XML 20 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 23,146 $ 61,245
Adjustments to reconcile net income to net cash provided by operating activities:    
Net gain recognized on trading securities (134) (39)
Net gain on the sale of other real estate owned ("OREO") 0 (40)
Net gain on sale of premises held for sale 0 (68,183)
Net depreciation, amortization and accretion 1,836 1,086
Stock plan compensation [excluding Employee Stock Ownership Plan ("ESOP")] 838 943
ESOP compensation expense 0 561
Provision for loan losses 1,497 421
Increase in cash surrender value of BOLI (1,096) (1,119)
Income recognized from mortality benefit on BOLI 0 (484)
Deferred income tax provision 6 615
Reduction in credit related other than temporary impairment ("OTTI") amortized through interest income (52) (52)
Excess tax benefit from stock benefit plans 0 (142)
Changes in assets and liabilities:    
Increase in other assets (10,488) (4,094)
Increase in other liabilities 499 6,038
Net cash provided by (used in) Operating activities 16,052 (3,244)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of investment securities available-for-sale 101 0
Purchases of investment securities available-for-sale (37) (19)
Proceeds from the sales of trading securities 4,544 3,648
Purchases of trading securities (144) (222)
Proceeds from calls and principal repayments of MBS available-for-sale 28 25
Proceeds from the sale of loans 393 0
Purchases of loans 0 (152,637)
Loans originated, net of repayments (240,900) (359,730)
Proceeds from sale of OREO 0 170
Proceeds from surrender of cash surrender value of BOLI 0 1,425
Net proceeds from the sale of premises held for sale 0 75,899
Net purchases of fixed assets (5,527) (16)
Redemption of FHLBNY capital stock, net (6,517) 5,899
Net cash used in Investing Activities (248,059) (425,558)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in due to depositors 23,054 595,956
Increase (decrease) in escrow and other deposits (11,805) 15,160
Repayments of FHLBNY advances (1,359,500) (2,402,500)
Proceeds from FHLBNY advances 1,472,950 2,252,900
Proceeds from exercise of stock options 626 2,900
Excess tax benefit from stock benefit plans 0 142
Release of stock for benefit plan awards 198 299
Cash dividends paid to stockholders (10,520) (10,282)
Proceeds from Subordinated debt issuance, net 113,545 0
Net cash provided by Financing Activities 228,548 454,575
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (3,459) 25,773
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 113,503 64,154
CASH AND CASH EQUIVALENTS, END OF PERIOD 110,044 89,927
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 20,912 29,100
Cash paid for interest 28,124 11,770
Transfer of premises to held for sale 0 1,379
Amortization of unrealized loss on securities transferred from available-for-sale to held-to-maturity 47 25
Net decrease in non-credit component of OTTI $ 17 $ 16