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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 29,084 $ 96,094 $ 152,556
Adjustments to reconcile net income to net cash provided by operating activities:      
Net loss on sale of securities available-for-sale 42,810 1,447  
(Gain) loss on sale of other assets (7,219) 22 (1,397)
Fair value change in equity securities and loans held for sale 1,204 758  
Gain on sale of loans held for sale (632) (1,707) (2,245)
Net depreciation, amortization and accretion 5,694 6,025 8,314
Amortization of fair value hedge basis point adjustments 1,607 561  
Amortization of other intangible assets 1,163 1,425 1,878
Loss on extinguishment of debt 454   740
Stock-based compensation 6,690 4,638 4,278
Provision for credit losses 36,113 2,770 5,374
Originations of loans held for sale (12,531) (8,219) (20,709)
Proceeds from sale of loans originated for sale 18,786 32,433 46,474
Increase in cash surrender value of BOLI (10,376) (9,103) (8,190)
Gain from death benefits from BOLI   (645) (2,156)
Decrease (increase) in other assets 9,224 10,332 (35,170)
(Decrease) increase in other liabilities (23,015) (45,957) 145,425
Net cash provided by operating activities 99,056 90,874 295,172
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from sales of securities available-for-sale 379,053 77,804  
Purchases of securities available-for-sale (335,167) (86,084) (39,232)
Purchases of securities held-to-maturity (67,560) (28,328) (63,210)
Proceeds from calls and principal repayments of securities available-for-sale 172,767 76,858 165,097
Proceeds from calls and principal repayments of securities held-to-maturity 28,285 22,986 31,736
Purchase of BOLI (15,000) (8,000) (30,000)
Proceeds received from cash surrender value of BOLI   1,224 2,843
Loans purchased (6,594)    
Proceeds from the sale of portfolio loans transferred to held for sale 18,310 5,000 13,201
Increase in loans (152,623) (259,805) (1,359,782)
Purchases of fixed assets, net (6,258) (5,721) (3,745)
Proceeds from the sale of fixed assets and premises held for sale 19,268 25 1,914
Sales (purchases) of restricted stock, net 29,644 (10,005) (51,013)
Net cash provided by (used in) investing activities 64,125 (214,046) (1,332,191)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Increase (decrease) in deposits 1,155,559 276,411 (204,233)
(Repayments) proceeds from FHLBNY advances, short-term, net (615,000) 20,000 1,070,000
(Repayments) proceeds of FHLBNY advances, long-term (150,000) 162,000  
Proceeds (repayments) from FHLBNY advances, long-term 60,000 (1,360) 36,000
Proceeds (repayments) of other short-term borrowings, net 50,000   (502)
Proceeds from subordinated debentures issuance, net 72,084   157,559
Redemption of subordinated debentures     (155,000)
Proceeds from common stock issuance, net 135,764    
Release of stock for benefit plan awards 1,105 1,164 1,167
Payments related to tax withholding for equity awards (1,347) (1,258) (1,558)
Purchase of treasury stock   (947) (46,762)
Cash dividends paid to preferred stockholders (7,286) (7,286) (7,286)
Cash dividends paid to common stockholders (38,036) (37,302) (36,791)
Net cash provided by financing activities 662,843 411,422 812,594
Increase in cash and cash equivalents 826,024 288,250 (224,425)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 457,547 169,297 393,722
CASH AND CASH EQUIVALENTS, END OF PERIOD 1,283,571 457,547 169,297
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid for income taxes 28,828 37,910 43,518
Cash paid for interest 343,249 280,815 54,910
Securities available-for-sale transferred to securities held-to-maturity     372,154
Loans transferred to loans held for sale 37,334 37,346 34,997
Loans transferred to held for investment 2,912   4,051
Premises transferred to held for sale 9,227 905  
Operating lease assets in exchange for operating lease liabilities 5,855 $ 6,333 $ 5,098
Surrender of BOLI assets $ 84,527