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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes | The provision for income tax is summarized as follows for the years ended December 31,:
| 2023 |  | 2022 |  | 2021
Current | $ | 24,938 |  |  | $ | 5,637 |  |  | $ | 5,533 |
Deferred | 3,012 |  |  | 9,203 |  |  | 3,145 |
Total income tax expense | $ | 27,950 |  |  | $ | 14,840 |  |  | $ | 8,678 |
Schedule of reconciliation of the statutory u.s. federal income tax rate to income before provision for income taxes | A reconciliation of the provision for income taxes, with the amount computed by applying the statutory U.S. federal income tax rates to income before provision for income taxes is as follows for the years ended December 31,:
| 2023 |  | 2022 |  | 2021
Income tax provision computed at U.S. federal statutory rate | $ | 27,611 |  |  | $ | 15,545 |  |  | $ | 10,887 |
State tax expense, net of U.S. federal effect | 3,718 |  |  | 2,359 |  |  | 1,836 |
Tax exempt interest | (4,017) |  |  | (4,011) |  |  | (4,562) |
Net increase in cash surrender value of BOLI | (405) |  |  | (353) |  |  | (268) |
Non-deductible professional fees | — |  |  | 216 |  |  | 648 |
Executive compensation | 301 |  |  | 727 |  |  | — |
Other | 742 |  |  | 357 |  |  | 137 |
Income tax provision | $ | 27,950 |  |  | $ | 14,840 |  |  | $ | 8,678 |
Effective tax provision rate | 21.3% |  | 20.0% |  | 16.7%
Schedule of Deferred Tax Assets and Liabilities | Significant components of deferred tax assets and liabilities are as follows as of December 31,:
| 2023 |  | 2022
Deferred tax assets: |  |  |
Federal and state net operating loss | $ | 22,852 |  |  | $ | 25,118 |
Allowance for credit losses | 18,950 |  |  | 15,537 |
Unrealized loss on securities | 13,920 |  |  | 14,235 |
Deferred compensation | 3,005 |  |  | 4,756 |
Fair value adjustments on loans | 1,626 |  |  | 2,428 |
Share-based compensation | 2,529 |  |  | 2,208 |
Accrued expenses | 881 |  |  | 1,320 |
Deferred loan fees | 826 |  |  | 1,044 |
Lease liability | 519 |  |  | 1,044 |
Fair value adjustments on deposits | 99 |  |  | 326 |
Other real estate owned and foreclosed assets | — |  |  | 7 |
Other | 5,437 |  |  | 4,559 |
Total deferred tax assets | 70,644 |  |  | 72,582 |
Deferred tax liabilities: |  |  |
Mortgage servicing rights | 18,079 |  |  | 17,465 |
Fair value adjustments on intangible assets | 2,889 |  |  | 3,596 |
Prepaid expenses | 1,193 |  |  | 1,143 |
Premises and equipment | 1,281 |  |  | 918 |
Fair value adjustments on debt | 606 |  |  | 700 |
FHLB stock | 144 |  |  | 196 |
Other | 193 |  |  | 209 |
Total deferred tax liabilities | 24,385 |  |  | 24,227 |
Total deferred tax assets, net | $ | 46,259 |  |  | $ | 48,355 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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