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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Income Tax Expense (Benefit) | Income tax expense (benefit) consists of the following (in thousands):
| December 31,
| 2021 |  | 2020 |  | 2019
Federal tax expense (benefit): |  |  |  |  |
Current | $ | 15,313 |  |  | $ | 11,270 |  |  | $ | 8,543 |
Deferred | 3,107 |  |  | (2,391) |  |  | 376 |
| 18,420 |  |  | 8,879 |  |  | 8,919 |
State and local tax expense (benefit): |  |  |  |  |
Current | 8,001 |  |  | 4,825 |  |  | 4,067 |
Deferred | 52 |  |  | (667) |  |  | (199) |
| 8,053 |  |  | 4,158 |  |  | 3,868 |
Total income tax expense | $ | 26,473 |  |  | $ | 13,037 |  |  | $ | 12,787 |
Reconciliation Between The Amount Of Reported Total Income Tax Expense And The Amount Computed By Multiplying The Applicable Statutory Income Tax Rate | Reconciliation between the amount of reported total income tax expense and the amount computed by multiplying the applicable statutory income tax rate for the years ended December 31, 2021, 2020, and 2019, is as follows (dollars in thousands):
| December 31,
| 2021 |  | 2020 |  | 2019
Tax expense at statutory rate | $ | 20,397 |  |  | $ | 10,505 |  |  | $ | 11,135 |
Applicable statutory federal income tax rate | 21 | % |  | 21 | % |  | 21 | %
Increase (decrease) in taxes resulting from: |  |  |  |  |
State tax, net of federal income tax | 6,362 |  |  | 3,285 |  |  | 3,056 |
Bank owned life insurance | (862) |  |  | (793) |  |  | (1,475) |
ESOP fair market value adjustment | 102 |  |  | 42 |  |  | 187 |
Incentive stock options | 6 |  |  | 18 |  |  | 81 |
Merger related costs | — |  |  | 147 |  |  | — |
Excess tax benefits from employee share based payments | — |  |  | — |  |  | (110) |
Other, net | 468 |  |  | (167) |  |  | (87) |
Income tax expense | $ | 26,473 |  |  | $ | 13,037 |  |  | $ | 12,787 |
Tax Effects Of Temporary Differences That Give Rise To Significant Portions Of The Deferred Tax Assets And Deferred Tax Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2021 and 2020, are as follows (in thousands):
| December 31,
| 2021 |  | 2020
Deferred tax assets: |  |  |
Allowance for credit losses | $ | 11,057 |  |  | $ | 10,348 |
Deferred compensation | 3,145 |  |  | 3,233 |
Accrued salaries | 1,338 |  |  | 775 |
Postretirement benefits | 354 |  |  | 346 |
Equity awards | 2,051 |  |  | 2,170 |
Straight-line leases adjustment | 1,713 |  |  | 1,533 |
Asset retirement obligation | 68 |  |  | 71 |
Reserve for accrued interest receivable | 620 |  |  | 675 |
Reserve for loan commitments | 537 |  |  | 226 |
Employee Stock Ownership Plan | 645 |  |  | 647 |
Other | 317 |  |  | 293 |
Depreciation | 3,229 |  |  | 2,798 |
Fair value adjustments of acquired loans | 1,440 |  |  | 4,967 |
Fair value adjustments of pension benefit obligations | 139 |  |  | 140 |
Total gross deferred tax assets | 26,653 |  |  | 28,222 |
Deferred tax liabilities: |  |  |
Unrealized gains on securities – AFS | 761 |  |  | 5,083 |
Unrealized actuarial gains on post retirement benefits | 15 |  |  | 15 |
Fair value adjustments of acquired securities | 580 |  |  | 825 |
Fair value adjustments of deposit liabilities | 28 |  |  | 3 |
Deferred loan fees | 2,010 |  |  | 1,387 |
Other | 23 |  |  | 26 |
Total gross deferred tax liabilities | 3,417 |  |  | 7,339 |
Net deferred tax asset | $ | 23,236 |  |  | $ | 20,883 |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the Company’s uncertain tax positions are as follows (in thousands):
| December 31,
| 2021 |  | 2020 |  | 2019
Beginning balance | $ | 157 |  |  | $ | 190 |  |  | $ | 530 |
Settlements based on tax positions related to prior years | (125) |  |  | (33) |  |  | (530) |
Additions based on tax positions related to prior years | 109 |  |  | — |  |  | 190 |
Ending balance | $ | 141 |  |  | $ | 157 |  |  | $ | 190 |

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