INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

Income tax expense for the year ended December 31, 2024, 2023, and 2022 is listed in the following table

	2024			2023			2022
Current income tax expense
Federal	$	13,847		$	(3,072	)	$	6,679
State		1,017			101			3,321
Total current income tax expense		14,864			(2,971	)		10,000
Deferred income tax expense (benefit)
Federal		2,703			(2,349	)		2,197
State		(1,907	)		(86	)		397
Total deferred income tax expense (benefit)		796			(2,435	)		2,594
Total income tax expense	$	15,660		$	(5,406	)	$	12,594

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax expense at the U.S. federal statutory rate (21% in 2024, 2023, and 2022) to the Company’s actual income tax expense for the year ended December 31, 2024, 2023, and 2022 is shown below.

	2024			2023			2022
Computed at the statutory rate	$	16,439		$	507		$	14,759
Increase (decrease) resulting from:
State and local taxes, net of federal benefit		364			(517	)		2,665
Tax-exempt interest		(332	)		(412	)		(749	)
Non-taxable life insurance income		(1,043	)		(852	)		(654	)
Non-deductible expenses		426			814			258
Share-based payments		(477	)		2			(200	)
Federal tax credits		(92	)		(3,715	)		(4,330	)
Investments reported under proportional amortization method		(1,441	)		(1,253	)	—
Bargain purchase gain		(448	)	—			—
Change in valuation allowance		(1,410	)		98			354
Other		316			171			491
Non-deductible transactions costs		56			62		—
Captive insurance company		(273	)		(311	)	—
BOLI surrender		3,575		—			—
Income tax expense	$	15,660		$	(5,406	)	$	12,594

Components of Deferred Tax Assets and Liabilities

Components of deferred tax assets and liabilities at December 31, 2024 and 2023 are shown in the table below.

	2024			2023
Deferred tax assets
Allowance for credit losses	$	10,812		$	11,075
Tax credit carryforwards		635			635
Goodwill amortization		1,952			2,311
Accrued compensation		2,270			1,850
Net operating loss and attribute carryforwards		3,473			4,763
Net unrealized (gains) losses on securities and cash flow hedges		17,544			18,789
Other real estate owned		661			475
Acquired loans fair market value adjustments		81			—
Deferred Revenue		209			336
Acquired securities retained		1,114			683
Other		650			542
Gross deferred tax assets		39,401			41,459
Deferred tax liabilities
Assumed debt fair market value adjustments		1,061			1,166
Depreciation		5,222			5,241
Federal Home Loan Bank stock dividends		121			15
Core deposit intangibles		2,644			662
Acquired loans fair market value adjustments		—			842
Prepaid expenses		684			658
Other		841			485
Gross deferred tax liabilities		10,573			9,069
Valuation allowance		(852	)		(2,262	)
Net deferred tax asset (liability)	$	27,976		$	30,128