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Income Taxes | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The following table shows the composition of income tax expense.
Year Ended December 31 (Dollars in thousands) |  | 2021 |  | 2020 |  | 2019
Current: |  |  |  |  |  |
Federal |  | $ | 16,346 |  |  | $ | 42,411 |  |  | $ | 28,130 |
State |  | 4,586 |  |  | 6,629 |  |  | 5,739 |
Total current |  | 20,932 |  |  | 49,040 |  |  | 33,869 |
Deferred: |  |  |  |  |  |
Federal |  | 14,206 |  |  | (21,865) |  |  | (5,135) |
State |  | 1,190 |  |  | (2,295) |  |  | (595) |
Total deferred |  | 15,396 |  |  | (24,160) |  |  | (5,730) |
Total provision |  | $ | 36,328 |  |  | $ | 24,880 |  |  | $ | 28,139 |
The following table shows the reasons for the difference between income tax expense and the amount computed by applying the statutory federal income tax rate (21%) to income before income taxes.
|  | 2021 |  | 2020 |  | 2019
Year Ended December 31 (Dollars in thousands) |  | Amount |  | Percent of Pretax Income |  | Amount |  | Percent of Pretax Income |  | Amount |  | Percent of Pretax Income
Statutory federal income tax |  | $ | 32,526 |  |  | 21.0 | % |  | $ | 22,332 |  |  | 21.0 | % |  | $ | 25,232 |  |  | 21.0 | %
(Decrease) increase in income taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt interest income |  | (373) |  |  | (0.2) |  |  | (439) |  |  | (0.4) |  |  | (552) |  |  | (0.5) |
State taxes, net of federal income tax benefit |  | 4,563 |  |  | 2.9 |  |  | 3,424 |  |  | 3.2 |  |  | 4,064 |  |  | 3.4 |
Other |  | (388) |  |  | (0.2) |  |  | (437) |  |  | (0.4) |  |  | (605) |  |  | (0.5) |
Total |  | $ | 36,328 |  |  | 23.5 | % |  | $ | 24,880 |  |  | 23.4 | % |  | $ | 28,139 |  |  | 23.4 | %
The tax expense related to (losses) gains on investment securities available-for-sale for the years 2021, 2020, and 2019 was approximately $(164,000), $67,000, and $0, respectively. The following table shows the composition of deferred tax assets and liabilities as of December 31, 2021 and 2020.
(Dollars in thousands) |  | 2021 |  | 2020
Deferred tax assets: |  |  |  |
Allowance for credit losses |  | $ | 32,431 |  |  | $ | 35,696 |
Tax credit carryforward |  | — |  |  | 8,606 |
Operating lease liability |  | 5,145 |  |  | 5,704 |
Accruals for employee benefits |  | 3,837 |  |  | 2,963 |
Capitalized loan costs |  | 15 |  |  | 893 |
Net unrealized losses on securities available-for-sale |  | 3,128 |  |  | — |
Other |  | 1,015 |  |  | 851 |
Total deferred tax assets |  | 45,571 |  |  | 54,713 |
Deferred tax liabilities: |  |  |  |
Differing depreciable bases in premises and leased equipment |  | 10,796 |  |  | 13,118 |
Right of use assets - leases |  | 5,315 |  |  | 5,737 |
Differing bases in assets related to acquisitions |  | 4,219 |  |  | 4,160 |
Tax advantaged partnerships |  | 9,502 |  |  | 3,770 |
Net unrealized gains on securities available-for-sale |  | — |  |  | 5,827 |
Other |  | 713 |  |  | 634 |
Total deferred tax liabilities |  | 30,545 |  |  | 33,246 |
Net deferred tax asset |  | $ | 15,026 |  |  | $ | 21,467 |
No valuation allowance for deferred tax assets was recorded at December 31, 2021 and 2020 as the Company believes it is more likely than not that all of the deferred tax assets will be realized. Additionally, the tax credit carryforward generated in 2020 was fully utilized in 2021. Tax years that remain open and subject to audit include the federal 2018-2021 years and the Indiana 2018-2021 years. The Company does not anticipate a significant change in the amount of uncertain tax positions within the next 12 months.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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