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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:    
Net income $ 32,622 $ 15,976
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 0 500
Provision for losses on off-balance sheet commitments 0 57
Write-down of deferred tax assets, net 0 3,017
Noncash contribution expense to employee stock ownership plan 1,173 1,152
Noncash director compensation expense-common stock 227 197
Stock-based compensation expense 1,664 1,271
Amortization of core deposit intangible 921 529
Amortization of investment security premiums, net of accretion of discounts 2,695 2,912
Accretion of discount on acquired loans (807) (902)
Accretion of discount on subordinated debentures 1,025 153
Net amortization of deferred loan origination costs/fees 183 65
Gain on sale of other real estate owned 0 (6)
(Gain) loss on sale of investment securities (876) 185
Depreciation and amortization 2,143 1,941
Earnings on bank owned life insurance policies (913) (845)
Net change in operating assets and liabilities:    
Deferred rent and other rent-related expenses (382) (12)
Interest receivable and other assets 1,148 (278)
Interest payable and other liabilities 1,284 1,035
Net cash provided by operating activities 42,107 26,947
Cash Flows from Investing Activities:    
Purchase of held-to-maturity securities (1,988) (4,497)
Purchase of available-for-sale securities (235,873) (118,666)
Proceeds from sale of available-for-sale securities 16,972 55,408
Proceeds from paydowns/maturities of held-to-maturity securities 22,891 26,333
Proceeds from paydowns/maturities of available-for-sale securities 57,662 48,559
Proceeds from sale of Visa Inc. Class B restricted common stock 956 0
Loans originated and principal collected, net (84,598) (57,181)
Purchase of premises and equipment (907) (1,434)
Proceeds from sale of other real estate owned 0 414
Cash acquired from the Bank of Napa acquisition 0 59,779
Cash paid for low income housing investment (418) (902)
Net cash (used in) provided by investing activities (225,303) 7,813
Cash Flows from Financing Activities:    
Net increase in deposits 26,170 126,084
Proceeds from stock options exercised 591 88
Payment of tax withholding for stock options exercised and vesting of restricted stock (99) (60)
Federal Home Loan Bank borrowings 7,000 0
Repayment of subordinated debenture including execution costs (4,137) 0
Cash dividends paid on common stock (8,860) (6,896)
Stock repurchased, net of commissions (6,869) 0
Proceeds from stock issued under employee and director stock purchase plans and ESOP 76 765
Net cash provided by financing activities 13,872 119,981
Net (decrease) increase in cash and cash equivalents (169,324) 154,741
Cash and cash equivalents at beginning of period 203,545 48,804
Cash and cash equivalents at end of period 34,221 203,545
Supplemental disclosure of cash flow items, non-cash investing and financing activities:    
Cash paid in interest 2,599 1,535
Cash paid in income taxes 8,380 9,761
Change in unrealized gain on available-for-sale securities (1,707) 3,671
Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity 516 426
Stock issued to ESOP 1,173 1,152
Stock issued in payment of director fees 204 188
Subscription in low income housing tax credit investment 3,000 0
Repurchase of stock not yet settled 143 0
Securities transferred from available-for-sale to held-to-maturity 27,422 128,965
Acquisition: Merger consideration - stock and stock options issued to the Bank of Napa shareholders 0 53,185
Fair value of assets acquired, excluding cash acquired 0 245,342
Fair value of liabilities assumed $ 0 $ 251,938