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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Notes Tables |
Summary of income tax provisions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
​ | ​ | (In thousands)
Federal: |  | ​ |  |  | ​ |  |  | ​ |
Current | ​ | $ | 4,904 | ​ | $ | 17,565 | ​ | $ | 21,206
Deferred | ​ |  | 2,681 | ​ |  | 4 | ​ |  | (1,128)
Total federal tax provision | ​ |  | 7,585 | ​ |  | 17,569 | ​ |  | 20,078
State and Local: | ​ |  |  | ​ |  |  | ​ |  |
Current | ​ |  | 2,544 | ​ |  | 10,198 | ​ |  | 8,004
Deferred | ​ |  | 1,040 | ​ |  | 140 | ​ |  | (597)
Total state and local tax provision | ​ |  | 3,584 | ​ |  | 10,338 | ​ |  | 7,407
Total provision for income taxes | ​ | $ | 11,169 | ​ | $ | 27,907 | ​ | $ | 27,485
Schedule of Effective Income Tax Rate Reconciliation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |
​ | ​ | (Dollars in thousands) |
Taxes at federal statutory rate | ​ | $ | 8,365 |  | 21.0 | % | $ | 22,019 |  | 21.0 | % | $ | 22,948 |  | 21.0 | %
Increase (reduction) in taxes resulting from: | ​ |  |  |  |  | ​ |  |  |  |  | ​ |  |  |  |  | ​
State and local income tax, net of Federal income tax benefit | ​ |  | 2,831 |  | 7.1 | ​ |  | 8,167 |  | 7.8 | ​ |  | 6,865 |  | 6.3 | ​
Tax exempt income, net | ​ |  | (1,079) |  | (2.7) | ​ |  | (2,083) |  | (2.0) | ​ |  | (1,150) |  | (1.0) | ​
Other | ​ |  | 1,052 |  | 2.6 | ​ |  | (196) |  | (0.2) | ​ |  | (1,178) |  | (1.1) | ​
Taxes at effective rate | ​ | $ | 11,169 |  | 28.0 | % | $ | 27,907 |  | 26.6 | % | $ | 27,485 |  | 25.2 | %
Schedule of Deferred Tax Assets and Liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
​ | ​ | (In thousands)
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Allowance for credit losses on loans | ​ | $ | 12,475 | ​ | $ | 12,528
Net unrealized losses on securities available for sale* | ​ |  | 24,667 | ​ |  | 28,418
Operating lease liabilities | ​ | ​ | 12,680 | ​ | ​ | 14,289
Accrued compensation | ​ |  | 7,882 | ​ |  | 8,709
Stock based compensation | ​ |  | 3,140 | ​ |  | 3,171
Depreciation | ​ |  | 2,711 | ​ |  | 2,462
Derivative adjustments | ​ |  | 445 | ​ |  | 2,030
Pension and post-retirement benefits | ​ |  | 2,044 | ​ |  | 2,126
Other allowances | ​ |  | 3,609 | ​ |  | 1,185
Acquisition fair value marks | ​ | ​ | 637 | ​ | ​ | 960
Net operating losses | ​ | ​ | 491 | ​ | ​ | 257
Net unrealized losses on pension and post-retirement benefits* | ​ | ​ | 172 | ​ | ​ | 124
Other | ​ |  | 1,482 | ​ |  | 989
Deferred tax assets | ​ | ​ | 72,435 | ​ | ​ | 77,248
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Right of use assets | ​ | ​ | 12,287 | ​ | ​ | 13,410
Net unrealized gains on cash flow hedges* | ​ |  | 6,667 | ​ |  | 11,429
Deferred loan fees, net | ​ | ​ | 3,819 | ​ | ​ | 3,930
Fair value adjustments | ​ |  | 3,110 | ​ |  | 2,314
Net unrealized gains on entity specific fair value* | ​ |  | 747 | ​ |  | 672
Other | ​ | ​ | 660 | ​ | ​ | 24
Deferred tax liabilities | ​ | ​ | 27,290 | ​ | ​ | 31,779
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax asset included in other assets | ​ | $ | 45,145 | ​ | $ | 45,469

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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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
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