XML 18 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 14,407 $ 18,565
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization on loans 2,136 2,310
Net amortization on securities and borrowings 1,601 1,822
Net provision for loan and real estate losses credited to operations (2,084) (2,918)
Depreciation and amortization 3,422 3,694
Net gain on sales of loans and securities (610) (518)
Mortgage servicing rights amortization and valuation allowance adjustments, net 238 1,404
Stock-based compensation 1,725 1,581
Deferred income tax (benefit) expense (1,695) 75
Originations of loans held-for-sale (30,585) (27,258)
Proceeds from sales and principal repayments of loans held-for-sale 36,198 28,288
Decrease (increase) in accrued interest receivable 516 (1,143)
Bank owned life insurance income and insurance proceeds received, net (2,152) (2,289)
Decrease in other assets 3,935 2,572
Increase in accrued expenses and other liabilities 3,916 1,219
Net cash provided by operating activities 30,968 27,404
Cash flows from investing activities:    
Originations of loans receivable (203,866) (309,871)
Loan purchases through third parties (59,167) (29,048)
Principal payments on loans receivable 471,853 482,897
Proceeds from sales of delinquent and non-performing loans 300 400
Purchases of securities held-to-maturity (192,645) (354,392)
Principal payments on securities held-to-maturity 162,092 206,196
Principal payments on securities available-for-sale 13,279 11,447
Proceeds from sales of securities available-for-sale 0 23,065
Purchases of Federal Home Loan Bank of New York stock (5,286) (25,548)
Redemptions of Federal Home Loan Bank of New York stock 22,927 25,103
Proceeds from sales of real estate owned, net 4,993 7,863
Purchases of premises and equipment, net of proceeds from sales (600) (2,108)
Net cash provided by investing activities 213,880 36,004
Cash flows from financing activities:    
Net increase (decrease) in deposits 113,192 (54,488)
Net increase (decrease) in borrowings with original terms of three months or less 110,000 (270,000)
Proceeds from borrowings with terms greater than three months 300,000 550,000
Repayments of borrowings with original terms greater than three months (800,000) (345,000)
Net increase in mortgage escrow funds 47,497 47,796
Proceeds from sales of treasury stock 34 41
Cash dividends paid to stockholders (6,243) (6,247)
Net tax benefit excess from stock-based compensation 0 3
Net cash used in financing activities (235,520) (77,895)
Net increase (decrease) in cash and cash equivalents 9,328 (14,487)
Cash and cash equivalents at beginning of period 129,944 200,538
Cash and cash equivalents at end of period 139,272 186,051
Supplemental disclosures:    
Interest paid 27,024 27,977
Income taxes paid 269 4,613
Additions to real estate owned 3,755 965
Loans transferred to held-for-sale $ 300 $ 0