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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2020
USD ($)
Cash Flows from Operating Activities:      
Net income $ 7,406 $ 18,232 $ 14,634
Adjustments to reconcile net income to net cash provided by operating activities:      
(Reversal of) provision for credit losses on loans 2,000 (3,849) 4,200
(Reversal of) provision for credit losses on unfunded loan commitments 260 (1,202) 362
Noncash contribution expense to employee stock ownership plan   668 648
Noncash director compensation expense   162 150
Stock-based compensation expense   738 785
Amortization of core deposit intangible 213 408 426
Amortization of investment security premiums, net of accretion of discounts   1,753 344
Accretion of discounts on acquired loans   (78) (55)
Accretion of discount on subordinated debenture   1,347 35
Net change in deferred loan origination costs/fees   1,146 7,829
Gain on sale of investment securities (115) 0 (915)
Depreciation and amortization 526 848 1,052
Earnings on bank-owned life insurance policies (234) (490) (509)
Net changes in:      
Interest receivable and other assets   952 (2,174)
Interest payable and other liabilities   (866) 2,816
Total adjustments   1,537 14,994
Net cash provided by operating activities   19,769 29,628
Cash Flows from Investing Activities:      
Purchase of held-to-maturity securities   (74,521) 0
Purchase of available-for-sale securities   (170,161) (56,912)
Proceeds from sale of available-for-sale securities 6,314 0 33,756
Proceeds from paydowns/maturities of held-to-maturity securities   14,376 11,530
Proceeds from paydowns/maturities of available-for-sale securities   36,936 36,951
Loans originated and principal collected, net   84,259  
Loans originated and principal collected, net     (273,169)
Purchase of bank-owned life insurance policies   (1,943) (941)
Purchase of premises and equipment   (765) (242)
Cash paid for low income housing tax credit investment   (346) (1,251)
Net cash used in investing activities   (112,165) (250,278)
Cash Flows from Financing Activities:      
Net increase in deposits   179,326 443,377
Proceeds from stock options exercised   351 1,277
Payment of tax withholdings for vesting of restricted stock   (156) (73)
Proceeds from stock issued under employee and director stock purchase plans   71 51
Stock repurchased, net of commissions   (19,677) (3,333)
Repayment of subordinated debenture including execution costs   (4,126) 0
Repayment of finance lease obligations   (32) (90)
Cash dividends paid on common stock   (6,138) (6,248)
Net cash provided by financing activities   149,619 434,961
Net increase in cash, cash equivalents and restricted cash   57,223 214,311
Cash, cash equivalents and restricted cash at beginning of period   200,320 183,388
Cash, cash equivalents and restricted cash at end of period 397,699 257,543 397,699
Supplemental disclosure of cash flow information:      
Cash paid in interest   951 1,871
Cash paid in income taxes   6,000 0
Supplemental disclosure of noncash investing and financing activities:      
Change in net unrealized gains on available-for-sale securities   (6,284) 11,306
Amortization of net unrealized loss on available-for-sale securities transferred to held-to-maturity 135 281 245
Stock issued to employee stock ownership plan   668 648
Stock issued for director compensation expense   162 150
Restricted cash $ 0 [1] $ 0 [1] $ 0 [1]
[1] Restricted cash includes reserve requirements held with the Federal Reserve Bank of San Francisco. In response to the COVID-19 pandemic, the Federal Reserve reduced the reserve requirement ratios to zero percent effective March 26, 2020.