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Income Taxes
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
11. Income Taxes
The following is a summary of the components of the provision for income taxes for the three months ended March 31, 2025 and 2024:
For the Three Months Ended March 31,
20252024
(In thousands)
Current:
Federal$21,218 $23,327 
State4,290 5,390 
Total current25,508 28,717 
Deferred:
Federal5,354 1,273 
State1,083 294 
Total deferred6,437 1,567 
Income tax expense$31,945 $30,284 
The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three months ended March 31, 2025 and 2024:
Three Months Ended March 31,
20252024
Statutory federal income tax rate21.00 %21.00 %
Effect of non-taxable interest income(1.12)(0.43)
Stock compensation0.73 0.35 
State income taxes, net of federal benefit2.29 2.81 
Executive officer compensation & other(1.19)(0.51)
Effective income tax rate21.71 %23.22 %
The types of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows:
March 31,
2025		December 31,
2024
(In thousands)
Deferred tax assets:
Allowance for credit losses$77,614 $76,221 
Deferred compensation3,593 6,783 
Stock compensation3,579 4,981 
Non-accrual interest income1,964 1,798 
Real estate owned311 674 
Unrealized loss on investment securities, available-for-sale69,594 79,847 
Loan discounts2,944 3,323 
Investments23,605 26,042 
Accelerated depreciation on premises and equipment1,190 664 
Other14,486 14,634 
Gross deferred tax assets198,880 214,967 
Deferred tax liabilities:
Tax basis on acquisitions8,326 7,439 
Core deposit intangibles8,555 8,997 
FHLB dividends1,932 1,919 
Other9,947 9,915 
Gross deferred tax liabilities28,760 28,270 
Net deferred tax assets$170,120 $186,697 
The Company files income tax returns in the U.S. federal jurisdiction. The Company's income tax returns are open and subject to examinations from the 2021 tax year and forward. The Company's various state income tax returns are generally open from the 2021 and later tax return years based on individual state statute of limitations.