XML 36 R8.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 69,644 $ 72,657
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization on loans 9,018 8,905
Net amortization on securities and borrowings 7,067 6,947
Net provision for loan and real estate losses credited to operations (6,703) (6,137)
Depreciation and amortization 9,495 8,889
Net gain on sales of loans and securities (1,567) (528)
Mortgage servicing rights amortization and valuation allowance adjustments, net 1,941 1,681
Stock-based compensation 6,432 6,488
Originations of loans held-for-sale (90,841) (73,653)
Proceeds from sales and principal repayments of loans held-for-sale 94,495 73,289
(Increase) decrease in accrued interest receivable (141) 290
Bank owned life insurance income and insurance proceeds received, net (6,598) (5,195)
(Increase) decrease in other assets (1,926) 7,162
Increase in accrued expenses and other liabilities 2,611 32,159
Net cash provided by operating activities 92,927 132,954
Cash flows from investing activities:    
Originations of loans receivable (1,028,137) (1,062,910)
Loan purchases through third parties (187,821) (141,033)
Principal payments on loans receivable 1,897,447 1,482,443
Proceeds from sales of delinquent and non-performing loans 7,483 178,470
Purchases of securities held-to-maturity (425,463) (459,943)
Purchases of securities available-for-sale (113,833)  
Principal payments on securities held-to-maturity 355,657 250,468
Principal payments on securities available-for-sale 34,736 31,031
Proceeds from sales of securities available-for-sale 19,026 14,447
Net redemptions of Federal Home Loan Bank of New York stock 12,067 18,809
Proceeds from sales of real estate owned, net 20,114 40,718
Purchases of premises and equipment, net of proceeds from sales (9,098) (6,945)
Net cash provided by investing activities 582,178 345,555
Cash flows from financing activities:    
Net decrease in deposits (456,448) (242,549)
Net decrease in borrowings with original terms of three months or less (182,000) (76,000)
Repayments of borrowings with original terms greater than three months   (150,000)
Net increase in mortgage escrow funds 29,165 28,885
Proceeds from sales of treasury stock 6,124 6,092
Cash dividends paid to stockholders (18,634) (18,511)
Net tax benefit excess from stock-based compensation 28 51
Net cash used in financing activities (621,765) (452,032)
Net increase in cash and cash equivalents 53,340 26,477
Cash and cash equivalents at beginning of period 143,185 121,950
Cash and cash equivalents at end of period 196,525 148,427
Supplemental disclosures:    
Interest paid 97,982 110,171
Income taxes paid 27,217 10,665
Additions to real estate owned 4,583 41,556
Loans transferred to held-for-sale $ 8,948 $ 187,769