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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 21,358 $ 24,536
Adjustments to reconcile net income to net cash provided by operating activities:    
Net (gain) loss on sales of securities available-for-sale (3,142) 133
Net (gain) loss recognized on marketable equity securities 36 (416)
Net gain on sale of loans held for sale (521) (594)
Net depreciation, amortization and accretion 2,489 2,495
Stock-based compensation 1,149 775
Provision (credit) for loan losses 14,072 (128)
Originations of loans held for sale (12,308) (4,202)
Proceeds from sale of loans originated for sale 14,024 7,969
Increase in cash surrender value of BOLI (1,664) (1,401)
Gain from death benefits from BOLI (1,134) 0
Deferred income tax expense (benefit) (4,263) 1,005
Changes in assets and liabilities:    
Increase in other assets (12,946) (237)
Increase (decrease) in other liabilities 6,431 (3,940)
Net cash provided by Operating Activities 23,581 25,995
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of securities available-for-sale 62,797 104,131
Proceeds from sales of marketable equity securities 273 273
Purchases of securities available-for-sale (107,342) (117,656)
Acquisition of marketable equity securities (122) (143)
Proceeds from calls and principal repayments of securities available-for-sale 67,250 48,399
Purchase of BOLI (40,000) 0
Proceeds received from cash surrender value of BOLI 1,452 0
Loans purchased (18,892) 0
Proceeds from the sale of portfolio loans transferred to held for sale 7,074 8,282
Net increase in loans (94,706) (152,459)
Purchases of fixed assets, net (1,297) (466)
Sale of FHLBNY capital stock, net 3,714 500
Net cash used in Investing Activities (119,799) (109,139)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in due to depositors 155,787 78,782
Increase in escrow and other deposits 11,165 577
Repayments of FHLBNY advances (4,590,520) (1,657,650)
Proceeds from FHLBNY advances 4,515,570 1,647,500
Proceeds (repayments) of other borrowings, net (105,000) 58,000
Proceeds from preferred stock issuance, net 116,569 0
Proceeds from exercise of stock options 38 73
Release of stock for benefit plan awards 28 55
Payments related to tax withholding for stock-based compensation (248) (105)
Treasury shares repurchased (34,968) (8,836)
Cash dividends paid to preferred stockholders (1,140) 0
Cash dividends paid to common stockholders, net (9,538) (10,090)
Net cash provided by Financing Activities 57,743 108,306
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (38,475) 25,162
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 155,488 147,256
CASH AND CASH EQUIVALENTS, END OF PERIOD 117,013 172,418
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 8,055 6,435
Cash paid for interest 36,068 46,407
Loans transferred to held for sale 9,583 5,778
Premises held for sale transferred to investment (514) 0
Operating lease assets in exchange for operating lease liabilities 1,524 49,160
Transfer of cash surrender value for BOLI to other assets $ 1,567 $ 0