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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Reconciliation from Federal Statutory Income Tax Rate to Effective Tax Rate

Reconciliation from the federal statutory income tax rate to the effective tax rate is as follows:

		For the Years Ended December 31,
		2021				2020				2019
Federal statutory tax rate			21.0	%			21.0	%			21.0	%
Net tax-exempt interest income on securities and loans of state and    political subdivisions			(1.8	%)			(4.2	%)			(3.3	%)
State income taxes, net of federal tax effect			2.3	%			1.9	%			1.7	%
Bank-owned life insurance			(0.6	%)			(1.1	%)			(0.6	%)
General business credits			(1.9	%)			(3.7	%)			(2.2	%)
All other—net			0.7	%			2.0	%			1.2	%
Effective tax rate			19.7	%			15.9	%			17.8	%

Provision for Income Taxes Applicable to Income Before Taxes

The provision for income taxes applicable to income before taxes consists of the following:

		For the Years Ended December 31,
(in thousands)		2021				2020				2019
Current:
Federal		$	33,042			$	27,924			$	22,540
State			7,655				5,629				3,977
Deferred:
Federal			17,679				(8,418	)			7,736
State			1,213				(2,100	)			88
Total		$	59,589			$	23,035			$	34,341

Schedule of Income Tax Amounts were Recorded in Shareholder's Equity as Elements of Other Comprehensive Income

The following income tax amounts were recorded in shareholders’ equity as elements of other comprehensive income:

(in thousands)		2021				2020				2019
Securities and defined benefit pension plan unrecognized items		$	(11,322	)		$	9,730			$	11,570

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consist of the following:

		December 31,
(in thousands)		2021				2020				2019
Deferred tax assets:
Allowance for loan losses		$	29,208			$	44,859			$	12,788
Compensation and benefits			1,154				6,894				7,144
Security gains			1,565				2,113				3,031
Non-accrual interest income			766				1,135				1,297
Tax credit carryforwards			—				—				149
Net operating loss carryforwards			6,480				5,472				6,923
Fair value adjustments on securities available-for-sale			1,484				—				—
Lease accrual			11,399				13,530				13,787
Other			4,617				5,441				2,314
Gross deferred tax assets			56,673				79,444				47,433
Deferred tax liabilities:
Depreciation and amortization			(3,748	)			(3,414	)			(4,014	)
Accretion on securities			(251	)			(274	)			(339	)
Deferred fees and costs			(2,368	)			(3,018	)			(2,388	)
Purchase accounting adjustments			(9,996	)			(8,669	)			(2,787	)
Fair value adjustments on securities available-for-sale			—				(14,865	)			(5,749	)
Partnership adjustments			(127	)			(555	)			(521	)
Lease - right of use assets			(10,342	)			(12,438	)			(13,064	)
Other			(1,144	)			(168	)			(40	)
Gross deferred tax liabilities			(27,976	)			(43,401	)			(28,902	)
Net deferred tax assets		$	28,697			$	36,043			$	18,531

Schedule of Unrecognized Tax Benefits (Excluding Interest and Federal Income Tax Benefit of Unrecognized State Tax Benefits)

A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and the federal income tax benefit of unrecognized state tax benefits) is as follows:

		For the Years Ended December 31,
(in thousands)		2021				2020				2019
Balance at beginning of year		$	324			$	434			$	465
Additions based on tax positions related to the current year			3				—				58
Reductions for tax positions of prior years			—				—				—
Reductions due to the statute of limitations			(101	)			(110	)			(89	)
Settlements			—				—				—
Balance at end of year		$	226			$	324			$	434

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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.

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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns.

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Tabular disclosure of other comprehensive income loss tax portion.

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