XML 41 R31.htm IDEA: XBRL DOCUMENT
v3.22.1

Income Taxes (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Allocation of Federal and State Income Taxes between Current and Deferred Portions | An allocation of federal and state income taxes between current and deferred portions is presented below:
|  | Three Months Ended March 31,
|  | 2022 |  |  | 2021 |  |  |
Current |  | $ | — |  |  | $ | 5,949 |  |  |
Deferred |  | 9,313 |  |  | 9,639 |  |  |
Total |  | $ | 9,313 |  |  | $ | 15,588 |  |  |
Schedule of Reconciliation of Income Taxes Computed at the United States Federal Statutory Tax Rates to the Provision for Income Taxes | The following table presents a reconciliation of federal income taxes at the statutory federal rate of 21% to the Company's effective tax rates for the three months ended March 31, 2022 and 2021:
|  | Three Months Ended March 31,
|  | 2022 |  |  | 2021 |  |  |
Federal taxes calculated at statutory rate |  | $ | 9,355 |  | 21.0 | % |  | $ | 14,377 |  | 21.0 | % |  |  |
Increase (decrease) resulting from: |  |  |  |  |  |  |  |  |
State taxes, net of federal benefit |  | 951 |  | 2.1 | % |  | 1,750 |  | 2.6 | % |  |  |
(Benefit) expense from equity based compensation |  | (291) |  | (0.7) | % |  | (221) |  | (0.3) | % |  |  |
Municipal interest income, net of interest disallowance |  | (444) |  | (1.0) | % |  | (424) |  | (0.6) | % |  |  |
Bank-owned life insurance |  | (74) |  | (0.2) | % |  | (84) |  | (0.1) | % |  |  |
Section 162(m) limitation |  | 122 |  | 0.3 | % |  | 227 |  | 0.3 | % |  |  |
Other |  | (306) |  | (0.6) | % |  | (37) |  | (0.1) | % |  |  |
Income tax expense, as reported |  | $ | 9,313 |  | 20.9 | % |  | $ | 15,588 |  | 22.8 | % |  |  |
Schedule of Net Deferred Tax (Liabilities) Assets | The components of the net deferred tax (liabilities) assets at March 31, 2022 and December 31, 2021, are as follows:
|  | March 31, |  | December 31,
|  | 2022 |  |  | 2021 |
Deferred tax assets: |  |  |  |
Allowance for credit losses |  | $ | 34,146 |  |  | $ | 35,233 |
Operating lease liabilities |  | 12,251 |  |  | 12,478 |
Net operating loss |  | 3,644 |  |  | 1,370 |
Amortization of core deposit intangibles |  | 53 |  |  | — |
Deferred compensation |  | 2,243 |  |  | 5,484 |
Unrealized loss on debt securities |  | 26,158 |  |  | — |
Unrealized loss on cash flow hedges |  | — |  |  | 205 |
Other assets |  | 7,684 |  |  | 8,301 |
Subtotal |  | 86,179 |  |  | 63,071 |
Deferred tax liabilities: |  |  |  |
FHLB stock dividends |  | $ | (484) |  |  | $ | (484) |
Operating leases - right of use assets |  | (11,111) |  |  | (11,287) |
Depreciation |  | (7,930) |  |  | (7,938) |
Amortization of core deposit intangibles |  | — |  |  | (116) |
Unrealized gain on equity securities |  | (2,167) |  |  | (2,407) |
Unrealized gain on cash flow hedges |  | (68) |  |  | — |
Unrealized gain on debt securities |  | — |  |  | (1,324) |
Mortgage servicing rights |  | (37,696) |  |  | (30,098) |
Goodwill |  | (14,276) |  |  | (13,743) |
Other liabilities |  | (2,699) |  |  | (2,494) |
Subtotal |  | (76,431) |  |  | (69,891) |
Net deferred tax assets (liabilities) |  | $ | 9,748 |  |  | $ | (6,820) |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration