| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from Operating Activities: | |||||||||
Net Income | |||||||||
21,034 | 16,763 | 9,982 | 8,003 | 7,030 | 7,590 | 9,416 | -2,062 | 6,051 | 14,326 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Depreciation of premises and equipment | |||||||||
2,886 | 2,766 | 2,522 | 2,422 | 2,149 | 1,512 | 1,366 | 1,143 | 1,055 | 642 |
Amortization and accretion, net | |||||||||
3,038 | 2,941 | 1,458 | 1,805 | 451 | 819 | -627 | -1,453 | -1,306 | 1,877 |
Provision for loan losses | |||||||||
2,069 | 5,130 | 2,110 | 27 | 2,280 | 2,800 | 2,750 | 4,900 | 4,100 | 2,450 |
Deferred income tax benefit | |||||||||
1,280 | -2,075 | 3,932 | 1,487 | 2 | 1,251 | -832 | -149 | -1,845 | -341 |
Loans originated for sale | |||||||||
21,950 | 22,615 | 25,751 | 39,081 | 17,764 | 25,450 | 22,233 | 30,137 | 31,950 | 26,142 |
Proceeds from sale of loans | |||||||||
23,222 | 45,276 | 30,966 | 40,237 | 23,749 | 25,507 | 20,116 | 32,724 | 30,884 | 19,433 |
Gain on sales of loans and other real estate owned | |||||||||
- | - | - | - | - | 2,179 | 1,635 | - | - | - |
Gain on sales of loans originated for sale | |||||||||
1,036 | 2,333 | 2,357 | 3,326 | 4,873 | - | - | 1,220 | 887 | 295 |
Fair value adjustment of other real estate owned | |||||||||
- | - | - | - | - | - | -110 | - | - | - |
Gain on sales of other real estate owned | |||||||||
177 | 30 | - | - | - | - | - | -681 | -498 | -345 |
Fair value adjustment of other real estate owned | |||||||||
- | -101 | -85 | -278 | -396 | - | - | - | - | - |
Gains on sales of securities | |||||||||
262 | - | - | - | - | - | - | - | - | - |
Unrealized (gain) loss on equity investments | |||||||||
201 | -622 | - | - | - | - | - | - | - | - |
Gain on sales of securities available for sale | |||||||||
- | - | 97 | - | - | - | - | - | - | - |
Gain from sales of other real estate owned | |||||||||
- | - | 1,585 | - | - | - | - | - | - | - |
Gain on sales of SBA loans acquired | |||||||||
- | - | - | - | - | - | - | 286 | - | - |
Gain on bulk sale of impaired loans held in portfolio | |||||||||
107 | -24 | - | -373 | - | - | - | -10,804 | - | - |
Loss on donated other real estate owned property | |||||||||
- | - | - | - | - | - | - | 128 | - | - |
Loss on sale of property held for investment | |||||||||
- | - | - | - | - | - | - | - | -124 | - |
Loss on leasehold improvements on branch closing | |||||||||
- | - | - | - | - | - | - | - | 592 | - |
Write down on real estate owned | |||||||||
- | - | - | - | - | - | - | 965 | 510 | - |
Gain on sale of securities available for sale | |||||||||
- | - | - | - | - | - | - | - | 1,162 | -12,582 |
Gain on sales of securites held to maturity | |||||||||
- | - | - | - | - | 2,288 | 378 | 349 | 18 | - |
Gain on sales of securities available for sale | |||||||||
- | - | - | - | - | 1,223 | - | - | - | - |
Loss on bulk sale of impaired loans held in portfolio | |||||||||
- | - | - | - | - | -4,012 | -474 | - | - | - |
Stock-based compensation expense | |||||||||
987 | 251 | 199 | 125 | 66 | 55 | 61 | - | - | - |
Stock compensation expense | |||||||||
- | - | - | - | - | - | - | 24 | 12 | - |
Increase in interest receivable | |||||||||
-60 | 1,765 | 580 | -22 | 1,141 | 297 | 94 | -934 | -649 | -501 |
Increase in other assets | |||||||||
-183 | -1,275 | -1,121 | 1,043 | 2,257 | 5,296 | -5,999 | 5,167 | -5,227 | 1,207 |
Decrease in accrued interest payable | |||||||||
147 | 1,770 | -34 | -228 | 239 | 47 | -21 | -24 | 26 | -239 |
Increase in other liabilities | |||||||||
-830 | -2,191 | 1,979 | -250 | -1,736 | -726 | 532 | -1,922 | -937 | -1,159 |
Net Cash Provided by Operating Activities | |||||||||
- | - | 21,034 | 7,241 | 7,689 | 4,496 | 16,038 | - | - | - |
Net Cash Provided by Operating Activities | |||||||||
24,267 | 40,028 | - | - | - | - | - | 12,440 | 14,235 | -2,391 |
Cash flows from Investing Activities: | |||||||||
Purchase of interest-earning time deposits | |||||||||
- | - | - | - | - | 0 | 0 | 0 | 986 | - |
Proceeds from sales of securities held to maturity | |||||||||
- | - | - | - | - | 99,198 | 9,493 | 30,584 | 2,438 | - |
Proceeds from calls on securities available for sale | |||||||||
- | - | - | - | - | 1,320 | - | - | - | - |
Proceeds from repayments, calls, and maturities on securities held to maturity | |||||||||
- | - | - | - | - | 10,272 | 44,957 | 67,489 | 85,089 | - |
Proceeds from repayments and calls on securities held to maturity | |||||||||
- | - | - | - | - | - | - | - | - | 156,757 |
Proceeds from repayments, calls, and maturities on securities available for sale | |||||||||
22,522 | 23,285 | 28,083 | 6,158 | 1,160 | 93 | 1,000 | - | - | - |
Purchases of securities held to maturity | |||||||||
- | - | - | - | - | 3,034 | 5,059 | 57,331 | 95,537 | 104,997 |
Purchases of securities available for sale | |||||||||
1,153 | 16,370 | 75,074 | 95,722 | 1,174 | - | - | - | - | - |
Sale of interest-earning time deposits | |||||||||
- | 245 | - | - | - | - | - | - | - | - |
Proceeds from sales of securities | |||||||||
14,996 | - | - | - | - | - | - | - | - | - |
Sale of interest-earning time deposits | |||||||||
- | - | - | -258 | 245 | - | - | - | - | - |
Proceeds from sales of securities available for sale | |||||||||
- | - | 21,165 | - | - | - | - | - | - | - |
Proceeds from sale of SBA loans acquired | |||||||||
- | - | - | - | - | - | - | 10,836 | - | - |
Proceeds from sales of other real estate owned | |||||||||
2,417 | 1,156 | 5,767 | 1,146 | 1,525 | 907 | 3,658 | 4,223 | 2,722 | - |
Proceeds from bulk sale of impaired loans held | |||||||||
402 | 250 | - | 1,817 | - | 10,355 | - | - | - | - |
Net decrease (increase) in loans receivable | |||||||||
-98,849 | 476,219 | - | - | - | - | - | - | - | - |
Net increase in loans receivable | |||||||||
- | - | 160,051 | 68,766 | 213,811 | - | - | - | - | - |
Proceeds from bulk sale of impaired loans held in portfolio | |||||||||
- | - | - | - | - | - | - | 15,093 | - | - |
Proceeds from sales of property held for investment | |||||||||
- | - | - | - | - | - | - | - | 511 | 1,260 |
Proceeds from sales of participation interest in loans | |||||||||
- | - | - | - | - | - | 24,224 | - | 4,777 | 1,708 |
Participation loans held in portfolio | |||||||||
- | - | - | - | - | - | 24,224 | - | - | - |
Purchases of loans | |||||||||
- | - | - | - | - | 8,068 | 22,620 | 31,064 | 2,292 | - |
Net increase in loans receivable | |||||||||
- | - | - | - | - | 197,421 | 76,634 | 91,105 | -10,325 | -39,551 |
Improvements to other real estate owned | |||||||||
- | - | - | - | - | - | 35 | - | - | - |
Improvements to other real estate owned | |||||||||
- | - | - | - | - | - | - | -59 | -113 | -32 |
Additions to premises and equipment | |||||||||
2,513 | 1,567 | 1,908 | 6,077 | 3,581 | 1,748 | 1,651 | 1,135 | 2,246 | 704 |
Purchase of Federal Home Loan Bank of New York stock | |||||||||
416 | 2,031 | - | - | - | - | - | - | - | - |
(Purchase) sale of Federal Home Loan Bank of New York stock | |||||||||
- | - | 905 | -1,405 | 1,881 | 990 | 142 | 200 | -44 | -1,869 |
Cash acquired in acquisition | |||||||||
- | 7,597 | - | - | - | - | - | - | 5,901 | 22,979 |
Cash paid in acquisition | |||||||||
- | 2,550 | - | - | - | - | - | - | - | - |
Net Cash Used in Investing Activities | |||||||||
- | - | -182,923 | -159,781 | -218,007 | -89,116 | -47,033 | - | - | - |
Net Cash Provided (Used In) Investing Activities | |||||||||
135,104 | -466,204 | - | - | - | - | - | -52,669 | 10,633 | 118,391 |
Cash flows from Financing Activities: | |||||||||
Net increase in deposits | |||||||||
181,339 | 432,918 | 177,165 | 118,276 | 245,373 | 59,886 | 27,884 | -36,837 | -20,030 | -13,260 |
Proceeds from Federal Home Loan Bank of New York Advances | |||||||||
50,000 | 175,800 | 85,000 | 10,000 | - | - | - | - | - | - |
Repayments of Federal Home Loan Bank of New York Advances | |||||||||
50,000 | 135,000 | 55,000 | 55,000 | - | - | - | - | - | - |
Proceeds from long-term debt | |||||||||
- | - | - | - | 67,000 | 23,000 | - | - | - | - |
Repayments of long-term debt | |||||||||
- | - | - | - | - | - | - | 15,407 | - | 43,815 |
Net change in short term debt | |||||||||
- | - | -20,000 | 20,000 | -26,000 | 8,000 | 1,000 | 17,000 | - | - |
(Purchase) of treasury stock | |||||||||
- | - | 13 | 7 | -9 | 12 | 1,916 | - | - | - |
Purchases of treasury stock | |||||||||
- | - | - | - | - | - | - | 10,850 | 5,567 | - |
Purchases of treasury stock | |||||||||
- | - | - | - | - | - | - | - | - | 1,806 |
Cash dividends paid on common stock | |||||||||
8,714 | 8,402 | 6,544 | 6,016 | 4,461 | 4,412 | 4,030 | 4,310 | 4,549 | 3,412 |
Cash dividends paid on preferred stock | |||||||||
1,346 | 953 | 614 | 936 | 917 | 800 | 389 | - | - | - |
Net (costs) proceeds from issuance of common stock | |||||||||
19,113 | 467 | 43,314 | 336 | 25,978 | 467 | 157 | 109 | 237 | - |
Net proceeds from issuance of preferred stock | |||||||||
5,310 | - | - | - | - | - | 3,986 | 8,570 | - | - |
Net payment on redemption of preferred stock | |||||||||
- | - | 11,720 | - | - | - | - | - | - | - |
Net proceeds from issuance of preferred stock | |||||||||
- | - | - | - | - | 770 | - | - | - | - |
Net proceeds from issuance (redemption) of preferred stock | |||||||||
- | - | 9,496 | -1,710 | 3,848 | - | - | - | - | - |
Net proceeds from issuance of subordinated debt | |||||||||
- | 32,337 | - | - | - | - | - | - | - | - |
Exercise of stock options | |||||||||
16 | 38 | 2 | - | - | - | - | - | 15 | 73 |
Net Cash Provided by Financing Activities | |||||||||
- | - | 221,086 | 84,943 | 310,830 | 86,899 | 26,692 | - | - | - |
Net Cash Provided by Financing Activities | |||||||||
195,718 | 497,205 | - | - | - | - | - | -41,725 | -29,894 | -62,220 |
Net Increase (Decrease) in Cash and Cash Equivalents | |||||||||
355,089 | 71,029 | - | - | - | - | - | - | - | - |
Net Increase (Decrease) In Cash and Cash Equivalents | |||||||||
- | - | 59,197 | -67,597 | 100,512 | 2,279 | -4,303 | -81,954 | -5,026 | 53,780 |
Supplementary Cash Flow Information: | |||||||||
Cash paid during the year for: Income taxes | |||||||||
10,092 | 9,163 | 4,289 | 5,317 | 2,384 | 7,416 | - | - | - | - |
Cash paid during the year for: Interest | |||||||||
40,804 | 25,645 | 15,722 | 16,523 | 13,630 | - | - | - | - | - |
Acquisition of IA Bancorp | |||||||||
Fair value for non-cash assets other than goodwill acquired in purchase transaction | |||||||||
-219 | 216,318 | - | - | - | - | - | - | - | - |
Fair value for liabilities assumed in purchase transaction | |||||||||
-198 | 201,595 | - | - | - | - | - | - | - | - |
Common stock issued | |||||||||
- | 9,952 | - | - | - | - | - | - | - | - |
Interest Paid, Net | |||||||||
40,804 | 25,645 | 15,722 | 16,523 | 13,630 | - | - | - | - | - |
Cash paid during the year for: Income taxes | |||||||||
- | - | - | - | - | - | 857 | 3,979 | 4,549 | 2,252 |
Cash paid during the year for: Interest | |||||||||
- | - | - | - | - | 10,261 | 10,601 | 11,971 | 13,271 | 13,907 |
Non-cash items: | |||||||||
Transfer of loans to other real estate owned | |||||||||
2,530 | 1,700 | 1,274 | 3,227 | - | 2,372 | 3,010 | 4,463 | 7,145 | - |
Transfer of loans to other real estate owned | |||||||||
- | - | - | - | - | - | - | - | - | 6,887 |
Loans to facilitate sales of other real estate owned | |||||||||
- | - | - | - | - | - | 650 | 1,821 | 942 | - |
Reclassification of loans originated for sale to held to maturity | |||||||||
- | - | - | - | - | 460 | 3,585 | 2,887 | 1,669 | - |
Reclassification of property held for sale to real estate owned | |||||||||
- | - | - | - | - | - | - | - | 382 | - |
Assets acquired | |||||||||
- | - | - | - | - | - | - | - | 129,235 | 514,523 |
Liabilities assumed | |||||||||
- | - | - | - | - | - | - | - | 127,807 | 486,275 |
Loans to facilitate sale of other real estate owned | |||||||||
- | - | - | - | - | - | - | - | - | 3,771 |
Reclassification of loans originated for sale to held to maturity | |||||||||
- | - | - | - | - | - | - | - | - | 5,707 |