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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 23,307 $ 20,494
Adjustments to reconcile net income to net cash provided by operating activities:    
Net gain on sale of investment securities available-for-sale (1,384) 0
Net gain on trading securities (41) (77)
Net gain on sale of loans 0 (27)
Net gain on the sale of OREO and other assets 0 (649)
Net depreciation, amortization and accretion 1,602 1,330
Stock plan compensation (excluding ESOP) 1,015 1,059
ESOP compensation expense 627 637
Credit for loan losses (1,307) (849)
Credit to reduce the liability for loans sold with recourse 0 (1,040)
Increase in cash surrender value of BOLI (1,216) (765)
Deferred income tax provision (credit) (76) 3
Excess tax expense (benefit) from stock benefit plans (204) (71)
Changes in assets and liabilities:    
Decrease in other assets (784) (598)
(Decrease) Increase in other liabilities (425) (36)
Net cash provided by operating activities 21,114 19,411
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of investment securities held-to-maturity 127 76
Proceeds from calls and principal repayments of investment securities available-for-sale 0 15,000
Proceeds from sales of investment securities available-for-sale 2,070 0
Proceeds from sales of trading securities 1,337 0
Proceeds from Sale of Mortgage Backed Securities (MBS) categorized as Available-for-sale 24,307 0
Purchases of investment securities available-for-sale (2,021) (18)
Purchases of mortgage backed securities available-for-sale 0 (875)
Acquisition of trading securities (1,514) (159)
Principal collected on mortgage backed securities available-for-sale 1,577 3,344
Proceeds from the sale of loans 9,201 12,970
Purchases of loans 0 (221,924)
Loans originated, net of repayments (195,320) (66,161)
Proceeds from the sale of premises 0 4,273
Purchases of fixed assets, net (456) (1,120)
(Purchase) Redemption of FHLBNY capital stock 5,679 (5,218)
Net cash used in investing activities (155,013) (259,812)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in due to depositors 274,015 145,934
Increase in escrow and other deposits (4,682) 7,526
Repayment of FHLBNY advances (918,000) (660,000)
Proceeds from FHLBNY advances 778,000 768,150
Exercise of stock options 4,056 278
Excess tax benefit of stock benefit plans 204 71
Release of stock for benefit plan awards 213 171
Treasury shares repurchased (300) 0
Cash dividends paid (10,098) (10,043)
Net cash provided by Financing Activities 123,408 252,087
INCREASE IN CASH AND CASH EQUIVALENTS (10,491) 11,686
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 78,437 45,777
CASH AND CASH EQUIVALENTS, END OF PERIOD 67,946 57,463
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 17,559 15,535
Cash paid for interest 24,071 23,470
Loans transferred to OREO 130 0
Transfer of premises to held for sale 8,799 0
Loans transferred to held for sale 9,534 12,970
Amortization of unrealized loss on securities transferred from available-for-sale to held-to-maturity 47 38
Net decrease in non-credit component of OTTI $ (27) $ 16