XML 20 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 7,073 $ 7,304
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 748 866
Provision for loan losses 2,033 956
Gains on disposal of fixed assets 0 (13)
Depreciation and amortization of fixed assets 3,285 3,047
Amortization of premiums on securities, net 1,365 1,442
Gains on sales of loans held for sale, net (273) (239)
Proceeds from sales of loans held for sale 12,854 11,225
Loans originated and held for sale (11,624) (10,637)
Net (gains) losses on trading assets (53) 25
Proceeds from sales of trading assets 99 0
Net gains on securities transactions (983) (291)
Net (gains) losses on sales of other real estate owned 6 (120)
Purchase of trading assets (65) (112)
Expense related to restricted stock units for directors' deferred compensation plan 72 72
Expense related to employee stock compensation 210 93
Expense related to employee restricted stock awards 145 156
Income from bank-owned life insurance (55) (56)
Decrease in other assets and accrued interest receivable 2,250 7,581
Decrease in accrued interest payable (8) (30)
Increase (decrease) in other liabilities 2,702 (11,212)
Net cash provided by operating activities 19,781 10,057
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales and calls of securities available for sale 36,130 58,035
Proceeds from maturities and principal collected on securities available for sale 56,661 29,537
Proceeds from maturities and principal collected on securities held to maturity 2,797 3,022
Purchases of securities available for sale (47,696) (129,923)
Purchases of securities held to maturity (2,735) (1,795)
Purchase of FHLBNY and FRBNY stock (5,458) (6,158)
Redemption of FHLBNY and FRBNY stock 5,764 7,522
Proceeds from sale of equipment 0 13
Purchases of premises and equipment (937) (783)
Proceeds from sales of other real estate owned 1,499 699
Net increase in loans (49,243) (20,993)
Net cash used by investing activities (3,218) (60,824)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in demand deposits, interest-bearing demand accounts, savings accounts, and insured money market accounts 126,309 169,065
Net decrease in time deposits (17,660) (38,638)
Net increase in securities sold under agreements to repurchase 1,549 706
Repayments of FHLBNY overnight advances, net (13,900) (30,830)
Repayments of FHLBNY long term advances (82) (80)
Payments made on capital lease (136) (66)
Sale of treasury stock 332 319
Cash dividends paid (3,656) (3,623)
Net cash provided by financing activities 92,756 96,853
Net increase in cash and cash equivalents 109,319 46,086
Cash and cash equivalents, beginning of period 26,185 29,163
Cash and cash equivalents, end of period 135,504 75,249
Cash paid for:    
Interest 2,874 2,698
Income taxes 2,680 5,662
Supplemental disclosure of non-cash activity:    
Transfer of loans to other real estate owned 342 10
Dividends declared, not yet paid 1,222 1,211
Distribution of treasury stock for directors' compensation 262 271
Distribution of treasury stock for deferred directors' compensation 3 3
Assets acquired through long term capital lease obligations $ 2,035 $ 0