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Income Taxes (Tables)
9 Months Ended
Sep. 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 September 30, 2023

For the Nine Months Ended September 30, 2023

2023

2022

2023

2022

(in thousands)

 

Amount

 

%

 

Amount

 

%

 

Amount

 

%

 

Amount

 

%

Provision for income taxes at the statutory rate of 21%

$

3,154

21.0

$

116,487

21.0

$

49,107

21.0

%

$

127,401

21.0

%

Increase (reduction) in taxes resulting from:

Excess tax benefit on share-based compensation

(395)

(2.6)

(95)

(0.0)

(3,263)

(1.4)

%

(2,270)

(0.4)

%

Tax exempt interest income

(270)

(1.8)

(280)

(0.1)

(827)

(0.4)

%

(850)

(0.1)

%

Dividends received deduction

(164)

(1.1)

(240)

(0.0)

(597)

(0.3)

%

(673)

(0.1)

%

Tax credit

(779)

(5.2)

(1,461)

(0.3)

(2,338)

(1.0)

%

(4,383)

(0.7)

%

ESOP dividends paid deduction

(142)

(1.0)

(136)

(0.0)

(423)

(0.2)

%

(404)

(0.0)

%

Nondeductible expenses

158

1.1

34

0.0

1,505

0.6

%

608

0.1

%

Other items, net

(79)

(0.5)

500

0.1

678

0.4

%

1,667

0.2

%

Total tax expense

$

1,483

9.9

$

114,809

20.7

$

43,842

18.7

%

$

121,096

20.0

%