Income Tax (Tables)

9 Months Ended

Sep. 30, 2020

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, 2020 and 2019:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Reconciliation of Federal Statutory to Actual Tax Expense:
Federal statutory income tax at 21%	$	8,785		$	9,050		$	24,612		$	28,908
Tax-exempt interest income	(3,403)			(2,637)			(9,624)			(7,307)
Share-based compensation	382			(11)			376			(402)
Tax-exempt earnings and gains on life insurance	(246)			(241)			(810)			(647)
Tax credits	(55)			(61)			(205)			(202)
CARES Act - NOL carryback rate differential	—			—			(1,178)			—
Other	158			237			563			677
Actual Tax Expense	$	5,621		$	6,337		$	13,734		$	21,027
Effective Tax Rate	13.4		%	14.7		%	11.7		%	15.3		%