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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The following table presents the components of the provision for income taxes included in the Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022 (in thousands):
| Years Ended December 31 |
| 2024 |  | 2023 |  | 2022 |
Current |  |  |  |  |  |
Federal | $ | 22,648 |  |  | $ | 28,805 |  |  | $ | 26,653 |  |
State | 7,843 |  |  | 6,296 |  |  | 5,882 |  |
Total Current | 30,491 |  |  | 35,101 |  |  | 32,535 |  |
Deferred |  |  |  |  |  |
Federal | 10,567 |  |  | 7,698 |  |  | 11,595 |  |
State | (471) |  |  | 664 |  |  | 1,267 |  |
Total Deferred | 10,096 |  |  | 8,362 |  |  | 12,862 |  |
Provision for income taxes | $ | 40,587 |  |  | $ | 43,463 |  |  | $ | 45,397 |  |
Schedule of Effective Income Tax Rate Reconciliation | The following table presents the reconciliation of the provision for income taxes based on the federal statutory rate to the actual effective rate by amount and percent for the year ended December 31, 2024 (amounts in thousands):
| Year Ended December 31
| 2024 |  |  |  |
| Amount |  | Percent |  |  |  |  |  |  |  |
Federal income tax statutory rate | $ | 43,992 |  |  | 21.0 | % |  |  |  |  |  |  |  |
State income taxes, net of federal tax offset (1) | 6,174 |  |  | 3.0 |  |  |  |  |  |  |  |  |
State audits and amended returns | 4 |  |  | — |  |  |  |  |  |  |  |  |
Tax credits | (9,597) |  |  | (4.6) |  |  |  |  |  |  |  |  |
Low income housing tax credit partnerships, net of amortization | 6,791 |  |  | 3.2 |  |  |  |  |  |  |  |  |
Nontaxable and nondeductible items: |  |  |  |  |  |  |  |  |  |  |
Tax-exempt interest | (6,914) |  |  | (3.3) |  |  |  |  |  |  |  |  |
Investment in life insurance | (1,930) |  |  | (0.9) |  |  |  |  |  |  |  |  |
Other | 2,067 |  |  | 1.0 |  |  |  |  |  |  |  |  |
Provision for income taxes and effective income tax rate | $ | 40,587 |  |  | 19.4 | % |  |  |  |  |  |  |  |
(1) State taxes in California and Oregon made up the majority (greater than 50 percent) of the tax effect in this category. The following table presents the reconciliation of the federal statutory rate to the actual effective rate by percent for the years ended December 31, 2023 and 2022:
| Years Ended December 31 |  |  |  |  |  |  |  |
| 2023 |  | 2022 |  |  |  |  |  |  |  |
| Percent |  | Percent |  |  |  |  |  |  |  |
Federal income tax statutory rate | 21.0 | % |  | 21.0 | % |  |  |  |  |  |  |  |
State Income taxes, net of federal tax offset | 2.6 |  |  | 2.3 |  |  |  |  |  |  |  |  |
State audits and amended returns | — |  |  | (0.1) |  |  |  |  |  |  |  |  |
Tax credits | (2.7) |  |  | (1.9) |  |  |  |  |  |  |  |  |
Low income housing partnerships, net of amortization | 2.0 |  |  | 1.4 |  |  |  |  |  |  |  |  |
Nontaxable and nondeductible items: |  |  |  |  |  |  |  |  |  |  |
Tax-exempt interest | (3.6) |  |  | (3.6) |  |  |  |  |  |  |  |  |
Investment in life insurance | (0.9) |  |  | (0.7) |  |  |  |  |  |  |  |  |
Other | 0.7 |  |  | 0.5 |  |  |  |  |  |  |  |  |
Provision for income taxes and effective income tax rate | 19.1 | % |  | 18.9 | % |  |  |  |  |  |  |  |
Schedule of Income Taxes Paid [Table Text Block] | The following table presents income taxes paid (net of refunds received) for the year ended December 31, 2024 (in thousands):
| Income Taxes Paid
US federal | $ | 20,000 |
US state and local |
California | 2,705 |
Oregon | 1,215 |
Idaho | 220 |
Utah | 39 |
Montana | 15 |
Total | $ | 24,194 |
Schedule of Net Deferred Tax Asset | The following table reflects the effect of temporary differences that gave rise to the components of the net deferred tax asset as of December 31, 2024 and 2023 (in thousands):
| December 31
| 2024 |  | 2023
Deferred tax assets: |  |  |
Loan loss and REO | $ | 41,045 |  |  | $ | 39,495 |
Deferred compensation | 22,983 |  |  | 21,470 |
Net operating loss carryforward | 10,482 |  |  | 12,967 |
Federal and state tax credits | 758 |  |  | 758 |
State net operating losses | 3,757 |  |  | 3,978 |
Loan discount | 379 |  |  | 625 |
Lease liability | 10,416 |  |  | 11,547 |
Unrealized loss on securities—available-for-sale, net | 87,709 |  |  | 91,455 |
Other | 1,191 |  |  | 4,222 |
Total deferred tax assets | 178,720 |  |  | 186,517 |
Deferred tax liabilities: |  |  |
Depreciation | (3,783) |  |  | (5,428) |
Deferred loan fees, servicing rights and loan origination costs | (12,575) |  |  | (13,008) |
Intangibles | (2,922) |  |  | (3,313) |
Right of use asset | (9,583) |  |  | (10,378) |
Financial instruments accounted for under fair value accounting | (815) |  |  | (841) |
Total deferred tax liabilities | (29,678) |  |  | (32,968) |
Deferred income tax asset | 149,042 |  |  | 153,549 |
Valuation allowance | (184) |  |  | (184) |
Deferred tax asset, net | $ | 148,858 |  |  | $ | 153,365 |
Schedule of Unrecognized Tax Benefits Roll Forward |
| Years Ended December 31
| 2024 |  | 2023
Balance, beginning of year | $ | 2,000 |  |  | $ | 1,600 |
Changes related to prior year tax positions | — |  |  | 149 |
Changes related to current year tax positions | — |  |  | 251 |
Balance, end of year | $ | 2,000 |  |  | $ | 2,000 |
Schedule of Affordable Housing Tax Credit Information | The following table presents the balances of the Company’s tax credit investments and related unfunded commitments at December 31, 2024 and 2023 (in thousands):
| December 31, 2024 |  | December 31, 2023
Tax Credit Investments: |  |  |
Total commitments | $ | 153,618 |  |  | $ | 103,453 |
Unfunded commitments | 94,416 |  |  | 62,594 |
The following table presents other information related to the Company’s tax credit investments for the years ended December 31, 2024, 2023 and 2022 (in thousands):
| For the years ended December 31,
| 2024 |  | 2023 |  | 2022
Tax credits and other tax benefits recognized | $ | 12,072 |  |  | $ | 8,018 |  |  | $ | 5,621 |
Tax credit amortization expense included in provision for income taxes | 9,334 |  |  | 6,449 |  |  | 4,638 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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