Income Taxes (Tables)

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The components of the Company's consolidated provision for income taxes from operations are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Current income tax expense:
Federal	$	3,091	$	(76)	$	13,620	$	4,705
State	283		133		1,169		747
Total current income tax expense	3,374		57		$	14,789	$	5,452
Deferred income tax expense:
Federal	3,034		2,744		$	7,088	$	15,039
State	625		1,121		1,644		2,563
Total deferred income tax expense	3,659		3,865		$	8,732	$	17,602
Total income tax expense	$	7,033	$	3,922	$	23,521	$	23,054

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory federal income tax rate to the Company's effective income tax rate is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Tax at statutory rate	21.0	%	21.0	%	21.0	%	21.0	%
Nondeductible compensation	(0.6)	%	4.8	%	0.3	%	0.7	%
Share-based compensation	(1.1)	%	(2.4)	%	(0.3)	%	(0.5)	%
State income taxes, net of federal benefit	2.2	%	(2.0)	%	2.2	%	1.4	%
Change in state rate	—	%	9.8	%	—	%	1.3	%
Effective income tax rate	21.5	%	31.2	%	23.2	%	23.9	%