As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD
Source Document Currency Code 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD

CASH FLOWS FROM OPERATING ACTIVITIES

Net income 8,157 9,433 10,027 7,430

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

Amortization of intangible assets 1,310 1,136 986 860
Deferred income tax (benefit) expense (2,263) 774 (2,564) 4,251
Provision for loan losses 3,981 1,571 2,437 9,022
(Gain) loss on disposal of fixed assets 14 (18) 0 29
Depreciation and amortization of fixed assets 3,861 4,044 4,205 3,703
Amortization of premiums on securities, net 2,398 1,903 1,771 1,450
Gains on sales of loans held for sale, net (301) (294) (326) (260)
Proceeds from sales of loans held for sale 14,062 13,669 15,498 9,722
Loans originated and held for sale (13,731) (13,786) (14,508) (9,592)
Net (gains) losses on sale of other real estate owned 64 (84) (21) (38)
Writedowns on OREO 141 390 7 43
Net (gains) losses on trading assets (50) 2 (76) (137)
Net gains on securities transactions (6,869) (372) (987) (109)
Proceeds from sales of trading assets 7 16 99 20
Purchase of trading assets (140) (170) (96) (97)
(Increase) decrease in other assets (7,579) 4,931 (165) 636
Increase (decrease) in accrued interest payable (99) (28) 1 (62)
Expense related to restricted stock units for directors' deferred compensation plan 94 95 97 98
Expense related to employee stock compensation 117 93 210 200
Expense related to employee restricted stock awards 151 314 192 210
Increase (decrease) in other liabilities 15,086 (9,421) 5,427 (3,664)
Proceeds from bank owned life insurance 110 NA NA NA
Income from bank owned life insurance (78) (75) (73) (70)
Net cash provided by operating activities 18,443 14,123 22,141 23,645

CASH FLOWS FROM INVESTING ACTIVITIES

Proceeds from sales and calls of securities available for sale 62,738 73,823 51,128 6,656
Proceeds from maturities and principal collected on securities available for sale 24,222 48,601 78,160 45,498
Proceeds from maturities and principal collected on securities held to maturity 3,201 3,290 2,868 2,891
Purchases of securities available for sale (23,613) (191,112) (95,993) (41,306)
Purchases of securities held to maturity (2,537) (2,025) (3,007) (1,967)
Purchase of FHLBNY and FRBNY stock (3,907) (8,552) (5,458) (7,208)
Redemption of FHLBNY and FRBNY stock 2,854 9,290 6,214 5,465
Proceeds from sales of fixed assets 0 18 0 16
Purchases of premises and equipment (2,586) (1,154) (1,696) (1,482)
Proceeds from sale of other real estate owned 342 1,329 1,568 383
Net increase in loans (131,852) (48,156) (34,513) (115,588)
Net cash used by investing activities (71,138) (114,648) (729) (106,642)

CASH FLOWS FROM FINANCING ACTIVITIES

Net increase in demand deposits, interest-bearing demand accounts, savings accounts, and insured money market accounts 46,407 166,045 78,021 36,847
Net decrease in time deposits (32,649) (45,764) (21,973) (25,744)
Net decrease in securities sold under agreements to repurchase (3,049) (1,199) (847) (17,606)
Net change in FHLBNY overnight advances 30,830 (16,930) (13,900) 57,700
Repayments of FHLBNY long term advances (5,933) (107) (10,110) (7,093)
Payments made on capital lease (561) (103) (186) (205)
Sale of treasury stock 0 438 438 582
Cash dividends paid (4,796) (4,833) (4,878) (4,917)
Net cash provided by financing activities 30,249 97,547 26,565 39,564
Net increase (decrease) in cash and cash equivalents (22,446) (2,978) 47,977 (43,433)
Cash and cash equivalents, beginning of period 51,609 29,163 26,185 74,162
Cash and cash equivalents, end of period 29,163 26,185 74,162 30,729

Supplemental disclosure of cash flow information

Cash paid during the year for

Interest 3,744 3,630 3,838 3,130
Income Taxes 3,346 7,047 4,360 4,050

Supplemental disclosure of non-cash activity

Transfer of loans to other real estate owned 3,074 100 412 1,940
Dividends declared, not yet paid 1,204 1,214 1,225 1,233
Assets acquired through long term capital lease obligation 3,537 0 2,035 0
Repurchase of common stock in lieu of employee payroll taxes 0 (33) (22) (61)
Distribution of treasury stock for directors' deferred compensation plan 3 3 3 11
Distribution of treasury stock for directors' compensation 273 271 262 269
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