XML 74 R54.htm IDEA: XBRL DOCUMENT v3.25.0.1

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of allocation of federal and state income taxes between current and deferred portions

Allocation of income tax expense between current and deferred portions is as follows:

			Year Ended December 31,
(dollars in thousands)			2024						2023						2022
Current
Federal			$	17,090					$	12,538					$	15,194
State			7,517						6,384						7,459
Total current			24,607						18,922						22,653
Deferred
Federal			307						2,811						(2,045)
State			689						1,006						(874)
Total deferred			996						3,817						(2,919)
Income tax expense			$	25,603					$	22,739					$	19,734

Schedule of effective income tax rate reconciliation

Income tax expense differs from the statutory federal rate due to the following:

			Year Ended December 31,
			2024												2023												2022
(dollars in thousands)			Amount						Percentage						Amount						Percentage						Amount						Percentage
Federal income tax, at statutory rate			$	20,450					21.0		%				$	18,602					21.0		%				$	16,000					21.0		%
Increase (decrease) resulting from:
Federally tax exempt interest income			(1,391)						(1.4)						(1,767)						(2.0)						(1,618)						(2.1)
State taxes, net of federal benefit			6,481						6.7						5,838						6.6						5,285						6.9
Other			63						—						66						0.1						67						0.1
Income tax expense			$	25,603					26.3		%				$	22,739					25.7		%				$	19,734					25.9		%

Schedule of components of the net deferred tax asset (liability)

The components of the deferred tax assets and liabilities are as follows:

(dollars in thousands)			December 31, 2024						December 31, 2023
Deferred tax assets
Allowance for credit losses			$	12,523					$	12,247
Compensation related			3,119						3,230
Deferred loan fees			692						676
Nonaccrual interest			673						596
Foreclosed assets			—						18
Goodwill			3						74
Net operating loss carryforward			99						144
Net unrealized losses on debt securities			19,424						23,967
Other purchase accounting adjustments			4,012						5,250
Other			699						575
Total deferred tax assets			41,244						46,777
Deferred tax liabilities
Fixed asset depreciation			3,172						3,044
Mortgage servicing rights			5,224						5,306
Intangible assets			4,899						5,584
Prepaid assets			982						816
Other			532						566
Total deferred tax liabilities			14,809						15,316
Net deferred tax asset			$	26,435					$	31,461

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