Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Schedule of provision for income taxes includes components

	Year Ended
	December 31,
	2019				2018		2017
		(In thousands)
Income tax expense
Current tax payable
Federal	$	21,396		$	13,312		$	21,413
State		4,387			5,528			3,479
Deferred tax payable
Federal		(375)			1,583			(2,627)
State		(603)			730			212
Income tax expense	$	24,805		$	21,153		$	22,477
Effective tax rate		24.3	%		29.1	%		29.1	%

Schedule of a reconciliation of statutory federal tax rate and effective tax rate

	Year Ended
	December 31,
	2019			2018	2017
	(In thousands)
Computed at the statutory rate (21% for 2019 and 2018, and 35% for 2017)	$	21,448	$	17,646	$	27,006
Increase resulting from
State income taxes		2,989		4,944		2,399
Effect of Tax Cuts and Jobs Act		—		—		(6,928)
Tax Credits net of related amortization		(190)		(1,533)		—
Other		558		96		—
Actual tax expense	$	24,805	$	21,153	$	22,477

Schedule of tax effects of temporary differences related to deferred taxes

	December 31,
	2019		2018
	(In thousands)
Deferred tax assets
Allowance for loan losses	$	4,069	$	3,366
Unrealized loss on available for sale securities		—		148
Fair value adjustments on acquisitions		228		—
Other		1,309		854
Total assets		5,606		4,368
Deferred tax liabilities
Depreciation		(1,374)		(466)
Intangible assets		(466)		(618)
Mortgage servicing rights		(17,035)		(17,477)
Limited partnership investments		(1,791)		(2,212)
Unrealized loss on available for sale securities		(121)		—
Fair value adjustments on acquisitions		—		(3)
Total liabilities		(20,787)		(20,776)
Net deferred tax liability	$	(15,181)	$	(16,408)