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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net income $ 66,696 $ 63,710
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (benefit) for credit losses 5,093 (5,705)
Depreciation and amortization of premises and equipment 4,395 4,904
Net gain on sales of loans (73) (289)
Net amortization of premiums and (accretion) of discounts 309 (1,062)
Net gain from disposition of assets 0 (621)
Net gain from sale of securities 0 (113)
Deferred income tax provision (benefit) 3,914 (762)
Gain from bank owned life insurance proceeds (1,536) 0
Net loss (gain) from fair value adjustments of qualifying hedges 161 (957)
Net (gain) loss from fair value adjustments (6,350) 7,855
Income from bank owned life insurance (3,361) (3,021)
Stock-based compensation expense 6,230 5,516
Deferred compensation (4,870) (2,571)
Amortization of core deposit intangibles 415 464
Decrease in other assets 6,998 821
Decrease in other liabilities (13,294) (8,524)
Net cash provided by operating activities 64,727 59,645
Investing Activities    
Purchases of premises and equipment (3,433) (2,839)
Net (purchases) redemptions of Federal Home Loan Bank-NY shares (26,552) 7,281
Purchases of securities held-to-maturity (16,475) 0
Proceeds from prepayments of securities held-to-maturity 190 0
Proceeds from bank owned life insurance 3,307 0
Purchases of securities available for sale (222,810) (508,402)
Proceeds from sales and calls of securities available for sale 0 58,613
Change in cash collateral 44,015 0
Proceeds from maturities and prepayments of securities available for sale 80,503 294,004
Net (originations) and repayments of loans (173,311) 232,391
Purchases of loans (207,546) (192,705)
Proceeds from sale of loans 29,247 24,967
Net cash used in investing activities (492,865) (86,690)
Financing Activities    
Net increase in non-interest bearing deposits 24,757 162,587
Net (decrease) increase in interest-bearing deposits (253,478) 168,174
Net increase in mortgagors' escrow deposits 18,631 21,585
Net proceeds (repayments) from short-term borrowed funds 750,000 (25,000)
Proceeds from long-term borrowing 63,710 0
Repayment of long-term borrowings (50,000) (251,393)
Purchases of treasury stock (22,117) (7,778)
Cash dividends paid (20,395) (19,920)
Net cash provided by financing activities 511,108 48,255
Net increase in cash and cash equivalents 82,970 21,210
Cash and cash equivalents, beginning of period 81,723 157,388
Cash and cash equivalents, end of period 164,693 178,598
Supplemental Cash Flow Disclosure    
Interest paid 32,459 30,727
Income taxes paid 24,559 21,419
Taxes paid if excess tax benefits on stock-based compensation were not tax deductible $ 25,142 $ 21,083