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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2025

Income Tax Disclosure [Abstract]

Summary of Components of Provision (Benefit) for Income Taxes

The following is a summary of the components of the provision for income taxes for the three and six months ended June 30, 2025 and 2024:

			For the Three Months Ended June 30,												For the Six Months Ended June 30,
			2025						2024						2025						2024
			(In thousands)
Current:
Federal			$	28,777					$	24,769					$	49,995					$	48,626
State			5,818						5,042						10,108						9,899
Total current			34,595						29,811						60,103						58,525
Deferred:
Federal			(838)						1,720						4,517						3,024
State			(169)						350						913						616
Total deferred			(1,007)						2,070						5,430						3,640
Income tax expense			$	33,588					$	31,881					$	65,533					$	62,165

Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate

The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three and six months ended June 30, 2025 and 2024:

			Three Months Ended June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
Statutory federal income tax rate			21.00		%				21.00		%				21.00		%				21.00		%
Effect of non-taxable interest income			(1.08)						(1.24)						(1.10)						(0.84)
Stock compensation			0.59						0.78						0.66						0.56
State income taxes, net of federal benefit			2.31						2.47						2.30						2.64
Other			(0.72)						0.89						(0.95)						0.20
Effective income tax rate			22.10		%				23.90		%				21.91		%				23.56		%

Differences between Tax Basis of Assets and Liabilities

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:

			June 30, 2025						December 31, 2024
			(In thousands)
Deferred tax assets:
Allowance for credit losses			$	78,068					$	76,221
Deferred compensation			4,752						6,783
Stock compensation			3,213						4,981
Non-accrual interest income			2,138						1,798
Real estate owned			311						674
Unrealized loss on investment securities, available-for-sale			72,851						79,847
Loan discounts			2,644						3,323
Investments			23,233						26,042
Accelerated depreciation on premises and equipment			1,839						664
Other			14,616						14,634
Gross deferred tax assets			203,665						214,967
Deferred tax liabilities:
Tax basis on acquisitions			9,212						7,439
Core deposit intangibles			8,117						8,997
FHLB dividends			1,933						1,919
Other			10,080						9,915
Gross deferred tax liabilities			29,342						28,270
Net deferred tax assets			$	174,323					$	186,697

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- References

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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://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

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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://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

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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

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

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-Section 50
-Paragraph 12
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