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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
INCOME TAXES |
Schedule of components of income tax expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, 2022 | ​ | Year Ended December 31, 2021 | ​ | Year Ended December 31, 2020
​ | ​ | ​ | ​ | ​ | State | ​ | ​ | ​ | ​ | ​ | ​ | ​ | State | ​ | ​ | ​ | ​ | ​ | ​ | ​ | State | ​ | ​ | ​
(In thousands) |  | Federal |  | and City |  | Total |  | Federal |  | and City |  | Total |  | Federal |  | and City |  | Total
Current | ​ | $ | 39,492 | ​ | $ | 17,205 | ​ | $ | 56,697 | ​ | $ | 23,759 | ​ | $ | 11,815 | ​ | $ | 35,574 | ​ | $ | 13,107 | ​ | $ | 1,524 | ​ | $ | 14,631
Deferred | ​ |  | 840 | ​ |  | 1,822 | ​ |  | 2,662 | ​ |  | 5,490 | ​ |  | 3,106 | ​ |  | 8,596 | ​ |  | (1,181) | ​ |  | (784) | ​ |  | (1,965)
Total | ​ | $ | 40,332 | ​ | $ | 19,027 | ​ | $ | 59,359 | ​ | $ | 29,249 | ​ | $ | 14,921 | ​ | $ | 44,170 | ​ | $ | 11,926 | ​ | $ | 740 | ​ | $ | 12,666
​
Schedule of reconciliation of the expected Federal income tax expense at the statutory tax rate to the actual provision | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
(Dollars in thousands) |  | 2022 |  | 2021 |  | 2020 |
Tax at federal statutory rate | ​ | $ | 44,502 | ​ | $ | 31,115 | ​ | $ | 11,546 | ​
State and local taxes, net of federal income tax benefit | ​ |  | 13,699 | ​ |  | 11,601 | ​ |  | 567 | ​
Benefit plan differences | ​ |  | (127) | ​ |  | (107) | ​ |  | (240) | ​
Adjustments for prior period returns and tax items | ​ |  | 1,812 | ​ |  | (238) | ​ |  | 125 | ​
Investment in BOLI | ​ |  | (2,173) | ​ |  | (1,485) | ​ |  | (1,020) | ​
Equity based compensation | ​ |  | (141) | ​ |  | (301) | ​ |  | 96 | ​
Salaries deduction limitation | ​ |  | 2,054 | ​ |  | 3,419 | ​ |  | 1,428 | ​
Transaction costs | ​ | ​ | — | ​ | ​ | 181 | ​ | ​ | 256 | ​
Other, net | ​ |  | (267) | ​ |  | (15) | ​ |  | (92) | ​
Total | ​ | $ | 59,359 | ​ | $ | 44,170 | ​ | $ | 12,666 | ​
Effective tax rate | ​ |  | 28.01 | % |  | 29.81 | % |  | 23.04 | %
​
Schedule of components of deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
(In thousands) |  | 2022 |  | 2021
Deferred tax assets: | ​ | ​ | ​ |  | ​ |
Allowance for credit losses and other contingent liabilities | ​ | $ | 28,175 | ​ | $ | 29,777
Tax effect of other components of income on securities available-for-sale | ​ | ​ | 38,140 | ​ | ​ | 3,265
Tax effect of other components of income on securities held-to-maturity | ​ | ​ | 8,138 | ​ | ​ | 343
Operating lease liability | ​ |  | 19,256 | ​ |  | 20,532
Other | ​ |  | 2,074 | ​ |  | 1,976
Total deferred tax assets | ​ |  | 95,783 | ​ |  | 55,893
Deferred tax liabilities: | ​ |  |  | ​ |  |
Tax effect of other components of income on derivatives | ​ | ​ | 5,394 | ​ | ​ | 1,371
Employee benefit plans | ​ | ​ | 976 | ​ | ​ | 2,803
Tax effect of purchase accounting fair value adjustments | ​ | ​ | 2,352 | ​ | ​ | 3,945
Difference in book and tax carrying value of fixed assets | ​ |  | 4,261 | ​ |  | 3,950
Difference in book and tax basis of unearned loan fees | ​ |  | 2,431 | ​ |  | 2,413
Operating lease asset | ​ |  | 18,414 | ​ |  | 19,871
States taxes | ​ | ​ | 2,801 | ​ | ​ | (189)
Other | ​ |  | 1,002 | ​ |  | 1,330
Total deferred tax liabilities | ​ |  | 37,631 | ​ |  | 35,494
Net deferred tax asset (recorded in other assets) | ​ | $ | 58,152 | ​ | $ | 20,399
​

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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