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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 49,497 $ 79,786
Adjustments to reconcile net income to net cash provided by operating activities:    
Net loss on sale of securities available-for-sale   1,447
(Gain) loss on sale of other assets (6,665) 22
Fair value change in equity securities and loans held for sale 1,219 1,079
Net gain on sale of loans held for sale (527) (1,164)
Net depreciation, amortization and accretion 4,445 4,560
Amortization of fair value hedge basis point adjustments 1,862  
Amortization of other intangible assets 878 1,075
Loss on extinguishment of debt 454  
Stock-based compensation 4,982 3,198
Provision (recovery) for credit losses 22,398 (950)
Originations of loans held for sale (7,451) (6,440)
Proceeds from sale of loans originated for sale 13,346 22,171
Increase in cash surrender value of BOLI (7,551) (6,687)
Gain from death benefits from BOLI   (645)
Decrease in other assets 6,234 3,679
Increase (decrease) in other liabilities (73,080) 29,785
Net cash provided by operating activities 10,041 130,916
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of securities available-for-sale   77,804
Purchases of securities available-for-sale (4,000) (80,625)
Purchases of securities held-to-maturity (16,973) (28,328)
Proceeds from calls and principal repayments of securities available-for-sale 146,026 60,167
Proceeds from calls and principal repayments of securities held-to-maturity 21,808 16,433
Purchase of BOLI (15,000) (8,000)
Proceeds received from cash surrender value of BOLI   1,224
Loans purchased (4,979)  
Proceeds from the sale of portfolio loans transferred to held for sale 7,405 4,192
Increase in loans (141,747) (316,784)
Purchases of fixed assets, net (4,207) (4,230)
Proceeds from the sale of fixed assets and premises held for sale 16,318 25
Sales (purchases) of restricted stock, net 34,515 (1,340)
Net cash (provided by) used in investing activities 39,166 (279,462)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in deposits 886,730 382,274
Repayments from FHLBNY advances, short-term, net (715,000) (170,000)
Repayments of FHLBNY advances, long-term (150,000)  
Proceeds from FHLBNY advances, long-term 60,000 162,000
Repayments of other short-term borrowings, net   (1,360)
Proceeds from subordinated debentures issuance, net 72,103  
Release of stock for benefit plan awards 763 823
Payments related to tax withholding for equity awards (1,333) (1,252)
Purchase of treasury stock   (947)
Cash dividends paid to preferred stockholders (5,465) (5,465)
Cash dividends paid to common stockholders (28,496) (28,000)
Net cash provided by financing activities 119,302 338,073
Increase in cash and cash equivalents 168,509 189,527
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 457,547 169,297
CASH AND CASH EQUIVALENTS, END OF PERIOD 626,056 358,824
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 28,003 31,270
Cash paid for interest 264,924 193,529
Loans transferred to held for sale 11,517 22,500
Loans transferred to held for investment (2,912)  
Premises transferred to held for sale   905
Operating lease assets in exchange for operating lease liabilities $ 5,005 $ 6,333