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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The provision for income taxes is as follows:
|  |  | For the Year Ended December 31,
(In thousands) |  |  | 2024 |  | 2023 |  | 2022
Current |  |  |  |  |  |  |
Federal |  |  | $ | 19,415 |  |  | $ | 14,716 |  |  | $ | 2,770 |
State |  |  | 5,887 |  |  | 6,061 |  |  | (1,266) |
Deferred |  |  |  |  |  |  |
Federal |  |  | 8,882 |  |  | 9,524 |  |  | 23,710 |
State |  |  | 670 |  |  | (82) |  |  | 6,415 |
|  |  | $ | 34,854 |  |  | $ | 30,219 |  |  | $ | 31,629 |
Schedule of Effective Income Tax Rate Reconciliation | The difference between the total expected tax expense (computed by applying the U.S. Federal tax rate of 21% to pretax income) and the reported income tax provision relating to income before income taxes is as follows:
|  |  | For the Year Ended December 31,
(In thousands) |  |  | 2024 |  | 2023 |  | 2022
Tax rate applied to income before income taxes |  |  | $ | 32,727 |  |  | $ | 28,193 |  |  | $ | 29,009 |
Increase (decrease) resulting from the effects of: |  |  |  |  |  |  |
Nondeductible acquisition costs |  |  | — |  |  | 300 |  |  | 924 |
Tax exempt interest on loans and securities |  |  | (852) |  |  | (639) |  |  | (406) |
Income from bank owned life insurance |  |  | (2,108) |  |  | (2,217) |  |  | (935) |
State income taxes |  |  | (1,377) |  |  | (1,256) |  |  | (1,081) |
Tax credit investments |  |  | (641) |  |  | (402) |  |  | (406) |
Stock compensation |  |  | 66 |  |  | (446) |  |  | (992) |
Executive compensation disallowance |  |  | 111 |  |  | 638 |  |  | 402 |
Other |  |  | 371 |  |  | 69 |  |  | (36) |
Federal tax provision |  |  | 28,297 |  |  | 24,240 |  |  | 26,479 |
State tax provision |  |  | 6,557 |  |  | 5,979 |  |  | 5,150 |
Total income tax provision |  |  | $ | 34,854 |  |  | $ | 30,219 |  |  | $ | 31,629 |
Schedule of Deferred Tax Assets and Liabilities | The following is a summary of the significant components of the Company's deferred tax assets and liabilities as of:
|  |  | December 31,
(In thousands) |  |  | 2024 |  | 2023
Allowance for credit losses |  |  | $ | 38,093 |  |  | $ | 40,710 |
Other real estate owned |  |  | 220 |  |  | 91 |
Accrued stock compensation |  |  | 4,296 |  |  | 4,556 |
Federal tax loss carryforward |  |  | 2,364 |  |  | 2,660 |
State tax loss carryforward |  |  | 1,160 |  |  | 1,084 |
Lease liabilities |  |  | 11,334 |  |  | 12,811 |
Net unrealized securities losses |  |  | 49,446 |  |  | 50,817 |
Deferred compensation |  |  | 3,118 |  |  | 2,828 |
Accrued interest and fee income |  |  | 22,244 |  |  | 34,665 |
Other |  |  | 4,951 |  |  | 7,027 |
Gross deferred tax assets |  |  | 137,226 |  |  | 157,249 |
Less: Valuation allowance |  |  | — |  |  | — |
Deferred tax assets net of valuation allowance |  |  | 137,226 |  |  | 157,249 |
Core deposit intangible |  |  | (18,040) |  |  | (24,301) |
Net unrealized derivatives gains |  |  | 9 |  |  | (670) |
Premises and equipment |  |  | (841) |  |  | (1,771) |
Right-of-use assets |  |  | (10,375) |  |  | (11,854) |
Other |  |  | (4,990) |  |  | (5,421) |
Gross deferred tax liabilities |  |  | (34,237) |  |  | (44,017) |
Net deferred tax assets |  |  | $ | 102,989 |  |  | $ | 113,232 |
Schedule of Income Tax Examinations | The following are the major tax jurisdictions in which the Company operates and the earliest tax year, exclusive of the impact of the net operating loss carryforwards, subject to examination:
Jurisdiction | Tax Year
United States of America | 2021
Florida | 2021

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- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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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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- 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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- Definition Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15 + Details
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