XML 104 R90.htm IDEA: XBRL DOCUMENT v3.24.0.1
Income Taxes (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Components of the provision for income taxes, exclusive of tax effect of unrealized AFS securities gains and losses [Abstract]      
Current federal income tax expense $ 14,954 $ 14,882 $ 16,160
Current state income tax expense 4,901 1,096 4,214
Deferred federal income tax expense 382 194 1,138
Deferred state income tax expense 327 3,056 1,192
Total income tax expense 20,564 19,228 22,704
Reconciliation of income tax expense at the statutory rate to actual income tax expense [Abstract]      
Computed at the statutory rate 20,699 21,219 23,235
Adjustments resulting from [Abstract]      
Tax-exempt interest (637) (717) (690)
Housing and new markets credits (3,205) (3,105) (3,939)
Bank owned life insurance (496) (367) (382)
ESOP dividend deduction (259) (240) (233)
Stock option exercises and restricted stock vesting (8) (1) 25
State income taxes 4,131 3,281 4,270
Split dollar life insurance 126 (184) 212
Other 213 (658) 206
Total income tax expense $ 20,564 $ 19,228 $ 22,704
Reconciliation of income tax expense at the statutory rate to actual income tax expense [Abstract]      
Computed at the statutory rate 21.00% 21.00% 21.00%
Adjustments resulting from [Abstract]      
Tax-exempt interest (0.65%) (0.70%) (0.62%)
Housing and new markets credits (3.25%) (3.07%) (3.56%)
Bank owned life insurance (0.50%) (0.36%) (0.35%)
ESOP dividend deduction (0.26%) (0.24%) (0.21%)
Stock option exercises and restricted stock vesting (0.01%) 0.00% 0.02%
State income taxes 4.19% 3.25% 3.86%
Split dollar life insurance 0.13% (0.19%) 0.19%
Other 0.21% (0.66%) 0.19%
Total 20.86% 19.03% 20.52%
Deferred tax assets [Abstract]      
Allowance for credit losses $ 12,361 $ 11,472  
Interest on nonaccrual loans 277 362  
Accrued expenses 1,633 2,969  
Unrealized losses on AFS securities 34,311 45,339  
Allowance for other real estate owned 49 223  
Lease liabilities 4,090 4,398  
Other 790 485  
Total deferred tax assets 53,511 65,248  
Deferred tax liabilities [Abstract]      
Depreciation and amortization (14,927) (14,859)  
FHLB stock dividends (341) (827)  
Loan fee income (1,519) (1,136)  
Mortgage servicing rights (1,912) (2,113)  
Limited partnership investments (843) (710)  
Right of use assets (3,918) (4,259)  
Other (1,910) (1,466)  
Total deferred tax liabilities (25,370) (25,370)  
Net deferred tax asset $ 28,141 $ 39,878