XML 17 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Statement of Cash Flows [Abstract]    
Net income $ 38,471 $ 15,344
Adjustments to reconcile net income to net cash provided by operating activities:    
(Credit) provision for loan losses (6,075) 10,104
ESOP and stock compensation expense 1,407 1,654
Depreciation 1,945 1,612
Amortization of premiums, and deferred loan costs, net of (accretion) discounts, and deferred loan fees 621 1,900
Amortization of intangible assets 101 110
Amortization of operating lease right-of-use assets 2,167 2,166
Income on bank-owned life insurance (1,705) (1,741)
Net gain on sale of loans held-for-sale (1,401) (665)
Gains on available-for-sale debt securities, net (606) (60)
(Gains) losses on trading securities, net (1,171) 366
Net sales of trading securities 719 762
Decrease in accrued interest receivable 169 1,584
Increase in other assets (10,020) (3,325)
Increase (decrease) in accrued expenses and other liabilities 366 (3,691)
Net cash provided by operating activities 24,988 26,120
Cash flows from investing activities:    
Net increase in loans receivable (117,546) (200,613)
Proceeds from sale of loans held-for-sale 151,559 48,165
Purchases of FHLB of New York stock (220) (10,497)
Redemptions of FHLB of New York stock 4,353 20,610
Purchases of debt securities available-for-sale (213,761) (132,052)
Purchases of equity securities 0 (24)
Principal payments and maturities on debt securities available-for-sale 280,050 232,838
Principal payments and maturities on debt securities held-to-maturity 788 106
Proceeds from sale of debt securities available-for-sale 95,472 12,623
Proceeds from sale of equity securities 34 2,035
Proceeds from bank-owned life insurance 1,021 2,716
Purchases and improvements of premises and equipment (1,025) (1,223)
Net cash provided by (used in) investing activities 200,725 (25,316)
Cash flows from financing activities:    
Net increase in deposits 31,718 213,425
Dividends paid (11,839) (10,319)
Exercise of stock options 1,815 175
Purchase of treasury stock (24,833) (107)
Increase in advance payments by borrowers for taxes and insurance 4,526 (163)
Proceeds from securities sold under agreements to repurchase and other borrowings 265 370,267
Repayments related to securities sold under agreements to repurchase and other borrowings (121,725) (611,000)
Net cash used in financing activities (120,073) (37,722)
Net increase (decrease) in cash and cash equivalents 105,640 (36,918)
Cash and cash equivalents at beginning of period 87,544 147,818
Cash and cash equivalents at end of period 193,184 110,900
Cash paid during the period for:    
Interest 9,833 24,845
Income taxes 19,100 7,375
Non-cash transactions:    
Loan charge-offs, net 2,392 291
Transfer of loans held-for-investment to loans-held-for-sale at fair value 131,883 47,500
Transfer of loans held-for-sale at fair value to loans held-for-investment 1,612 0
Transfer of loans held-for-investment to other real estate owned 100 0
Right-of-use assets obtained in exchange for new lease liabilities $ 0 $ 3,028