Income Taxes

9 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Income taxes

The following table presents a reconciliation of income taxes for the three and nine months ended September 30, 2025 and 2024:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2025				2024				2025				2024
Federal taxes calculated     at statutory rate	$	6,217	21.0	%	$	2,392	21.0	%	$	14,427	21.0	%	$	20,275	21.0	%
Increase (decrease)      resulting from:
State taxes, net of federal    benefit	125		0.4	%	(986)		(8.7)	%	372		0.5	%	(776)		(0.8)	%
(Benefit) expense from   stock-based compensation	(29)		(0.1)	%	(1)		—	%	(408)		(0.6)	%	75		0.1	%
Municipal interest     income, net of interest     disallowance	(408)		(1.4)	%	(313)		(2.7)	%	(1,221)		(1.8)	%	(1,014)		(1.1)	%
Bank-owned life insurance	(151)		(0.5)	%	(81)		(0.7)	%	(334)		(0.5)	%	(692)		(0.7)	%
Section 162(m) limitation	110		0.4	%	43		0.4	%	795		1.2	%	247		0.3	%
Expiration of the statute of    limitations(1)	—		—	%	—		—	%	(8,713)		(12.7)	%	—		—	%
Interest on refunds(1)	—		—	%	—		—	%	(2,591)		(3.8)	%	—		—	%
Other	363		1.2	%	120		1.0	%	719		1.1	%	278		0.3	%
Income tax expense, as    reported	$	6,227	21.0	%	$	1,174	10.3	%	$	3,046	4.4	%	$	18,393	19.1	%
(1) For the nine months ended September 30, 2025, a one-time tax benefit of $10,713 was recognized due to the expiration of the statute of limitations with respect to an amended income tax return and the associated interest.

On July 4, 2025, new tax legislation referred to as the One Big Beautiful Bill Act was enacted into law by the federal government. The tax provisions of the One Big Beautiful Bill Act did not have a material impact on our income tax expense. The retroactive extension of bonus depreciation has afforded the Company additional income tax deductions for 2025, reducing the anticipated income taxes payable for 2025.