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Income Taxes (Tables) | 3 Months Ended
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Mar. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes | The provision for income taxes is comprised of the following components for the periods indicated below:
|  |  | Three Months Ended March 31,
(In thousands) |  |  |  |  | 2025 |  | 2024
Income taxes currently payable |  |  |  |  | $ | 6,899 |  |  | $ | 5,755 |
Deferred income taxes |  |  |  |  | (1,087) |  |  | 379 |
Provision for income taxes |  |  |  |  | $ | 5,812 |  |  | $ | 6,134 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows:
| March 31, |  | December 31,
(In thousands) | 2025 |  | 2024
Deferred tax assets: |  |  |
Loans acquired | $ | 1,884 |  |  | $ | 2,141 |
Allowance for credit losses | 59,152 |  |  | 55,196 |
Valuation of foreclosed assets | 374 |  |  | 374 |
Tax NOLs from acquisition | 10,210 |  |  | 9,945 |
Deferred compensation payable | 3,978 |  |  | 3,989 |
Accrued equity and other compensation | 5,493 |  |  | 9,323 |
Acquired securities | 7,504 |  |  | 7,504 |
Right-of-use lease liability | 15,577 |  |  | 16,416 |
Unrealized loss on AFS securities | 125,565 |  |  | 128,873 |
Allowance for unfunded commitments | 6,069 |  |  | 6,069 |
Other | 7,154 |  |  | 7,163 |
Gross deferred tax assets | 242,960 |  |  | 246,993 |
Deferred tax liabilities: |  |  |
Goodwill and other intangible amortization | (37,575) |  |  | (38,139) |
Accumulated depreciation | (24,529) |  |  | (24,489) |
Right-of-use lease asset | (15,058) |  |  | (15,920) |
Unrealized gain on swaps | (20,624) |  |  | (25,174) |
Other | (12,842) |  |  | (13,268) |
Gross deferred tax liabilities | (110,628) |  |  | (116,990) |
Net deferred tax asset | $ | 132,332 |  |  | $ | 130,003 |
Schedule of Reconciliation of Income Tax Expense | A reconciliation of income tax expense at the statutory rate to the Company’s actual income tax expense is shown for the periods indicated below:
|  |  | Three Months Ended March 31,
(In thousands) |  |  |  |  | 2025 |  | 2024
Computed at the statutory rate (21%) |  |  |  |  | $ | 8,022 |  |  | $ | 9,451 |
Increase (decrease) in taxes resulting from: |  |  |  |  |  |  |
State income taxes, net of federal tax benefit |  |  |  |  | (272) |  |  | (425) |
Discrete items related to share-based compensation |  |  |  |  | 195 |  |  | 454 |
Tax exempt interest income |  |  |  |  | (3,808) |  |  | (3,867) |
Tax exempt earnings on BOLI |  |  |  |  | (796) |  |  | (840) |
Federal tax credits |  |  |  |  | (647) |  |  | (560) |
Other differences, net |  |  |  |  | 3,118 |  |  | 1,921 |
Actual tax provision |  |  |  |  | $ | 5,812 |  |  | $ | 6,134 |

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- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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