Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Difference Between Provision for Income Taxes and Amounts Computed by Applying Statutory Federal Income Tax Rate to Income Before Income Taxes

The following table presents the differences between the provision for income taxes at the federal statutory rate and the amounts computed as reported for the periods stated.

	For the years ended December 31,
(Dollars in thousands)	2021					2020
Income tax at federal statutory rate	$	14,317		21.0	%	$	4,725		21.0	%
Increase (decrease) resulting from:
State income taxes, net of federal tax effect		1,499		2.2	%		34		0.2	%
Tax-exempt interest income		(105	)	(0.2	%)		(20	)	(0.1	%)
Income from life insurance		(196	)	(0.3	%)		(82	)	(0.4	%)
Merger-related expenses		250		0.4	%		174		0.8	%
Other permanent differences		(68	)	(0.1	%)		(31	)	(0.1	%)
Provision for income taxes	$	15,697		23.1	%	$	4,800		21.4	%

Schedule of Significant Components of Provision for Income Taxes

The following table presents the significant components of the provision for income taxes for the periods stated.

	For the years ended December 31,
(Dollars in thousands)	2021		2020
Current tax provision
Federal	$	12,828	$	6,437
State		946		43
Total current tax provision		13,774		6,480
Deferred tax provision (benefit)
Federal		971		(1,680	)
State		952		—
Total deferred tax provision (benefit)		1,923		(1,680	)
Provision for income taxes	$	15,697	$	4,800

Schedule of Significant Components of Deferred Taxes

The following table presents significant components of deferred tax assets and liabilities as of the dates stated.

	December 31,
(Dollars in thousands)	2021			2020
Deferred tax assets relating to:
Allowance for loan losses	$	2,470		$	2,478
Compensation differences		1,221			892
Reserve for loan sale buy backs		227			341
Acquisition accounting adjustments		3,463			255
Loan origination costs		67			81
Pass-through entities		487			252
Unrealized losses on securities available for sale and interest rate swaps		1,092			108
Other		872			191
Total deferred tax assets		9,899			4,598
Deferred tax liabilities relating to:
Premises and equipment, net		(2,885	)		(1,532	)
Core deposit and customer-based intangible assets		(1,549	)		(464	)
Mortgage servicing rights		(3,711	)		(1,488	)
Unrealized gains on other investments		(1,536	)		—
Other		(68	)		(25	)
Total deferred tax liabilities		(9,749	)		(3,509	)
Net deferred tax asset, included in other assets	$	150		$	1,089