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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
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: | 2024 |  | 2023 |  | 2022
Current | $ | 19,920 |  |  | $ | (7,181) |  |  | $ | 1,378 |
Deferred | (1,425) |  |  | 27,458 |  |  | 18,634 |
State income taxes: |  |  |  |  |
Current | 2,314 |  |  | 1,590 |  |  | 40 |
Deferred | (42) |  |  | 256 |  |  | (325) |
Income tax expense | $ | 20,767 |  |  | $ | 22,123 |  |  | $ | 19,727 |
Schedule of 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, |  |
| 2024 |  | 2023 |  | 2022 |  |
(Dollars in thousands) | Amount |  | % |  | Amount |  | % |  | Amount |  | % |  |
Income taxes computed at statutory rate | $ | 20,424 |  |  | 21.00 | % |  | $ | 22,244 |  |  | 21.00 | % |  | $ | 22,563 |  |  | 21.00 | % |  |
Tax exempt revenue, net of nondeductible interest | (772) |  |  | (0.79) |  |  | (1,072) |  |  | (1.01) |  |  | (1,510) |  |  | (1.41) |  |  |
Low-income housing tax credits, net of amortization | (539) |  |  | (0.55) |  |  | (758) |  |  | (0.72) |  |  | (832) |  |  | (0.77) |  |  |
Other tax credits, net of add-backs | (1,063) |  |  | (1.09) |  |  | (1,218) |  |  | (1.15) |  |  | (1,218) |  |  | (1.13) |  |  |
Bank-owned life insurance income | (196) |  |  | (0.20) |  |  | (182) |  |  | (0.17) |  |  | (145) |  |  | (0.13) |  |  |
State income taxes, net of federal benefit | 1,791 |  |  | 1.84 |  |  | 1,498 |  |  | 1.41 |  |  | (201) |  |  | (0.19) |  |  |
Stock-based compensation | 525 |  |  | 0.54 |  |  | 632 |  |  | 0.60 |  |  | 17 |  |  | 0.02 |  |  |
Nondeductible expense | 834 |  |  | 0.86 |  |  | 814 |  |  | 0.77 |  |  | 996 |  |  | 0.93 |  |  |
Other | (237) |  |  | (0.26) |  |  | 165 |  |  | 0.16 |  |  | 57 |  |  | 0.04 |  |  |
Total income tax expense | $ | 20,767 |  |  | 21.35 | % |  | $ | 22,123 |  |  | 20.89 | % |  | $ | 19,727 |  |  | 18.36 | % |  |
Schedule of 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: | 2024 |  | 2023 |
Credit loss allowances | $ | 20,458 |  |  | $ | 22,019 |  |
Deferred compensation and share-based compensation | 8,244 |  |  | 7,442 |  |
Net operating loss carryforwards | 1,699 |  |  | 1,333 |  |
Other | 1 |  |  | 5 |  |
Self-funded insurance | 119 |  |  | — |  |
Litigation reserve | 854 |  |  | — |  |
Investments in limited partnerships | 1,307 |  |  | 1,789 |  |
Other real estate owned | 137 |  |  | 24 |  |
Lease obligations | 48 |  |  | 48 |  |
Premium/discount on acquisitions | 187 |  |  | 187 |  |
Deferred rent obligations | 819 |  |  | 427 |  |
Gross deferred tax assets | 33,873 |  |  | 33,274 |  |
Valuation allowance | (1,587) |  |  | (1,193) |  |
Deferred tax assets net of valuation allowance | $ | 32,286 |  |  | $ | 32,081 |  |
Deferred tax liabilities: |  |  |  |
Basis difference in premises and equipment | $ | 6,864 |  |  | $ | 4,586 |  |
Intangible assets | 5,597 |  |  | 6,858 |  |
Mortgage servicing rights | — |  |  | 3,378 |  |
Deferred Income | 3,302 |  |  | 2,181 |  |
Other | 339 |  |  | 361 |  |
Gross deferred tax liabilities | 16,102 |  |  | 17,364 |  |
Net deferred tax asset | $ | 16,184 |  |  | $ | 14,717 |  |

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