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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
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, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Federal statutory tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
Net tax-exempt interest income on securities and loans of state and political subdivisions |  |  | (2.6 | %) |  |  | (1.8 | %) |  |  | (4.2 | %)
State income taxes, net of federal tax effect |  |  | 3.1 | % |  |  | 2.3 | % |  |  | 1.9 | %
Bank-owned life insurance |  |  | (1.0 | %) |  |  | (0.6 | %) |  |  | (1.1 | %)
General business credits |  |  | (3.0 | %) |  |  | (1.9 | %) |  |  | (3.7 | %)
All other—net |  |  | 1.2 | % |  |  | 0.7 | % |  |  | 2.0 | %
Effective tax rate |  |  | 18.7 | % |  |  | 19.7 | % |  |  | 15.9 | %
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) |  | 2022 |  |  | 2021 |  |  | 2020 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 31,560 |  |  | $ | 33,042 |  |  | $ | 27,924 |
State |  |  | 8,239 |  |  |  | 7,655 |  |  |  | 5,629 |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  | 3,560 |  |  |  | 17,679 |  |  |  | (8,418 | )
State |  |  | 929 |  |  |  | 1,213 |  |  |  | (2,100 | )
Total |  | $ | 44,288 |  |  | $ | 59,589 |  |  | $ | 23,035 |
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) |  | 2022 |  |  | 2021 |  |  | 2020 |
Securities and defined benefit pension plan unrecognized items |  | $ | (82,295 | ) |  | $ | (11,322 | ) |  | $ | 9,730 |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities consist of the following:
|  | December 31, |
(in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Deferred tax assets: |  |  |  |  |  |  |  |  |
Allowance for credit losses |  | $ | 28,535 |  |  | $ | 29,208 |  |  | $ | 44,859 |
Compensation and benefits |  |  | — |  |  |  | 1,154 |  |  |  | 6,894 |
Security gains |  |  | 1,472 |  |  |  | 1,565 |  |  |  | 2,113 |
Non-accrual interest income |  |  | 848 |  |  |  | 766 |  |  |  | 1,135 |
Partnership adjustments |  |  | 338 |  |  |  | — |  |  |  | — |
Net operating loss carryforwards |  |  | 5,685 |  |  |  | 6,480 |  |  |  | 5,472 |
Fair value adjustments on securities available-for-sale |  |  | 83,734 |  |  |  | 1,484 |  |  |  | — |
Lease accrual |  |  | 10,410 |  |  |  | 11,399 |  |  |  | 13,530 |
Other |  |  | 3,732 |  |  |  | 4,617 |  |  |  | 5,441 |
Gross deferred tax assets |  |  | 134,754 |  |  |  | 56,673 |  |  |  | 79,444 |
Deferred tax liabilities: |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | (4,786 | ) |  |  | (3,748 | ) |  |  | (3,414 | )
Accretion on securities |  |  | (383 | ) |  |  | (251 | ) |  |  | (274 | )
Deferred fees and costs |  |  | (3,289 | ) |  |  | (2,368 | ) |  |  | (3,018 | )
Purchase accounting adjustments |  |  | (9,594 | ) |  |  | (9,996 | ) |  |  | (8,669 | )
Compensation and benefits |  |  | (47 | ) |  |  | — |  |  |  | — |
Fair value adjustments on securities available-for-sale |  |  | — |  |  |  | — |  |  |  | (14,865 | )
Partnership adjustments |  |  | — |  |  |  | (127 | ) |  |  | (555 | )
Lease - right of use assets |  |  | (9,391 | ) |  |  | (10,342 | ) |  |  | (12,438 | )
Other |  |  | (763 | ) |  |  | (1,144 | ) |  |  | (168 | )
Gross deferred tax liabilities |  |  | (28,253 | ) |  |  | (27,976 | ) |  |  | (43,401 | )
Net deferred tax assets |  | $ | 106,501 |  |  | $ | 28,697 |  |  | $ | 36,043 |
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) |  | 2022 |  |  | 2021 |  |  | 2020 |
Balance at beginning of year |  | $ | 226 |  |  | $ | 324 |  |  | $ | 434 |
Additions based on tax positions related to the current year |  |  | — |  |  |  | 3 |  |  |  | — |
Reductions due to the statute of limitations |  |  | (68 | ) |  |  | (101 | ) |  |  | (110 | )
Balance at end of year |  | $ | 158 |  |  | $ | 226 |  |  | $ | 324 |

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