XML 64 R47.htm IDEA: XBRL DOCUMENT v3.25.0.1

Income Taxes (Tables)

12 Months Ended

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

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration