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Income Tax (Tables) | 6 Months Ended
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Jun. 30, 2020
Income Tax Disclosure [Abstract] |
Schedule of differences between income taxes at federal statutory tax rate and effective tax rate | The following table summarizes the major components creating differences between income taxes at the federal statutory and the effective tax rate recorded in the consolidated statements of income for the three and six months ended June 30, 2020 and 2019:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Reconciliation of Federal Statutory to Actual Tax Expense: |  |  |  |  |  |  |
Federal statutory income tax at 21% | $ | 7,899 |  |  | $ | 10,249 |  |  | $ | 15,827 |  |  | $ | 19,858 |
Tax-exempt interest income | (3,199 | ) |  | (2,403 | ) |  | (6,221 | ) |  | (4,670 | )
Share-based compensation | (6 | ) |  | (41 | ) |  | (6 | ) |  | (391 | )
Tax-exempt earnings and gains on life insurance | (278 | ) |  | (199 | ) |  | (564 | ) |  | (406 | )
Tax credits | (89 | ) |  | (63 | ) |  | (150 | ) |  | (141 | )
CARES Act - NOL carryback rate differential | — |  |  | — |  |  | (1,178 | ) |  | — |
Other | 296 |  |  | 206 |  |  | 405 |  |  | 440 |
Actual Tax Expense | $ | 4,623 |  |  | $ | 7,749 |  |  | $ | 8,113 |  |  | $ | 14,690 |
Effective Tax Rate | 12.3 | % |  | 15.9 | % |  | 10.8 | % |  | 15.5 | %

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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://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=84230637&loc=d3e32687-109319 + Details
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