As Reported Financials

Source Document Currency Code (in thousands) 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD
Source Document Currency Code 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD

CASH FLOWS FROM OPERATING ACTIVITIES

Net income 8,731 8,157 9,433 10,027

Adjustments to reconcile net income to net cash provided by operating activities

Amortization of intangible assets 921 1,310 1,136 986
Deferred income tax (benefit) expense (121) (2,263) 774 (2,564)
Provision for loan losses 2,755 3,981 1,571 2,437
(Gain) loss on disposal of fixed assets 0 14 (18) 0
Depreciation and amortization of fixed assets 3,236 3,861 4,044 4,205
Amortization of premiums on securities, net 2,280 2,398 1,903 1,771
Gains on sales of loans held for sale, net (503) (301) (294) (326)
Proceeds from sales of loans held for sale 20,076 14,062 13,669 15,498
Loans originated and held for sale (19,210) (13,731) (13,786) (14,508)
Gain on bargain purchase (470) NA NA NA
Net (gains) losses on sale of other real estate owned (28) 64 (84) (21)
Writedowns on OREO 3 141 390 7
Net (gains) losses on trading assets (43) (50) 2 (76)
Net gains on securities transactions (16) (6,869) (372) (987)
Net impairment loss recognized on investment securities 29 NA NA NA
Proceeds from sales of trading assets 112 7 16 99
Purchase of trading assets (87) (140) (170) (96)
(Increase) decrease in other assets (4,246) (7,579) 4,931 (165)
Increase (decrease) in accrued interest payable (108) (99) (28) 1
Expense related to restricted stock units for directors' deferred compensation plan 99 94 95 97
Expense related to employee stock compensation 112 117 93 210
Expense related to employee restricted stock awards 131 151 314 192
Increase (decrease) in other liabilities 9,403 15,086 (9,421) 5,427
Proceeds from bank owned life insurance 0 110 0 0
Income from bank owned life insurance (84) (78) (75) (73)
Net cash provided by operating activities 22,972 18,443 14,123 22,141

CASH FLOWS FROM INVESTING ACTIVITIES

Proceeds from sales and calls of securities available for sale 18,150 62,738 73,823 51,128
Proceeds from maturities and principal collected on securities available for sale 44,046 24,222 48,601 78,160
Proceeds from maturities and principal collected on securities held to maturity 5,703 3,201 3,290 2,868
Purchases of securities available for sale (174,034) (23,613) (191,112) (95,993)
Purchases of securities held to maturity (6,449) (2,537) (2,025) (3,007)
Purchase of FHLBNY and FRBNY stock (16,124) (3,907) (8,552) (5,458)
Redemption of FHLBNY and FRBNY stock 16,353 2,854 9,290 6,214
Proceeds from sales of fixed assets 0 0 18 0
Purchases of premises and equipment (3,711) (2,586) (1,154) (1,696)
Cash received acquisition of Bank of America branches 173,673 NA NA NA
Cash paid Bank of America branches (2,768) NA NA NA
Proceeds from sale of other real estate owned 155 342 1,329 1,568
Net increase in loans (101,481) (131,852) (48,156) (34,513)
Net cash used by investing activities (46,487) (71,138) (114,648) (729)

CASH FLOWS FROM FINANCING ACTIVITIES

Net increase in demand deposits, interest-bearing demand accounts, savings accounts, and insured money market accounts 67,566 46,407 166,045 78,021
Net decrease in time deposits (27,085) (32,649) (45,764) (21,973)
Net decrease in securities sold under agreements to repurchase (9) (3,049) (1,199) (847)
Net change in FHLBNY overnight advances 0 30,830 (16,930) (13,900)
Repayments of FHLBNY long term advances (1,983) (5,933) (107) (10,110)
Payments made on capital lease 0 (561) (103) (186)
Purchase of treasury stock (93) NA NA NA
Sale of treasury stock 71 0 438 438
Cash dividends paid (3,584) (4,796) (4,833) (4,878)
Net cash provided by financing activities 34,883 30,249 97,547 26,565
Net increase (decrease) in cash and cash equivalents 11,368 (22,446) (2,978) 47,977
Cash and cash equivalents, beginning of period 40,241 51,609 29,163 26,185
Cash and cash equivalents, end of period 51,609 29,163 26,185 74,162

Supplemental disclosure of cash flow information

Cash paid during the year for

Interest 4,163 3,744 3,630 3,838
Income Taxes 5,304 3,346 7,047 4,360

Supplemental disclosure of non-cash activity

Transfer of loans to other real estate owned 103 3,074 100 412
Dividends declared, not yet paid 1,195 1,204 1,214 1,225
Assets acquired through long term capital lease obligation 0 3,537 0 2,035
Repurchase of common stock in lieu of employee payroll taxes 0 0 (33) (22)
Distribution of treasury stock for directors' deferred compensation plan 11 3 3 3
Distribution of treasury stock for directors' compensation 217 273 271 262
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