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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities:    
Net income $ 19,285 $ 33,705
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for (reversal of) credit losses on loans 1,275 (63)
Reversal of credit losses on unfunded loan commitments (342) (318)
Noncash contribution expense to employee stock ownership plan 967 1,233
Noncash director compensation expense 398 355
Stock-based compensation expense 584 642
Amortization of core deposit intangible 1,020 1,124
Amortization of investment security premiums, net of accretion of discounts 5,529 7,139
(Accretion of discounts) amortization of premiums on acquired loans, net (461) 143
Net change in deferred loan origination costs/fees (800) (2,484)
Write-down of other real estate owned 40 345
(Gains) losses on sale of investment securities, net (14) 63
Depreciation and amortization 1,705 1,259
Earnings on bank-owned life insurance policies (1,438) (933)
Net changes in interest receivable and other assets 196 2,230
Net changes in interest payable and other liabilities 6,928 (5,489)
Total adjustments 15,587 5,246
Net cash provided by operating activities 34,872 38,951
Cash Flows from Investing Activities:    
Purchase of held-to-maturity securities 0 (293,720)
Purchase of available-for-sale securities 0 (243,459)
Proceeds from sale of available-for-sale securities 79,840 10,664
Proceeds from paydowns/maturities of held-to-maturity securities 37,046 33,198
Proceeds from paydowns/maturities of available-for-sale securities 50,749 112,793
Proceeds from sale of Visa Inc. Class B restricted common stock 2,807 0
Decrease in loans receivable, net 6,634 97,935
Proceeds from bank-owned life insurance policies 766 350
Purchase of premises and equipment (1,737) (762)
Proceeds from sale of other real estate owned 420 0
Cash paid for low income housing tax credit investment (39) (30)
Net cash provided by (used in) investing activities 176,486 (283,031)
Cash Flows from Financing Activities:    
Net (decrease) increase in deposits (129,664) 94,160
Proceeds from short-term borrowings, net 8,000 0
Repayment of finance lease obligations (112) (96)
Proceeds from stock options exercised 230 821
Restricted stock surrendered for tax withholdings upon vesting (70) (40)
Cash dividends paid on common stock (12,070) (11,666)
Stock repurchased, including commissions 0 (1,250)
Proceeds from stock issued under employee and director stock purchase plans 36 62
Net cash (used in) provided by financing activities (133,650) 81,991
Net increase (decrease) in cash, cash equivalents and restricted cash 77,708 (162,089)
Cash, cash equivalents and restricted cash at beginning of period 45,424 347,641
Cash, cash equivalents and restricted cash at end of period 123,132 185,552
Supplemental disclosure of cash flow information:    
Cash paid in interest 23,036 1,716
Cash paid in income taxes 0 11,075
Supplemental disclosure of noncash investing and financing activities:    
Change in net unrealized gains or losses on available-for-sale securities (8,140) (97,094)
Securities transferred from available-for-sale to held-to-maturity, at fair value 0 357,482
Amortization of net unrealized loss on available-for-sale securities transferred to held-to-maturity 1,325 1,126
Noncash contribution expense to employee stock ownership plan 967 1,233
Restricted cash [1] $ 0 $ 2,996
[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.