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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of components of the provision for income taxes | Significant components of the provision for income taxes are as follows for the periods presented:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Current |  |  |  |  |
Federal | $ | 42,179 |  |  | $ | 36,138 |  |  | $ | 39,507 |
State | 2,680 |  |  | 1,376 |  |  | 3,453 |
| 44,859 |  |  | 37,514 |  |  | 42,960 |
Deferred |  |  |  |  |
Federal | 7,028 |  |  | (1,187) |  |  | 1,630 |
State | (2,379) |  |  | (3,818) |  |  | 650 |
| 4,649 |  |  | (5,005) |  |  | 2,280 |
| $ | 49,508 |  |  | $ | 32,509 |  |  | $ | 45,240 |
Schedule of reconciliation of income taxes computed at the United States federal statutory tax rates | The reconciliation of income taxes computed at the United States federal statutory tax rates to the provision for income taxes is as follows, for the periods presented:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Tax at U.S. statutory rate | $ | 51,443 |  |  | $ | 37,209 |  |  | $ | 44,375 |
Increase (decrease) in taxes resulting from: |  |  |  |  |
Tax-exempt interest income | (1,750) |  |  | (1,505) |  |  | (1,832) |
BOLI income | (1,178) |  |  | (2,197) |  |  | (1,946) |
Investment tax credits | (3,950) |  |  | (1,901) |  |  | (928) |
Amortization of investment in low-income housing tax credits | 2,851 |  |  | 1,741 |  |  | 683 |
State income tax expense, net of federal benefit | (262) |  |  | (1,929) |  |  | 3,241 |
Nondeductible transaction costs | 1,060 |  |  | — |  |  | — |
Other items, net | 1,294 |  |  | 1,091 |  |  | 1,647 |
| $ | 49,508 |  |  | $ | 32,509 |  |  | $ | 45,240 |
Significant components of the Company's deferred tax assets and liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows for the periods presented:
| December 31,
| 2024 |  | 2023
Deferred tax assets |  |  |
Allowance for credit losses | $ | 53,349 |  |  | $ | 53,432 |
Loans | — |  |  | 1,631 |
Deferred compensation | 15,695 |  |  | 15,310 |
Net unrealized losses on securities | 47,199 |  |  | 51,211 |
Impairment of assets | 874 |  |  | 138 |
Tax credits | 8,781 |  |  | 4,035 |
Net operating loss carryforwards | 2 |  |  | 33 |
Investments in partnerships | 77 |  |  | 1,491 |
Lease liabilities under operating leases | 12,423 |  |  | 13,066 |
Realized losses on securities | — |  |  | 4,892 |
Other | 3,073 |  |  | 2,660 |
Total deferred tax assets | 141,473 |  |  | 147,899 |
Deferred tax liabilities |  |  |
Fixed assets | 9,927 |  |  | 11,023 |
Mortgage servicing rights | 15,841 |  |  | 21,282 |
Junior subordinated debt | 1,452 |  |  | 1,708 |
Intangibles | 3,652 |  |  | 2,447 |
Lease right-of-use asset | 11,775 |  |  | 12,399 |
Loans | 7,638 |  |  | — |
Other | 4,153 |  |  | 3,344 |
Total deferred tax liabilities | 54,438 |  |  | 52,203 |
Net deferred tax assets | $ | 87,035 |  |  | $ | 95,696 |
Summary of operating loss carryforwards | The table below presents the breakout of net operating losses as of December 31, 2023. There were no net operating losses as of December 31, 2024.
|  |  | December 31,
|  |  | 2023
Net Operating Losses |  |  |
Federal |  |  | $ | 138 |
State |  |  | — |
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest | A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest, related to federal and state income tax matters as of December 31 follows below:
| 2024 |  | 2023 |  | 2022
Balance at January 1 | $ | 399 |  |  | $ | 407 |  |  | $ | 408 |
Additions based on positions related to current period | 190 |  |  | 78 |  |  | 65 |
Reductions due to lapse of statute of limitations | (88) |  |  | (86) |  |  | (66) |
Balance at December 31 | $ | 501 |  |  | $ | 399 |  |  | $ | 407 |

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