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Income Taxes | 6 Months Ended
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Jun. 30, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes Income tax expense was as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Current income tax expense | $ | 32,345 |  |  | $ | 32,919 |  |  | $ | 61,807 |  |  | $ | 63,236 |
Deferred income tax expense (benefit) | (2,728) |  |  | (3,267) |  |  | (4,017) |  |  | (7,713) |
Income tax expense, as reported | $ | 29,617 |  |  | $ | 29,652 |  |  | $ | 57,790 |  |  | $ | 55,523 |
Effective tax rate | 15.9 | % |  | 16.9 | % |  | 15.8 | % |  | 16.5 | %
We had a net deferred tax asset totaling $349.6 million at June 30, 2025 and $375.2 million at December 31, 2024. No valuation allowance for deferred tax assets was recorded as of those dates as management believes it is more likely than not that all of the deferred tax assets will be realized against deferred tax liabilities and projected future taxable income. The effective income tax rates differed from the U.S. statutory federal income tax rates of 21% during the comparable periods primarily due to the effect of tax-exempt income from securities, loans and life insurance policies and the income tax effects associated with stock-based compensation, among other things. There were no unrecognized tax benefits during any of the reported periods. Interest and/or penalties related to income taxes are reported as a component of income tax expense. Such amounts were not significant during the reported periods. We file income tax returns in the U.S. federal jurisdiction. We are no longer subject to U.S. federal income tax examinations by tax authorities for years before 2021.

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