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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Taxes |
Schedule of components of income tax expense (benefit) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Current federal | ​ | $ | 13,241 | ​ | $ | 750 | ​ | $ | 6,269
Current state | ​ | ​ | 6,209 | ​ | ​ | 594 | ​ | ​ | 3,960
Deferred federal | ​ | ​ | 3,338 | ​ | ​ | 4,445 | ​ | ​ | (135)
Deferred state | ​ | ​ | 1,356 | ​ | ​ | 2,034 | ​ | ​ | (511)
Total income tax expense | ​ | $ | 24,144 | ​ | $ | 7,823 | ​ | $ | 9,583
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
Schedule of components of deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
Accrued bonus | ​ | $ | 2,700 | ​ | $ | 1,362
Allowance for credit losses | ​ | ​ | 15,591 | ​ | ​ | 14,636
Deferred compensation | ​ | ​ | 1,292 | ​ | ​ | 1,293
Goodwill amortization/impairment | ​ | ​ | - | ​ | ​ | 919
Stock based compensation | ​ | ​ | 1,257 | ​ | ​ | 911
Business combination adjustments | ​ | ​ | 1,138 | ​ | ​ | 882
Federal recognized built-in loss ("RBIL") carryforward | ​ | ​ | - | ​ | ​ | 493
Other assets | ​ | ​ | 1,621 | ​ | ​ | 1,173
Total deferred tax assets | ​ | ​ | 23,599 | ​ | ​ | 21,669
​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated depreciation on premises and equipment | ​ | ​ | (4,107) | ​ | ​ | (1,636)
Goodwill amortization/impairment | ​ | ​ | (229) | ​ | ​ | -
Mortgage servicing rights | ​ | ​ | (3,103) | ​ | ​ | (1,982)
Amortization of core deposit intangible | ​ | ​ | (3,673) | ​ | ​ | (4,269)
Acquired securities | ​ | ​ | (1,921) | ​ | ​ | (2,458)
Other liabilities | ​ | ​ | (2,025) | ​ | ​ | (1,814)
Total deferred tax liabilities | ​ | ​ | (15,058) | ​ | ​ | (12,159)
Net deferred tax asset before adjustments related to other comprehensive income | ​ | ​ | 8,541 | ​ | ​ | 9,510
Tax effect of adjustments related to other comprehensive income | ​ | ​ | 36,209 | ​ | ​ | (3,410)
Net deferred tax asset | ​ | $ | 44,750 | ​ | $ | 6,100
​ | ​ | ​ | ​ | ​ | ​ | ​
​
Schedule of difference between effective tax rates from federal statutory rates | Effective tax rates differ from federal statutory rates applied to financial statement income for the years ended December 31, due to the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Tax at statutory federal income tax rate | ​ | $ | 19,225 | ​ | $ | 5,852 | ​ | $ | 7,856
Nontaxable interest income, net of disallowed interest deduction | ​ | ​ | (1,097) | ​ | ​ | (1,069) | ​ | ​ | (1,067)
BOLI income | ​ | ​ | (151) | ​ | ​ | (292) | ​ | ​ | (271)
State income taxes, net of federal benefit | ​ | ​ | 6,091 | ​ | ​ | 2,054 | ​ | ​ | 2,570
Stock based compensation | ​ | ​ | (43) | ​ | ​ | 54 | ​ | ​ | 297
Transaction costs | ​ | ​ | - | ​ | ​ | 396 | ​ | ​ | -
Other, net | ​ | ​ | 119 | ​ | ​ | 828 | ​ | ​ | 198
Total tax at effective tax rate | ​ | $ | 24,144 | ​ | $ | 7,823 | ​ | $ | 9,583
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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 https://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 https://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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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