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Income Taxes | 3 Months Ended
--- | ---
Mar. 31, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The components of the Company's consolidated provision for income taxes from operations are as follows:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
| (In thousands)
Current income tax expense: |  |  |  |  |  |  |
Federal | $ | 9,124 |  |  | $ | 3,577 |  |  |  |  |
State | 941 |  |  | 369 |  |  |  |  |
Total current income tax expense | $ | 10,065 |  |  | $ | 3,946 |  |  |  |  |
Deferred income tax expense: |  |  |  |  |  |  |
Federal | $ | (1,800) |  |  | $ | 1,513 |  |  |  |  |
State | (26) |  |  | 373 |  |  |  |  |
Total deferred income tax expense | $ | (1,826) |  |  | $ | 1,886 |  |  |  |  |
Total income tax expense | $ | 8,239 |  |  | $ | 5,832 |  |  |  |  |
A reconciliation of the statutory federal income tax rate to the Company's effective income tax rate is as follows:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
| (In thousands)
Tax at statutory rate | 21.0 | % |  | 21.0 | % |  |  |  |
Nondeductible compensation | 0.8 | % |  | 0.5 | % |  |  |  |
State income taxes, net of federal benefit | 2.1 | % |  | 2.4 | % |  |  |  |
Effective income tax rate | 23.9 | % |  | 23.9 | % |  |  |  |
The Company's federal income tax returns for the years subsequent to December 31, 2020, remain subject to examination. The Company's income tax returns in major state income tax jurisdictions remain subject to examination for various periods subsequent to December 31, 2019. The Company currently believes that all other significant filing positions are highly certain and that all of our other significant income tax positions and deductions would be sustained under audit or the final resolution would not have a material effect on our consolidated financial statements. Therefore, the Company has not established any reserves for uncertain tax positions.

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