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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 9,589 $ 7,073
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 653 748
Provision for loan losses 2,750 2,033
Net losses on disposal of fixed assets 15 0
Depreciation and amortization of fixed assets 2,820 3,285
Amortization of premiums on securities, net 1,098 1,365
Gains on sales of loans held for sale, net (193) (273)
Proceeds from sales of loans held for sale 9,655 12,854
Loans originated and held for sale (10,296) (11,624)
Net gains on trading assets (96) (53)
Proceeds from sales of trading assets 20 99
Net gains on securities transactions (12) (983)
Net (gains) losses on sales of other real estate owned (38) 6
Purchase of trading assets (59) (65)
Expense related to restricted stock units for directors' deferred compensation plan 72 72
Expense related to employee stock compensation 200 210
Expense related to employee restricted stock awards 162 145
Income from bank-owned life insurance (52) (55)
Decrease in other assets and accrued interest receivable 888 2,250
Decrease in accrued interest payable (26) (8)
Increase (decrease) in other liabilities (565) 2,702
Net cash provided by operating activities 16,585 19,781
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales and calls of securities available for sale 1,620 36,130
Proceeds from maturities and principal collected on securities available for sale 35,262 56,661
Proceeds from maturities and principal collected on securities held to maturity 2,807 2,797
Purchases of securities available for sale (41,306) (47,696)
Purchases of securities held to maturity (1,967) (2,735)
Purchase of FHLBNY and FRBNY stock (1,708) (5,458)
Redemption of FHLBNY and FRBNY stock 2,252 5,764
Proceeds from sale of equipment 16 0
Purchases of premises and equipment (1,294) (937)
Proceeds from sales of other real estate owned 383 1,499
Net increase in loans (90,019) (49,243)
Net cash (used in) provided by investing activities (93,954) (3,218)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in demand deposits, interest-bearing demand accounts, savings accounts, and insured money market accounts 98,599 126,309
Net decrease in time deposits (17,924) (17,660)
Net increase (decrease) in securities sold under agreements to repurchase (17,606) 1,549
Net change in FHLBNY overnight advances, net 0 (13,900)
Repayments of FHLBNY long term advances (84) (82)
Payments made on capital leases (154) (136)
Sale of treasury stock 441 332
Cash dividends paid (3,687) (3,656)
Net cash provided by financing activities 59,585 92,756
Net increase (decrease) in cash and cash equivalents (17,784) 109,319
Cash and cash equivalents, beginning of period 74,162 26,185
Cash and cash equivalents, end of period 56,378 135,504
Cash paid for:    
Interest 2,314 2,874
Income taxes 4,050 2,680
Supplemental disclosure of non-cash activity:    
Transfer of loans to other real estate owned 187 342
Dividends declared, not yet paid 1,232 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