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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Notes Tables |
Summary of income tax provisions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
​ | ​ | (In thousands)
Federal: |  | ​ |  |  | ​ |  |  | ​ |
Current | ​ | $ | 17,565 | ​ | $ | 21,206 | ​ | $ | 14,178
Deferred | ​ |  | 4 | ​ |  | (1,128) | ​ |  | (4,990)
Total federal tax provision | ​ |  | 17,569 | ​ |  | 20,078 | ​ |  | 9,188
State and Local: | ​ |  |  | ​ |  |  | ​ |  |
Current | ​ |  | 10,198 | ​ |  | 8,004 | ​ |  | 967
Deferred | ​ |  | 140 | ​ |  | (597) | ​ |  | 353
Total state and local tax provision | ​ |  | 10,338 | ​ |  | 7,407 | ​ |  | 1,320
Total provision for income taxes | ​ | $ | 27,907 | ​ | $ | 27,485 | ​ | $ | 10,508
​
Schedule of Effective Income Tax Rate Reconciliation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020 |
​ | ​ | (Dollars in thousands) |
Taxes at federal statutory rate | ​ | $ | 22,019 |  | 21.0 | % | $ | 22,948 |  | 21.0 | % | $ | 9,489 |  | 21.0 | %
Increase (reduction) in taxes resulting from: | ​ |  |  |  |  | ​ |  |  |  |  | ​ |  |  |  |  | ​
State and local income tax, net of Federal income tax benefit | ​ |  | 8,167 |  | 7.8 | ​ |  | 6,865 |  | 6.3 | ​ |  | 1,043 |  | 2.3 | ​
Tax exempt income, net | ​ |  | (2,083) |  | (2.0) | ​ |  | (1,150) |  | (1.0) | ​ |  | (875) |  | (1.9) | ​
Nondeductible merger expense | ​ | ​ | — | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 543 | ​ | 1.2 | ​
Other | ​ |  | (196) |  | (0.2) | ​ |  | (1,178) |  | (1.1) | ​ |  | 308 |  | 0.7 | ​
Taxes at effective rate | ​ | $ | 27,907 |  | 26.6 | % | $ | 27,485 |  | 25.2 | % | $ | 10,508 |  | 23.3 | %
​
Schedule of Deferred Tax Assets and Liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | (In thousands)
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Allowance for credit losses on loans | ​ | $ | 12,528 | ​ | $ | 11,532
Net unrealized losses on securities available for sale* | ​ |  | 28,418 | ​ |  | 2,917
Operating lease liabilities | ​ | ​ | 14,289 | ​ | ​ | 16,817
Accrued compensation | ​ |  | 8,709 | ​ |  | 9,620
Stock based compensation | ​ |  | 3,171 | ​ |  | 3,103
Depreciation | ​ |  | 2,462 | ​ |  | 2,160
Derivative adjustments | ​ |  | 2,030 | ​ |  | 349
Pension and post-retirement benefits | ​ |  | 2,126 | ​ |  | 2,184
Other allowances | ​ |  | 1,185 | ​ |  | 643
Acquisition fair value marks | ​ | ​ | 960 | ​ | ​ | 1,373
Net operating losses | ​ | ​ | 257 | ​ | ​ | 810
Net unrealized losses on pension and post-retirement benefits* | ​ | ​ | 124 | ​ | ​ | 596
Net unrealized losses on cash flow hedges* | ​ | ​ | - | ​ | ​ | 653
Other | ​ |  | 989 | ​ |  | 1,360
Deferred tax assets | ​ | ​ | 77,248 | ​ | ​ | 54,117
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Right of use assets | ​ | ​ | 13,410 | ​ | ​ | 15,589
Net unrealized gains on cash flow hedges* | ​ |  | 11,429 | ​ |  | -
Deferred loan fees, net | ​ | ​ | 3,930 | ​ | ​ | 4,253
Fair value adjustments | ​ |  | 2,314 | ​ |  | 648
Net unrealized gains on entity specific fair value* | ​ |  | 672 | ​ |  | 1,058
Other | ​ | ​ | 24 | ​ | ​ | 703
Deferred tax liabilities | ​ | ​ | 31,779 | ​ | ​ | 22,251
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax asset included in other assets | ​ | $ | 45,469 | ​ | $ | 31,866
​

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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