XML 18 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net Income $ 23,489 $ 13,559
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 2,156 2,216
Amortization and accretion, net (406) (1,864)
Provision for loan losses 4,840 7,526
Deferred income tax benefit (938) (1,942)
Loans originated for sale (21,927) (13,112)
Proceeds from sales of loans 25,119 12,811
Gain on sales of loans originated for sale (575) (292)
Gain on sales of investment securities   (306)
Gain on sale of premises (371) (4,378)
Realized and unrealized losses (gains) on equity investments 4 (820)
Gain on sales of other real estate owned (11)  
Loss on sale of impaired loans held in portfolio 64  
Stock-based compensation expense 337 944
BOLI income (2,195) (385)
Decrease (increase) in interest receivable 2,536 (9,428)
Decrease (increase) in other assets 1,313 (1,739)
Decrease in accrued interest payable (803) (1,223)
Increase in other liabilities 454 4,987
Net Cash Provided by Operating Activities 33,086 6,554
Cash Flows from Investing Activities:    
Proceeds from repayments, calls, and maturities on securities available for sale 29,245 24,663
Purchases of securities (18,345) (70,561)
Proceeds from sale of impaired loans 3,442  
Proceeds from sales of securities   10,419
Purchase of loans   (48,360)
Net increase in loans receivable (1,671) (170,233)
Purchases of BOLI (8,500) (60,000)
Proceeds from sales of other real estate owned 425  
Additions to premises and equipment (254) (1,305)
Proceeds from the sale of fixed assets and premises 742 7,419
Redemption of Federal Home Loan Bank of New York stock 3,131 661
Net Cash Provided by (Used In) Investing Activities 8,215 (307,297)
Cash Flows from Financing Activities:    
Net increase (decrease) in deposits 223,355 (88,725)
Proceeds from Federal Home Loan Bank of New York advances 10,000 48,800
Repayments of Federal Home Loan Bank of New York advances (83,000) (35,000)
Purchases of treasury stock (2,511) (4,870)
Cash dividends paid on common stock (7,241) (6,915)
Cash dividends paid on preferred stock (852) (1,014)
Net proceeds from issuance of common stock 376 195
Net proceeds from issuance of preferred stock   8,950
Net payment on redemption of preferred stock   (10,485)
Exercise of stock options 281 5
Net Cash Provided by (Used In) Financing Activities 140,408 (89,059)
Net Increase (Decrease) in Cash and Cash Equivalents 181,709 (389,802)
Cash and Cash Equivalents - Beginning 261,229 550,353
Cash and Cash Equivalents - Ending 442,938 160,551
Supplementary Cash Flow Information:    
Cash paid during the year for: Income taxes 10,150 10,554
Cash paid during the year for: Interest $ 12,787 $ 28,656