Income taxes	9 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company’s and the Utilities’ effective tax rates (combined federal and state income tax rates) were 19% and 20%, respectively, for the nine months ended September 30, 2019. These rates differed from the combined statutory rates, due primarily to the Utilities’ amortization of excess deferred income taxes related to the provision in the Tax Act that lowered the federal income tax rate from 35% to 21%, the non-taxability of the bank-owned life insurance income and the tax benefits derived from the low income housing tax credit investments. The Company’s and the Utilities’ effective tax rates were both 19% for the nine months ended September 30, 2018.

Income taxes

9 Months Ended

Sep. 30, 2019

The Company’s and the Utilities’ effective tax rates (combined federal and state income tax rates) were 19% and 20%, respectively, for the nine months ended September 30, 2019. These rates differed from the combined statutory rates, due primarily to the Utilities’ amortization of excess deferred income taxes related to the provision in the Tax Act that lowered the federal income tax rate from 35% to 21%, the non-taxability of the bank-owned life insurance income and the tax benefits derived from the low income housing tax credit investments. The Company’s and the Utilities’ effective tax rates were both 19% for the nine months ended September 30, 2018.