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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes | The provision for income taxes is as follows:
(Dollars in thousands) | Years Ended December 31,
Federal income taxes: | 2021 |  | 2020 |  | 2019
Current | $ | 17,022 |  |  | $ | 18,157 |  |  | $ | 14,232 |
Deferred | 6,077 |  |  | (11,545) |  |  | (2,513) |
State income taxes: |  |  |  |  |
Current | 584 |  |  | 1,723 |  |  | 1,030 |
Deferred | 202 |  |  | (339) |  |  | (83) |
Income tax expense | $ | 23,885 |  |  | $ | 7,996 |  |  | $ | 12,666 |
Reconciliation of Income Tax Expense | A reconciliation of income tax expense at the statutory rate to the Company's actual income tax expense is below:
| Years Ended December 31,
| 2021 |  | 2020 |  | 2019
(Dollars in thousands) | Amount |  | % |  | Amount |  | % |  | Amount |  | %
Income taxes computed at statutory rate | $ | 27,811 |  |  | 21.00 | % |  | $ | 9,314 |  |  | 21.00 | % |  | $ | 13,975 |  |  | 21.00 | %
Tax exempt revenue, net of nondeductible interest | (1,339) |  |  | (1.01) |  |  | (878) |  |  | (1.98) |  |  | (644) |  |  | (0.97) |
Low-income housing tax credits, net of amortization | (468) |  |  | (0.35) |  |  | (511) |  |  | (1.15) |  |  | (514) |  |  | (0.77) |
Other tax credits, net of add-backs | (1,218) |  |  | (0.92) |  |  | (1,218) |  |  | (2.75) |  |  | (1,218) |  |  | (1.83) |
Bank-owned life insurance income | (170) |  |  | (0.13) |  |  | (259) |  |  | (0.58) |  |  | (158) |  |  | (0.24) |
State income taxes, net of federal benefit | 662 |  |  | 0.50 |  |  | 1,033 |  |  | 2.35 |  |  | 730 |  |  | 1.10 |
Stock-based compensation | (1,272) |  |  | (0.96) |  |  | 181 |  |  | 0.41 |  |  | (100) |  |  | (0.15) |
Nondeductible expense | 106 |  |  | 0.08 |  |  | 257 |  |  | 0.58 |  |  | 413 |  |  | 0.62 |
Other | (227) |  |  | (0.17) |  |  | 77 |  |  | 0.16 |  |  | 182 |  |  | 0.27 |
Total income tax expense | $ | 23,885 |  |  | 18.04 | % |  | $ | 7,996 |  |  | 18.04 | % |  | $ | 12,666 |  |  | 19.03 | %
Significant Components of Deferred Tax Assets and Liabilities | Significant components of deferred tax assets and liabilities are as follows:
(Dollars in thousands) | December 31, |
Deferred tax assets: | 2021 |  | 2020 |
Credit loss allowances | $ | 14,565 |  |  | $ | 19,315 |  |
Deferred compensation and share-based compensation | 4,795 |  |  | 4,504 |  |
Net operating loss carryforwards | 1,170 |  |  | 1,240 |  |
Other | 278 |  |  | 1,064 |  |
Gross deferred tax assets | 20,808 |  |  | 26,123 |  |
Valuation allowance | (974) |  |  | (994) |  |
Deferred tax assets net of valuation allowance | $ | 19,834 |  |  | $ | 25,129 |  |
Deferred tax liabilities: |  |  |  |
Basis difference in premises and equipment | $ | 2,461 |  |  | $ | 3,089 |  |
Intangible assets | 127 |  |  | 118 |  |
Mortgage servicing rights | 3,504 |  |  | 2,951 |  |
Other | 1,144 |  |  | 146 |  |
Gross deferred tax liabilities | 7,236 |  |  | 6,304 |  |
Net deferred tax asset | $ | 12,598 |  |  | $ | 18,825 |  |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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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=121826272&loc=d3e32687-109319 + Details
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