XML 46 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 20,494 $ 22,609
Adjustments to reconcile net income to net cash provided by operating activities:    
Net gain on sale of investment securities available-for-sale 0 (110)
Net gain on trading securities (77) (83)
Net gain on sale of loans (27) (11)
Net gain on the sale of OREO and other assets (649) 0
Net depreciation, amortization and accretion 1,330 1,391
Stock plan compensation (excluding ESOP) 1,059 849
ESOP compensation expense 637 844
Provision for loan losses (849) 185
Provision for losses on OREO 0 180
Credit to reduce the liability for loans sold with recourse (1,040) (194)
Increase in cash surrender value of BOLI (765) (830)
Deferred income tax provision (credit) 3 55
Excess tax expense (benefit) from stock benefit plans (71) (201)
Changes in assets and liabilities:    
Origination of loans held for sale 0 (1,962)
Proceeds from sale of loans held for sale 0 2,301
Decrease in other assets (598) 7,673
(Decrease) Increase in other liabilities (36) 2,202
Net cash provided by operating activities 19,411 34,898
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of investment securities held-to-maturity 76 487
Proceeds from calls and principal repayments of investment securities available-for-sale 15,000 14,750
Proceeds from sales of investment securities available-for-sale 0 366
Proceeds from sales of trading securities 0 131
Purchases of investment securities available-for-sale (18) (382)
Purchases of mortgage backed securities available-for-sale (875) 0
Acquisition of trading securities (159) (301)
Principal collected on mortgage backed securities available-for-sale 3,344 10,782
Proceeds from the sale of loans 12,970 6,331
Purchases of loans (221,924) (34,373)
Loans originated, net of repayments (66,161) (73,912)
Proceeds from the sale of premises 4,273 0
Purchases of fixed assets, net (1,120) (743)
(Purchase) Redemption of FHLBNY capital stock (5,218) 4,723
Net cash used in investing activities (259,812) (72,141)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in due to depositors 145,934 128,230
Increase in escrow and other deposits 7,526 3,275
Repayment of FHLBNY advances (660,000) (105,000)
Proceeds from FHLBNY advances 768,150 0
Exercise of stock options 278 2,285
Excess tax benefit of stock benefit plans 71 201
BMP benefit distribution 1 0
Release of stock for benefit plan awards 170 253
Cash dividends paid (10,043) (9,786)
Net cash provided by Financing Activities 252,087 19,458
INCREASE IN CASH AND CASH EQUIVALENTS 11,686 (17,785)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 45,777 79,076
CASH AND CASH EQUIVALENTS, END OF PERIOD 57,463 61,291
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 15,535 15,608
Cash paid for interest 23,470 23,839
Loans transferred to OREO 0 765
Amortization of unrealized loss on securities transferred from available-for-sale to held-to-maturity 38 112
Net decrease in non-credit component of OTTI $ 16 $ 16