XML 78 R45.htm IDEA: XBRL DOCUMENT v3.22.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Components of Federal and State Income Tax Expense

The components of federal and state income tax expense for the years ended 2021, 2020, and 2019 were as follows (in thousands):

		2021				2020				2019
Current
Federal		$	12,269			$	12,315			$	8,538
State			6,384				7,120				4,900
Total current			18,653				19,435				13,438
Deferred
Federal			(2,562	)			(3,318	)			1,368
State			(793	)			(1,645	)			517
Total deferred			(3,355	)			(4,963	)			1,885
Total		$	15,298			$	14,472			$	15,323

Effective Income Tax Reconciliation

The principal reasons for the difference are as follows (in thousands):

		2021				2020				2019
Expected income taxes		$	14,025			$	12,546			$	13,286
Effects of:
Tax-exempt income from bank owned life insurance			(575	)			(363	)			(563	)
Other tax exempt income			(2,072	)			(1,758	)			(1,701	)
Nondeductible interest expense			17				45				70
State taxes, net of federal taxes			4,417				4,325				4,280
Other items			(514	)			(323	)			(49	)
Total		$	15,298			$	14,472			$	15,323

Tax Effects of Temporary Differences on Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of the temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2021 and 2020 are presented below (in thousands):

		2021				2020
Deferred tax assets:
Allowance for credit losses		$	12,957			$	11,858
Available-for-sale investment securities			339				—
Deferred compensation			4,025				3,486
Supplemental retirement			460				126
Core deposit premium and other intangible assets			—				948
Deferred loan costs			163				987
Stock compensation expense			79				80
Deferred revenue			443				460
Acquisition costs			217				265
Other			1,139				682
Total gross deferred tax assets			19,822				18,892
Deferred tax liabilities:
Deferred expenses			107				108
Intangibles amortization			6,480				5,034
Prepaid expenses			985				863
FHLB stock dividend			23				23
Depreciation			3,463				2,566
Purchase accounting			915				7,937
Accumulated accretion			111				135
Mortgage servicing rights			118				148
Available-for-sale investment securities			—				6,941
Other			321				—
Total gross deferred tax liabilities			12,523				23,755
Net deferred tax assets (liabilities)		$	7,299			$	(4,863	)

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://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

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://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

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://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

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