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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following table presents the components of income tax expense of continuing operations for the periods indicated:

						Year Ended December 31,
($ in thousands)						2021						2020						2019
Current income taxes:
Federal						$	7,966					$	7,332					$	3,900
State						6,466						3,713						941
Total current income tax expense						14,432						11,045						4,841
Deferred income taxes:
Federal						4,950						(5,663)						(1,492)
State						894						(3,596)						870
Total deferred income tax expense (benefit)						5,844						(9,259)						(622)
Income tax expense						$	20,276					$	1,786					$	4,219

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the recorded income tax expense of continuing operations to the amount of taxes computed by applying the applicable statutory Federal income tax rate of 21.0% to income from continuing operations before income taxes for the years ended December 31, 2021, 2020, and 2019:

						Year Ended December 31,
						2021						2020						2019
Computed expected income tax expense at Federal statutory rate						21.0		%				21.0		%				21.0		%
Increase (decrease) resulting from:
Proportional amortization						4.3		%				24.1		%				12.6		%
Income tax credits (investment tax credits and other)						(5.5)		%				(30.6)		%				(20.0)		%
Other permanent book-tax differences						0.9		%				1.9		%				(2.4)		%
State tax expense, net of federal benefit						7.0		%				0.6		%				5.1		%
Bank owned life insurance policies						(0.7)		%				(3.6)		%				(1.7)		%
Equity compensation shortfall (windfall) tax impact						(2.2)		%				2.2		%				0.6		%
Reserve for uncertain tax positions						—		%				(0.9)		%				(1.0)		%
Other, net						(0.3)		%				(2.3)		%				0.9		%
Effective tax rates						24.5		%				12.4		%				15.1		%

Schedule of Deferred Tax Assets and Liabilities

The following table presents the tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities as of the dates indicated:

						December 31,
($ in thousands)						2021						2020
Deferred tax assets:
Allowance for loan losses						$	29,746					$	24,032
Stock-based compensation expense						1,181						2,182
Accrued expenses						6,198						4,168
Loan repurchase reserve						1,256						1,625
Federal net operating losses						172						272
State net operating losses						2,762						686
Federal income tax credits						23,045						30,225
Deferred loan fees						1,692						1,998
Amortization of intangible assets						—						1,198
Prior year state tax deduction						1,648						443
Lease liability						11,752						6,082
Other deferred tax assets						4,897						2,824
Total deferred tax assets						84,349						75,735
Deferred tax liabilities:
Unrealized gain on securities available-for-sale						(3,172)						(3,236)
Investments in partnerships						(8,857)						(8,139)
Mortgage servicing rights						(130)						(167)
Amortization of intangible assets						(47)						—
Deferred loan costs						(4,577)						(5,154)
Depreciation on premises and equipment						(4,916)						(5,618)
Right of use asset						(10,240)						(5,784)
Other deferred tax liabilities						(1,636)						(1,680)
Total deferred tax liabilities						(33,575)						(29,778)
Valuation allowance						—						—
Net deferred tax assets						$	50,774					$	45,957

Schedule of Unrecognized Tax Benefits Roll Forward

The table below summarizes the activity related to our unrecognized tax benefits for the periods indicated:

						Year Ended December 31,
($ in thousands)						2021						2020						2019
Beginning balance						$	924					$	977					$	1,227
Decrease related to prior year tax positions						(59)						(6)						(101)
Increase in current year tax positions						60						120						120
Decrease related to lapsing of statute of limitations						—						(167)						(269)
Ending balance						$	925					$	924					$	977

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