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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 70,654 $ 36,988 $ 40,235
Adjustments to reconcile net income to net cash provided by operating activities:      
(Benefit)/provision for credit losses (6,184) 12,742 22
ESOP and stock compensation expense 3,643 3,212 5,576
Depreciation 3,889 3,878 3,569
Amortization of premiums, and deferred loan costs, net of (accretion) of discounts, and deferred loan fees 2,587 4,073 4,344
Amortization of intangible assets 200 229 265
Amortization of mortgage servicing rights 4,395 4,586 5,069
Income on bank-owned life insurance (4,103) (3,774) (7,023)
Net gain on sale of loans (1,401) (665) 0
Gains on available-for-sale debt securities, net (1,495) (327) (514)
Gains on trading securities, net (1,703) (1,601) (1,988)
Net sales (purchases) of trading securities 533 532 (266)
Decrease (increase) in accrued interest receivable 118 1,334 (1,650)
(Increase) decrease in other assets (14,531) 1,294 2,679
Deferred taxes 3,159 (3,058) (177)
Increase (decrease) in accrued expenses and other liabilities 4,998 (4,229) 1,011
Net cash used in operating activities 64,759 55,214 51,152
Cash flows from investing activities:      
Net increase in loans receivable (105,455) (276,616) (147,507)
Purchase of loans 0 0 (44,918)
Proceeds from sale of loans 151,559 48,165 0
Purchase of FHLB of New York stock (220) (10,497) (38,546)
Redemption of FHLB of New York stock 6,525 21,735 21,488
Purchases of debt securities available-for-sale (746,967) (572,342) (635,898)
Purchases of equity securities (5,089) (27) (2,061)
Principal payments and maturities on debt securities available-for-sale 454,414 556,920 243,374
Principal payments and maturities on debt securities held-to-maturity 1,879 1,462 709
Proceeds from sale of debt securities available-for-sale 328,966 23,628 79,255
Proceeds from sale of equity securities 0 3,115 0
Proceeds from bank-owned life insurance 1,021 2,716 5,002
Purchases and improvements of premises and equipment (1,638) (3,059) (3,623)
Net cash acquired in business combinations 0 72,875 0
Net cash provided by (used in) investing activities 84,995 (131,925) (522,725)
Cash flows from financing activities:      
Net increase in deposits 92,783 313,726 121,721
Dividends paid (24,299) (21,476) (20,198)
Exercise of stock options 3,409 175 5,770
Purchase of treasury stock (53,321) (10,405) (15,815)
Increase (decrease) in advance payments by borrowers for taxes and insurance 5,232 (368) 2,038
Repayments under capital lease obligations 0 0 (44)
Proceeds from securities sold under agreements to repurchase and other borrowings 0 370,785 1,206,659
Repayments related to securities sold under agreements to repurchase and other borrowings (170,034) (636,000) (758,502)
Net cash (used in) provided by financing activities (146,230) 16,437 541,629
Net increase (decrease) in cash and cash equivalents 3,524 (60,274) 70,056
Cash and cash equivalents at beginning of year 87,544 147,818 77,762
Cash and cash equivalents at end of year 91,068 87,544 147,818
Supplemental cash flow information:      
Interest 17,451 39,584 51,634
Income taxes 28,476 15,169 11,092
Non-cash transactions:      
Loans charged-off (recovered), net 2,803 3,842 (1,189)
Initial recognition of operating lease right-of-use assets 0 0 43,560
Initial recognition of operating lease liabilities 0 0 47,328
Transfers of loans held-for-investment to loans held-for-sale, at fair value 131,883 67,395 0
Transfers of loans held-for-sale at fair value to loans held-for-investment 1,612 0 0
Transfers of loans held-for-investment to loans to other real estate owned 100 0 0
Right-of-use assets obtained in exchange for new operating lease liabilities 1,596 3,568 1,013
Securities available-for-sale 0 126,931 0
Loans 0 180,431 0
Accrued interest receivable 0 1,415 0
Bank-owned life insurance 0 5,714 0
Premises and equipment 0 7,789 0
Goodwill and other intangible assets 0 2,909 0
Other assets 0 4,702 0
Total non-cash assets acquired 0 329,891 0
Deposits 0 354,592 0
Other liabilities 0 7,001 0
Total non-cash liabilities assumed 0 361,593 0
Net non-cash liabilities assumed 0 (31,702) 0
Net cash and cash equivalents acquired 0 72,875 0
Common stock issued in acquisition $ 0 $ 41,173 $ 0