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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 14,834 $ 23,567 $ 21,981
Adjustments to reconcile net income to net cash provided by operating activities:      
Benefit for loan losses (516) (1,250) (2,211)
Depreciation and amortization of bank premises and equipment 867 1,535 1,432
Amortization of premium, net of accretion of discount   4,447 3,582
Net (gain) loss from fair value adjustments (768) (173) 1,046
Net gain from sale of loans (47) (49)  
Net gain from sale of securities (64) (64)  
Net gain from sale of buildings (6,537) (6,537)  
Income from bank owned life insurance (715) (1,432) (1,531)
Stock-based compensation expense   3,643 3,135
Deferred compensation   (2,004) (1,486)
Excess tax benefit from stock-based payment arrangements   (380) (748)
Deferred income tax (benefit) provision   (3,855) 2,745
Increase in other liabilities   706 1,948
Decrease in other assets   5,374 1,489
Net cash provided by operating activities   23,528 31,382
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of bank premises and equipment   (7,841) (855)
Net purchases of Federal Home Loan Bank of New York shares   (3,002) (5,382)
Purchases of securities held-to-maturity   (3,100)  
Proceeds from maturities of securities held-to-maturity   390  
Purchases of securities available for sale   (138,095) (70,871)
Proceeds from sales and calls of securities available for sale   25,039 1,871
Proceeds from maturities and prepayments of securities available for sale   61,868 47,535
Proceeds from sale of buildings   20,209  
Net originations of loans   (82,544) (90,946)
Purchases of loans   (126,070) (12,884)
Proceeds from sale of real estate owned   2,070 2,034
Proceeds from sale of delinquent loans   5,028 7,332
Net cash used in investing activities   (246,048) (122,166)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase in non-interest bearing deposits   1,741 15,920
Net increase (decrease) in interest-bearing deposits   179,213 (18,405)
Net increase in mortgagors' escrow deposits   8,251 8,189
Net proceeds from short-term borrowed funds   35,000 109,000
Proceeds from long-term borrowings   72,996  
Repayment of long-term borrowings   (50,000) (9,300)
Purchases of treasury stock   (13,490) (3,285)
Excess tax benefit from stock-based payment arrangements   380 748
Proceeds from issuance of common stock upon exercise of stock options 142 142 429
Cash dividends paid   (9,379) (9,015)
Net cash provided by financing activities   224,854 94,281
Net increase in cash and cash equivalents   2,334 3,497
Cash and cash equivalents, beginning of period   34,265 33,485
Cash and cash equivalents, end of period $ 36,599 36,599 36,982
SUPPLEMENTAL CASH FLOW DISCLOSURE      
Interest paid   23,585 25,172
Income taxes paid   16,221 12,236
Taxes paid if excess tax benefits were not tax deductible   16,601 12,984
Non-cash activities:      
Securities purchased not yet settled   22,037  
Securities transferred from available for sale to held-to-maturity   4,510  
Loans transferred to Other Real Estate Owned   772 655
Loans provided for the sale of Other Real Estate Owned   175 $ 308
Loans held for investment transferred to loans held for sale   $ 300