Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes for the years ended December 31 is comprised of the following components:

(In thousands)	2024		2023		2022
Income taxes currently payable	$	21,397	$	28,006	$	35,215
Deferred income taxes	(2,782)		(2,460)		14,933
Provision for income taxes	$	18,615	$	25,546	$	50,148

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows as of December 31, 2024 and 2023:

(In thousands)	2024		2023
Deferred tax assets:
Loans acquired	$	2,141	$	3,644
Allowance for credit losses	55,196		53,445
Valuation of foreclosed assets	374		480
Tax NOLs from acquisition	9,945		9,643
Deferred compensation payable	3,989		3,355
Accrued equity and other compensation	9,323		8,048
Acquired securities	7,504		7,569
Right-of-use lease liability	16,416		16,501
Unrealized loss on AFS securities	128,873		143,624
Allowance for unfunded commitments	6,069		6,148
Other	7,163		7,627
Gross deferred tax assets	246,993		260,084
Deferred tax liabilities:
Goodwill and other intangible amortization	(38,139)		(41,174)
Accumulated depreciation	(24,489)		(24,632)
Right-of-use lease asset	(15,920)		(16,136)
Unrealized gain on swaps	(25,174)		(25,371)
Other	(13,268)		(10,995)
Gross deferred tax liabilities	(116,990)		(118,308)
Net deferred tax asset	$	130,003	$	141,776

Schedule of Income Tax Expense

A reconciliation of income tax expense at the statutory rate to the Company’s actual income tax expense is shown below for the years ended December 31: 

(In thousands)	2024		2023		2022
Computed at the statutory rate	$	35,974	$	42,127	$	64,378
Increase (decrease) in taxes resulting from:
State income taxes, net of federal tax benefit	(165)		(983)		3,249
Discrete items related to share-based compensation	468		596		(74)
Tax exempt interest income	(15,330)		(15,357)		(14,484)
Tax exempt earnings on bank owned life insurance	(3,136)		(2,607)		(1,918)
Federal tax credits	(500)		(218)		(1,708)
Other differences, net	1,304		1,988		705
Actual tax provision	$	18,615	$	25,546	$	50,148