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Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

15.INCOME TAXES

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Components of income tax expense are as follows:

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​

​

​

​

​

​

​

​

​

​

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Three Months Ended

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Nine Months Ended

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​

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September 30, 

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September 30, 

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​

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2025

    

2024

    

2025

    

2024

    

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(in thousands)

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Current:

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​

​

​

​

​

​

​

​

​

​

​

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Federal

​

$

4,005

​

$

4,567

​

$

13,068

​

$

13,791

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State

​

 

90

​

 

320

​

 

695

​

 

975

​

​

​

 

4,095

​

 

4,887

​

 

13,763

​

 

14,766

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Deferred:

​

​

​

​

​

​

​

​

​

​

​

​

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Federal

​

 

1,391

​

 

(712)

​

 

1,207

​

 

(1,678)

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State

​

 

400

​

 

(52)

​

 

446

​

 

(156)

​

​

​

 

1,791

​

 

(764)

​

 

1,653

​

 

(1,834)

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Income tax expense

​

$

5,886

​

$

4,123

​

$

15,416

​

$

12,932

​

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The effective income tax rates for our income tax expense for the three and nine months ended September 30, 2025 and 2024 are less than the federal statutory rate, primarily due to the portion of income not subject to income taxes.

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Our 2020 through 2024 tax years remain open to examination by tax authorities, and lower-tier partnership income tax returns for the tax years ended December 31, 2020 and 2021 are being audited by the Internal Revenue Service.