Income Tax

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Tax

INCOME TAX

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 months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
	2022			2021
Reconciliation of Federal Statutory to Actual Tax Expense:
Federal statutory income tax at 21%	$	11,729		$	12,268
Tax-exempt interest income	(4,520)			(3,706)
Share-based compensation	(12)			(59)
Tax-exempt earnings and gains on life insurance	(354)			(281)
Tax credits	(87)			(73)
State Income Tax	495			702
Other	15			101
Actual Tax Expense	$	7,266		$	8,952
Effective Tax Rate	13.0		%	15.3		%