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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 5,935 $ 4,328
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 439 503
Provision for loan losses 1,461 983
Losses on disposal of fixed assets 31 0
Depreciation and amortization of fixed assets 1,946 2,374
Amortization of premiums on securities, net 736 911
Gains on sales of loans held for sale, net (122) (158)
Proceeds from sales of loans held for sale 6,204 7,265
Loans originated and held for sale (6,056) (6,840)
Net gains on trading assets (64) (19)
Net gains on securities transactions (12) (908)
Net (gains) losses on sales of other real estate owned (8) 16
Purchase of trading assets (39) (47)
Expense related to restricted stock units for directors' deferred compensation plan 49 48
Expense related to employee stock compensation 200 210
Expense related to employee restricted stock awards 107 96
Income from bank-owned life insurance (35) (36)
(Increase)/decrease in other assets and accrued interest receivable (132) 1,923
(Increase)/decrease in accrued interest payable (47) 4
Increase/(decrease) in other liabilities (1,594) 793
Net cash provided by operating activities 8,999 11,446
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales and calls of securities available for sale 1,075 15,422
Proceeds from maturities and principal collected on securities available for sale 24,624 34,302
Proceeds from maturities and principal collected on securities held to maturity 1,544 1,873
Purchases of securities available for sale (41,306) (460)
Purchases of securities held to maturity (1,767) (825)
Purchase of FHLBNY and FRBNY stock (173) (5,458)
Redemption of FHLBNY and FRBNY stock 450 5,764
Purchases of premises and equipment (890) (648)
Proceeds from sales of other real estate owned 176 1,463
Net increase in loans (53,083) (33,440)
Net cash (used in) provided by investing activities (69,350) 17,993
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in demand deposits, interest-bearing demand accounts, savings accounts, and insured money market accounts 79,997 75,049
Net decrease in time deposits (11,303) (7,424)
Net increase (decrease) in securities sold under agreements to repurchase (15,669) 325
Net change in FHLBNY overnight advances, net 0 (13,900)
Repayments of FHLBNY long term advances (55) (55)
Payments made on capital lease (102) (86)
Sale of treasury stock 322 254
Cash dividends paid (2,455) (2,433)
Net cash provided by financing activities 50,735 51,730
Net increase (decrease) in cash and cash equivalents (9,616) 81,169
Cash and cash equivalents, beginning of period 74,162 26,185
Cash and cash equivalents, end of period 64,546 107,354
Cash paid for:    
Interest 1,601 1,877
Income taxes 4,050 1,830
Supplemental disclosure of non-cash activity:    
Transfer of loans to other real estate owned 116 342
Dividends declared, not yet paid 1,231 1,222
Distribution of treasury stock for directors' compensation 269 262
Distribution of treasury stock for deferred directors' compensation 11 3
Assets acquired through long term capital lease obligations $ 0 $ 2,035