Income Tax (Tables)

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of reconciliation of Federal Statutory to actual tax expense

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 six months ended June 30, 2021 and 2020:

	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Reconciliation of Federal Statutory to Actual Tax Expense:
Federal statutory income tax at 21%	$	13,830		$	7,899		$	26,098		$	15,827
Tax-exempt interest income	(3,893)			(3,199)			(7,599)			(6,221)
Share-based compensation	(13)			(6)			(72)			(6)
Tax-exempt earnings and gains on life insurance	(253)			(278)			(534)			(564)
Tax credits	(77)			(89)			(150)			(150)
CARES Act - NOL carryback rate differential	—			—			—			(1,178)
State Income Tax	872			164			1,574			250
Other	(172)			132			(71)			155
Actual Tax Expense	$	10,294		$	4,623		$	19,246		$	8,113
Effective Tax Rate	15.6		%	12.3		%	15.5		%	10.8		%