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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities:    
Net income $ 21,531 $ 18,232
Adjustments to reconcile net income to net cash provided by operating activities:    
Reversal of credit losses on loans (485) (3,849)
Reversal of credit losses on unfunded loan commitments (318) (1,202)
Noncash contribution expense to employee stock ownership plan 829 668
Noncash director compensation expense 193 117
Stock-based compensation expense 385 738
Amortization of core deposit intangible 754 408
Amortization of investment security premiums, net of accretion of discounts 4,963 1,753
Accretion of premiums (discounts) on acquired loans 281 (78)
Accretion of discount on subordinated debenture 0 1,347
Net change in deferred loan origination costs/fees (2,322) 1,146
Depreciation and amortization 845 848
Earnings on bank-owned life insurance policies (711) (490)
Net changes in interest receivable and other assets (443) 952
Net changes in interest payable and other liabilities (5,894) (821)
Total adjustments (1,923) 1,537
Net cash provided by operating activities 19,608 19,769
Cash Flows from Investing Activities:    
Purchase of held-to-maturity securities (208,784) (74,521)
Purchase of available-for-sale securities (243,459) (170,161)
Proceeds from paydowns/maturities of held-to-maturity securities 16,827 14,376
Proceeds from paydowns/maturities of available-for-sale securities 76,276 36,936
Loan principal collected, net of originations 93,875 84,259
Purchase of bank-owned life insurance policies 0 (1,943)
Cash receipts from bank-owned life insurance policies 350 0
Purchase of premises and equipment (354) (765)
Cash paid for low income housing tax credit investment (30) (346)
Net cash used in investing activities (265,299) (112,165)
Cash Flows from Financing Activities:    
Net increase in deposits 22,120 179,326
Proceeds from stock options exercised 820 351
Restricted stock surrendered for tax withholdings upon vesting (40) (156)
Proceeds from stock issued under employee and director stock purchase plans 30 71
Stock repurchased, including commissions (1,250) (19,677)
Repayment of subordinated debenture including execution costs 0 (4,126)
Repayment of finance lease obligations (63) (32)
Cash dividends paid on common stock (7,662) (6,138)
Net cash provided by financing activities 13,955 149,619
Net (decrease) increase in cash, cash equivalents and restricted cash (231,736) 57,223
Cash, cash equivalents and restricted cash at beginning of period 347,641 200,320
Cash, cash equivalents and restricted cash at end of period 115,905 257,543
Supplemental disclosure of cash flow information:    
Cash paid in interest 1,175 951
Cash paid in income taxes 8,450 6,000
Supplemental disclosure of noncash investing and financing activities:    
Change in net unrealized gain or (loss) on available-for-sale securities (65,278) (6,284)
Securities transferred from available-for-sale to held-to-maturity, at fair value 357,482 0
Amortization of net unrealized loss on available-for-sale securities transferred to held-to-maturity 616 281
Purchase of investment securities not yet settled 40,278 0
Stock issued to employee stock ownership plan 829 668
Stock issued in payment of director fees 193 117
Restricted cash [1] $ 930 $ 1,930
[1] Restricted cash includes reserve requirements held with the Federal Reserve Bank of San Francisco and other cash pledged. In response to the COVID-19 pandemic, the Federal Reserve reduced the reserve requirement ratios to zero percent effective March 26, 2020.