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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 18,277 $ 9,567
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 3,750 3,850
Depreciation 1,117 953
Amortization of intangible assets 96 79
Deferred income taxes 497 (418)
Net amortization of securities premiums and discounts 1,133 933
Net realized gain on sales of securities (56) (71)
Earnings and proceeds on life insurance policies (767) (638)
Gain on sales and write-downs of fixed assets and foreclosed real estate owned, net (52) (22)
Net gain on sale of loans (177) (285)
Loans originated for sale (8,616) (7,163)
Proceeds from sale of loans originated for sale 8,793 7,402
Compensation expense related to stock options 160 153
Compensation expense related to restricted stock 251 250
Decrease (increase) in accrued interest receivable 183 (959)
Decrease in accrued interest payable (260) (413)
Other, net (1,327) (4,198)
Net cash provided by operating activities 23,002 9,020
Securities available for sale:    
Proceeds from sales 3,841 24,497
Proceeds from maturities and principal reductions on mortgage-backed securities 52,770 42,806
Purchases (197,750) (37,132)
Purchase of regulatory stock (3,327) (3,350)
Redemption of regulatory stock 3,410 6,781
Net decrease (increase) in loans 40,969 (84,990)
Proceeds from bank-owned life insurance policies 511  
Purchase of premises and equipment (809) (539)
Proceeds from sales of bank premises and fixed assets 158 10
Proceeds from sales of foreclosed real estate owned 157 611
Acquisition, net of cash and cash equivalents acquired   15,193
Net cash used in investing activities (100,070) (36,113)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 186,880 144,280
Net increase in short-term borrowings 14,943 7,038
Repayments of other borrowings (9,323) (20,001)
Proceeds from other borrowings   10,000
Stock options exercised 182 84
Purchase of treasury stock (961) (69)
Cash dividends paid (6,413) (5,214)
Net cash provided by financing activities 185,308 136,118
Increase in cash and cash equivalents 108,240 109,025
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 111,693 15,415
CASH AND CASH EQUIVALENTS, END OF PERIOD 219,933 124,440
Cash payments for:    
Interest on deposits and borrowings 4,660 6,402
Income taxes paid, net of refunds 4,214 1,018
Supplemental Schedule of Noncash Investing Activities:    
Transfers of loans to foreclosed real estate and repossession of other assets 1,638 393
Dividends payable $ 2,131 2,049
Merger with UpState New York Bancorp, Inc.    
Noncash assets acquired: Securities available-for-sale   13,948
Noncash assets acquired: Regulatory stock   2,487
Noncash assets acquired: Loans   413,535
Noncash assets acquired: Premises and equipment, net   5,529
Noncash assets acquired: Accrued interest receivable   1,426
Noncash assets acquired: Deferred tax assets   1,495
Noncash assets acquired: Other assets   376
Total Noncash assets acquired   438,796
Liabilities assumed:    
Time deposits   204,440
Deposits other than time deposits   206,919
Accrued interest payable   175
Other liabilities   6,496
Total Liabilities assumed   418,030
Net Noncash Assets Acquired   20,766
Cash Acquired   $ 24,037