XML 62 R45.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Summary of Significant Accounting Policies |
Summary of income tax provisions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
​ | ​ | (In thousands)
Federal: |  | ​ |  |  | ​ |  |  | ​ |
Current | ​ | $ | (2,092) | ​ | $ | 4,904 | ​ | $ | 17,565
Deferred | ​ |  | (8,387) | ​ |  | 2,681 | ​ |  | 4
Total federal tax provision (benefit) | ​ |  | (10,479) | ​ |  | 7,585 | ​ |  | 17,569
State and Local: | ​ |  |  | ​ |  |  | ​ |  |
Current | ​ |  | 1,020 | ​ |  | 2,544 | ​ |  | 10,198
Deferred | ​ |  | (7,475) | ​ |  | 1,040 | ​ |  | 140
Total state and local tax provision (benefit) | ​ |  | (6,455) | ​ |  | 3,584 | ​ |  | 10,338
Total provision for income taxes | ​ | $ | (16,934) | ​ | $ | 11,169 | ​ | $ | 27,907
Schedule of Effective Income Tax Rate Reconciliation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022 |
​ | ​ | (Dollars in thousands) |
Taxes at federal statutory rate | ​ | $ | (10,136) |  | 21.0 | % | $ | 8,365 |  | 21.0 | % | $ | 22,019 |  | 21.0 | %
Increase (reduction) in taxes resulting from: | ​ |  |  |  |  | ​ |  |  |  |  | ​ |  |  |  |  | ​
State and local income tax, net of Federal income tax benefit | ​ |  | (5,099) |  | 10.6 | ​ |  | 2,831 |  | 7.1 | ​ |  | 8,167 |  | 7.8 | ​
Tax exempt income, net | ​ |  | (1,258) |  | 2.6 | ​ |  | (1,079) |  | (2.7) | ​ |  | (2,083) |  | (2.0) | ​
Other | ​ |  | (441) |  | 0.9 | ​ |  | 1,052 |  | 2.6 | ​ |  | (196) |  | (0.2) | ​
Taxes at effective rate | ​ | $ | (16,934) |  | 35.1 | % | $ | 11,169 |  | 28.0 | % | $ | 27,907 |  | 26.6 | %
Schedule of Deferred Tax Assets and Liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
​ | ​ | (In thousands)
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Allowance for credit losses on loans | ​ | $ | 12,400 | ​ | $ | 12,475
Net unrealized losses on securities available for sale* | ​ |  | 1,935 | ​ |  | 24,667
Operating lease liabilities | ​ | ​ | 14,343 | ​ | ​ | 12,680
Accrued compensation | ​ |  | 10,599 | ​ |  | 7,882
Stock based compensation | ​ |  | 2,181 | ​ |  | 3,140
Depreciation | ​ |  | 3,553 | ​ |  | 2,711
Derivative adjustments | ​ |  | 426 | ​ |  | 445
Pension and post-retirement benefits | ​ |  | 1,941 | ​ |  | 2,044
Other allowances | ​ |  | 2,619 | ​ |  | 3,609
Acquisition fair value marks | ​ | ​ | 535 | ​ | ​ | 637
Net operating losses | ​ | ​ | 15,218 | ​ | ​ | 491
Net unrealized losses on pension and post-retirement benefits* | ​ | ​ | 379 | ​ | ​ | 172
Other | ​ |  | 1,000 | ​ |  | 1,482
Deferred tax assets | ​ | ​ | 67,129 | ​ | ​ | 72,435
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Right of use assets | ​ | ​ | 14,144 | ​ | ​ | 12,287
Net unrealized gains on cash flow hedges* | ​ |  | 4,793 | ​ |  | 6,667
Deferred loan fees, net | ​ | ​ | 3,933 | ​ | ​ | 3,819
Fair value adjustments | ​ |  | 2,748 | ​ |  | 3,110
Net unrealized gains on entity specific fair value* | ​ |  | 698 | ​ |  | 747
Other | ​ | ​ | 408 | ​ | ​ | 660
Deferred tax liabilities | ​ | ​ | 26,724 | ​ | ​ | 27,290
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax asset included in other assets | ​ | $ | 40,405 | ​ | $ | 45,145
​ *Represents the amount of deferred taxes recorded in accumulated other comprehensive loss.

X
- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration