INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense are as follows:


($ in thousands)	Years Ended December 31,
	2024		2023		2022
Current:
Federal	$	14,641	$	11,754	$	12,071
State	2,926		2,587		2,759
Deferred	3,204		7,006		940
Total income tax expense	$	20,771	$	21,347	$	15,770

Schedule of Effective Income Tax Rate Reconciliation

The Company's income tax expense differs from the amounts computed by applying the federal income tax statutory rates to income before income taxes. A reconciliation of the differences is as follows:


($ in thousands)	Years Ended December 31,
	2024				2023				2022
	Amount		%		Amount		%		Amount		%
Income taxes at statutory rate	$	20,573	21	%	$	20,289	21	%	$	16,525	21	%
Tax-exempt income, net	(1,196)		(1)	%	(1,696)		(2)	%	(2,369)		(3)	%
Nondeductible expenses	183		—	%	144		—	%	391		—	%
State income tax, net of federal tax effect	3,492		4	%	3,064		4	%	2,251		3	%
Federal tax credits, net	(715)		(1)	%	(715)		(1)	%	(715)		(1)	%
Other, net	(1,566)		(2)	%	261		—	%	(313)		—	%
	$	20,771	21	%	$	21,347	22	%	$	15,770	20	%

Schedule of Deferred Tax Assets and Liabilities

The components of deferred income taxes included in the consolidated financial statements were as follows:


($ in thousands)	December 31,
	2024		2023
Deferred tax assets:
Allowance for credit losses	$	14,060	$	13,276
Net operating loss carryover	23,753		27,256
Nonaccrual loan interest	919		826
Other real estate	659		1,092
Deferred compensation	1,126		1,161
Loan purchase accounting	4,461		6,438
Unrealized loss on available-for-sale securities	38,649		38,776
Lease liability	1,958		2,037
Other	4,588		5,014
	90,173		95,876
Deferred tax liabilities:
Securities	(271)		(560)
Premises and equipment	(9,048)		(9,017)
Core deposit intangible	(14,132)		(16,094)
Goodwill	(2,971)		(2,651)
Right-of-use asset	(1,777)		(1,929)
Other	(1,142)		(1,461)
	(29,341)		(31,712)
Net deferred tax asset/(liability), included in other assets	$	60,832	$	64,164