XML 17 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Statement of Cash Flows [Abstract]    
Net income $ 8,771 $ 10,445
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 59 34
ESOP and stock compensation expense 1,764 1,876
Depreciation 771 768
Amortization of premiums, and deferred loan costs, net of (accretion) of discounts, and deferred loan fees 861 616
Amortization of intangible assets 69 84
Amortization of operating lease right-of-use assets 1,057  
Accretion of operating lease liabilities 409  
Income on bank owned life insurance (896) (954)
Gains on securities transactions, net (1,241) (161)
Net sales (purchases) of trading securities 295 (119)
Increase in accrued interest receivable (246) (412)
Decrease in other assets 3,118 3,410
Decrease in accrued expenses and other liabilities (5,162) (1,985)
Net cash provided by operating activities 9,629 13,602
Cash flows from investing activities:    
Net (increase) decrease in loans receivable (11,156) 31,471
Purchase of loans 0 (37,593)
Purchases of Federal Home Loan Bank of New York stock (1,125) (5,850)
Redemptions of Federal Home Loan Bank of New York stock 1,125 6,463
Purchases of debt securities available-for-sale (150,074) (111,726)
Purchases of equity securities (177) 0
Principal payments and maturities on debt securities available-for-sale 42,972 26,801
Principal payments and maturities on debt securities held-to-maturity 53 54
Proceeds from sale of debt securities available-for-sale 29,163 19,508
Purchases and improvements of premises and equipment (377) (307)
Net cash used in investing activities (89,596) (71,179)
Cash flows from financing activities:    
Net increase in deposits 88,693 68,097
Dividends paid (4,727) (4,641)
Exercise of stock options 995 725
Increase in advance payments by borrowers for taxes and insurance 2,716 3,408
Repayments under capital lease obligations (44) (60)
Proceeds from securities sold under agreements to repurchase and other borrowings 25,397 275,418
Repayments related to securities sold under agreements to repurchase and other borrowings (25,000) (290,635)
Net cash provided by financing activities 88,030 52,312
Net increase (decrease) in cash and cash equivalents 8,063 (5,265)
Cash and cash equivalents at beginning of period 77,762 57,839
Cash and cash equivalents at end of period 85,825 52,574
Cash paid during the period for:    
Interest 11,683 6,895
Income taxes 401 667
Non-cash transactions:    
Loans charge-offs, net 70 22
Securities purchased, not yet settled 0 $ 19,608
Initial recognition of operating lease right-of use assets 43,560  
Initial recognition of operating lease liabilities $ 47,328