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NEW YORK COMMUNITY BANCORP INC - 10-Q/A - 20040512 - CASH_FLOW
NEW YORK COMMUNITY BANCORP, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
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Three Months Ended
March 31,
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2004
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2003
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Cash Flows from Operating Activities:
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Net income
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$
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130,023
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$
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67,368
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Adjustments to reconcile net income to net cash provided by operating activities:
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Depreciation and amortization
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3,274
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1,710
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(Accretion) amortization of discounts/premiums, net
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(21,273
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)
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7,840
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Accretion of net deferred loan origination fees
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(1,229
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)
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(1,046
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)
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Amortization of core deposit intangibles
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2,860
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1,500
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Net securities gains
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(9,944
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)
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(6,485
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)
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Net gain on sale of loans
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(334
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)
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(862
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)
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Changes to stock plans, including related tax benefits
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34,458
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806
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Allocated portion of ESOP
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3,290
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1,711
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Changes in assets and liabilities:
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Increase in goodwill, net
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(24,399
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)
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—
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Decrease in deferred income taxes
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1,383
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7,276
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Increase in other assets
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(114,621
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)
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(7,503
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)
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(Decrease) increase in official checks outstanding
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(33,311
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)
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11,106
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Increase (decrease) in other liabilities
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52,531
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(3,501
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)
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Total adjustments
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(107,315
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)
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12,552
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Net cash provided by operating activities
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22,708
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79,920
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Cash Flows from Investing Activities:
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Proceeds from repayments and redemptions of securities held to maturity
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351,772
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4,687
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Proceeds from repayments, redemptions, and sales of securities available for sale, net
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936,845
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1,170,835
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Purchase of securities held to maturity
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(962,561
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)
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(264,395
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)
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Purchase of securities available for sale
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(2,830,660
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)
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(1,285,559
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)
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Net increase in loans
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(582,538
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)
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(322,746
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)
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Proceeds from sale of loans
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165,359
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70,804
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Purchase or acquisition of premises and equipment, net
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(4,154
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)
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(1,005
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)
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Net cash used in investing activities
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(2,925,937
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)
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(627,379
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)
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Cash Flows from Financing Activities:
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Net increase in mortgagors’ escrow
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58,549
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31,458
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Net decrease in deposits
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(301,979
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)
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(73,554
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)
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Net increase in borrowed funds
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2,732,914
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715,988
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Cash dividends and stock options exercised
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(122,217
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)
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(28,583
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)
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Stock options exercised, net of treasury stock purchased
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18,240
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(23,316
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)
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Proceeds from shares issued in secondary offering, net
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399,532
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—
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Cash in lieu of fractional shares related to stock split
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(594
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)
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—
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Net cash provided by financing activities
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2,784,445
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621,993
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Net (decrease) increase in cash and cash equivalents
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(118,784
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)
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74,534
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Cash and cash equivalents at beginning of period
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287,071
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97,645
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Cash and cash equivalents at end of period
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$
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168,287
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$
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172,179
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Supplemental information:
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Cash paid for (received from):
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Interest
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$104,625
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$54,454
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Income taxes
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(29,930
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)
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33,951
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Non-cash investing activities:
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Transfer to other real estate owned from loans
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$205
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$—
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