) (50)
Decrease in other assets 8,464 1,858
Increase (decrease) in other liabilities 4,072 (2,624)
Total adjustments 28,912 6,420
Net cash provided by operating activities 45,906 21,513
Cash flows from investing activities:    
Net decrease (increase) in loans receivable 68,358 (107,776)
Proceeds from sale of high risk loans 12,797  
Purchase of loans receivable (12,942) (22,054)
Purchase of investment securities held-to-maturity (2,030) (9,973)
Proceeds from maturities and calls of investment securities held-to-maturity 53,552 35,861
Proceeds from sales of securities available-for-sale 59,870  
Principal repayments on mortgage-backed securities held-to-maturity 52,110 46,791
Proceeds from Bank Owned Life Insurance 310  
Decrease in Federal Home Loan Bank of New York stock 8,471 3,514
Proceeds from sales of other real estate owned 3,193 1,722
Purchases of premises and equipment (4,580) (3,076)
Cash (received) acquired, net of cash consideration paid for acquisition (477) 3,703
Cash acquired, net of cash paid for branch acquisition 16,727  
Net cash provided by (used in) investing activities 255,359 (51,288)
Cash flows from financing activities:    
Increase in deposits 143,104 124,290
Decrease in short-term borrowings (175,821) (107,619)
Proceeds from Federal Home Loan Bank advances 55,000 40,000
Net proceeds from issuance of subordinated notes 33,899  
Repayments of Federal Home Loan Bank advances (73,678) (1,232)
Repayments of other borrowings (10,000)  
Increase in advances by borrowers for taxes and insurance 237 1,485
Exercise of stock options 2,648 250
Purchase of treasury stock   (6,457)
Dividends paid (8,789) (6,496)
Tax (expense) benefit of stock plans (228) 13
Net cash (used in) provided by financing activities (33,628) 44,234
Net increase in cash and due from banks 267,637 14,459
Cash and due from banks at beginning of period 43,946 36,117
Cash and due from banks at end of period 311,583 50,576
Supplemental Disclosure of Cash Flow Information:    
Interest 8,932 6,629
Income taxes 7,064 7,862
Non-cash activities:    
Accretion of unrealized loss on securities reclassified to held-to-maturity 1,054 1,017
Loans charged-off, net 1,949 654
Transfer of loans receivable to other real estate owned 1,667  
Non-cash assets acquired:    
Securities 212,156 6,758
Federal Home Loan Bank of New York stock 6,782 314
Loans 1,157,753 121,196
Premises & equipment 21,723  
Other real estate owned 1,996 257
Deferred tax asset 21,664 3,244
Other assets 61,793 8,509
Goodwill and other intangible assets, net 68,179 2,122
Total non-cash assets acquired 1,552,046 142,400
Liabilities assumed:    
Deposits 1,248,367 123,346
Federal Home Loan Bank advances 124,466 6,800
Other liabilities 12,835 309
Total liabilities assumed $ 1,385,668 $ 130,455