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Income Taxes (Tables)
6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Schedule of Reconciliation of Income Tax Expense Attributable to Income from Operations with Amounts Computed by Applying U.S. Federal Tax Rate to Pretax Income from Continuing Operations

For the Three Months Ended June 30, 2023

For the Six Months Ended June 30, 2023

2023

2022

2023

2022

(in thousands)

 

Amount

 

%

 

Amount

 

%

 

Amount

 

%

 

Amount

 

%

Provision for income taxes at the statutory rate of 21%

$

20,167

21.0

$

(1,376)

21.0

$

45,953

21.0

%

$

10,914

21.0

%

Increase (reduction) in taxes resulting from:

Excess tax benefit on share-based compensation

(878)

(0.9)

(761)

11.6

(2,868)

(1.3)

%

(2,175)

(4.2)

%

Tax exempt interest income

(274)

(0.3)

(288)

4.4

(557)

(0.3)

%

(570)

(1.1)

%

Dividends received deduction

(209)

(0.2)

(163)

2.5

(433)

(0.2)

%

(434)

(0.8)

%

Tax credit

(780)

(0.8)

(1,461)

22.3

(1,559)

(0.7)

%

(2,922)

(5.6)

%

ESOP dividends paid deduction

(144)

(0.2)

(138)

2.1

(281)

(0.1)

%

(268)

(0.5)

%

Nondeductible expenses

745

0.8

258

(3.9)

1,346

0.6

%

574

1.1

%

Other items, net

(248)

(0.3)

(386)

5.8

758

0.4

%

1,168

2.2

%

Total tax expense

$

18,379

19.1

$

(4,315)

65.8

$

42,359

19.4

%

$

6,287

12.1

%