INCOME TAX (Tables)

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Summary of Reconciliation of Federal Statutory to Actual Tax Expense

The following table summarizes the major components creating differences between income taxes at the federal statutory and the effective tax rate recorded in the consolidated statements of income for the three and nine months ended September 30, 2022 and 2021:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Reconciliation of Federal Statutory to Actual Tax Expense:
Federal statutory income tax at 21%	$	15,445		$	12,984		$	36,176		$	39,082
Tax-exempt interest income	(4,974)			(4,196)			(14,371)			(11,795)
Share-based compensation	(79)			119			(146)			47
Tax-exempt earnings and gains on life insurance	(1,397)			(503)			(2,026)			(1,037)
Tax credits	(122)			(127)			(292)			(277)
State Income Tax	658			678			1,177			2,252
Other	262			107			420			36
Actual Tax Expense	$	9,793		$	9,062		$	20,938		$	28,308
Effective Tax Rate	13.3		%	14.7		%	12.2		%	15.2		%