XML 44 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 33,388 $ 32,259
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 97 (35)
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 2,178 1,978
Stock plan compensation (excluding ESOP) 1,449 1,584
ESOP compensation expense 958 934
Provision (credit) for loan losses (891) (1,350)
Credit to reduce the liability for loans sold with recourse 0 (1,040)
Increase in cash surrender value of BOLI (1,837) (1,147)
Deferred income tax provision (credit) 148 (116)
Excess tax expense (benefit) from stock benefit plans (204) (71)
Changes in assets and liabilities:    
Decrease in other assets 4,178 (341)
(Decrease) Increase in other liabilities 6,469 1,512
Net cash provided by operating Activities 44,549 33,491
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 1,340 0
Proceeds from Sale of Mortgage Backed Securities (MBS) categorized as Available-for-sale 24,307 0
Purchases of investment securities available-for-sale (2,038) (24)
Purchases of mortgage backed securities available-for-sale 0 (875)
Acquisition of trading securities (1,572) (200)
Principal collected on mortgage backed securities available-for-sale 1,589 4,645
Proceeds from the sale of loans 9,905 12,970
Purchases of loans 0 (221,924)
Loans originated, net of repayments (381,530) (145,861)
Proceeds from the sale of premises 0 4,273
Purchases of fixed assets, net (1,071) (1,500)
(Purchase) Redemption of FHLBNY capital stock 4,059 (7,184)
Net cash used in investing activities (342,814) (340,604)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in due to depositors 369,705 115,467
Increase in escrow and other deposits 39,211 26,426
Repayment of FHLBNY advances (1,829,000) (695,000)
Proceeds from FHLBNY advances 1,725,000 888,225
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 (15,188) (15,075)
Net cash provided by Financing Activities 293,901 320,563
INCREASE IN CASH AND CASH EQUIVALENTS (4,364) 13,450
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 78,437 45,777
CASH AND CASH EQUIVALENTS, END OF PERIOD 74,073 59,227
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 18,809 23,135
Cash paid for interest 35,269 35,689
Loans transferred to OREO 130 0
Transfer of premises to held for sale 9,534 0
Loans transferred to held for sale 8,799 12,943
Amortization of unrealized loss on securities transferred from available-for-sale to held-to-maturity 58 49
Net decrease in non-credit component of OTTI $ (18) $ 24