INCOME TAX

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

INCOME TAX

INCOME TAX

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 condensed statements of income for the three and nine months ended September 30, 2024 and 2023:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Reconciliation of Federal Statutory to Actual Tax Expense:
Federal statutory income tax at 21%	$	11,833		$	13,728		$	32,572		$	44,589
Tax-exempt interest income	(4,409)			(4,469)			(13,157)			(13,792)
Non-deductible FDIC premiums	180			126			462			299
Share-based compensation	98			(108)			113			(172)
Tax-exempt earnings and gains on life insurance	(579)			(369)			(1,318)			(1,080)
Tax credits	(305)			(84)			(969)			(249)
State Income Tax	333			254			142			1,474
Other	9			(73)			207			(48)
Actual Tax Expense	$	7,160		$	9,005		$	18,052		$	31,021
Effective Tax Rate	12.7		%	13.8		%	11.6		%	14.6		%