Note 11 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2024			2023		2022
Current:
Federal	$	15,556		$	16,185	$	33,169
State		11,158			9,635		13,247
Subtotal		26,714			25,820		46,416
Deferred:
Federal		258			2,903		(3,353	)
State		(2,298	)		1,232		2,950
Subtotal		(2,040	)		4,135		(403	)
Income tax expense	$	24,674		$	29,955	$	46,013

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2024			2023			2022
Income before income tax expense	$	98,467		$	116,958		$	171,224
Federal statutory rate		21	%		21	%		21	%
Computed “expected” Federal income tax expense		20,678			24,561			35,957
State tax, net of federal tax benefit		6,514			9,404			13,314
162M adjustment		469			779			777
Bank owned life insurance		(1,500	)		(1,326	)		(1,175	)
Tax-exempt interest and dividends		(2,632	)		(2,514	)		(1,969	)
Tax benefits from stock-based compensation		109			(66	)		(417	)
Other, net		1,036			(883	)		(474	)
Income tax expense	$	24,674		$	29,955		$	46,013

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2024			2023
	(dollars in thousands)
Deferred tax assets
Allowance for credit losses	$	24,891		$	23,973
Depreciation		6			65
Pension actuarial losses		272			897
New Jersey net operating loss		2,683			1,187
Deferred compensation		4,919			5,240
Unrealized losses on available-for-sale securities		25,959			23,365
Deferred loan costs, net of fees		1,608			1,628
Finance lease		163			192
Nonaccrual interest		275			111
Operating lease liability		4,671			3,897
Other		1,519			1,887
Total deferred tax assets	$	66,966		$	62,442
Deferred tax liabilities
Employee benefit plans	$	(2,515	)	$	(2,439	)
Purchase accounting		(1,599	)		(1,660	)
Prepaid expenses		(1,551	)		(1,386	)
Unrealized gains on derivatives		(8,790	)		(10,676	)
Right of use asset		(4,304	)		(3,545	)
Other		(1,240	)		(1,664	)
Total deferred tax liabilities		(19,999	)		(21,370	)
Net deferred tax assets	$	46,967		$	41,072