Income Tax (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2021 and 2020:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Reconciliation of Federal Statutory to Actual Tax Expense:
Federal statutory income tax at 21%	$	12,984		$	8,785		$	39,082		$	24,612
Tax-exempt interest income	(4,196)			(3,403)			(11,795)			(9,624)
Share-based compensation	119			382			47			376
Tax-exempt earnings and gains on life insurance	(503)			(246)			(1,037)			(810)
Tax credits	(127)			(55)			(277)			(205)
CARES Act - NOL carryback rate differential	—			—			—			(1,178)
State Income Tax	678			311			2,252			561
Other	107			(153)			36			2
Actual Tax Expense	$	9,062		$	5,621		$	28,308		$	13,734
Effective Tax Rate	14.7		%	13.4		%	15.2		%	11.7		%