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Income Tax (Tables)
 9 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]  
Schedule of differences between income taxes at federal statutory tax rate and effective tax rate
The following table summarizes the major components creating differences between income taxes at the federal statutory and the effective tax rate recorded in the consolidated statements of income for the three and nine months ended September 30, 2019 and 2018:

Three Months Ended
September 30,

Nine Months Ended
September 30,
 
2019

2018

2019

2018
Reconciliation of Federal Statutory to Actual Tax Expense:
 

 

 

 
Federal statutory income tax at 21%
$
9,050


$
10,414


$
28,908


$
29,500

Tax-exempt interest income
(2,637
)

(2,118
)

(7,307
)

(6,178
)
Share-based compensation
(11
)

(38
)

(402
)

(570
)
Tax-exempt earnings and gains on life insurance
(241
)

(197
)

(647
)

(655
)
Tax credits
(61
)

(42
)

(202
)

(65
)
Other
237


459


677


1,018

Actual Tax Expense
$
6,337


$
8,478


$
21,027


$
23,050













Effective Tax Rate
14.7
%

17.1
%

15.3
%

16.4
%