Income Tax

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2022 and 2021:

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Reconciliation of Federal Statutory to Actual Tax Expense:
Federal statutory income tax at 21%	$	9,002		$	13,830		$	20,731		$	26,098
Tax-exempt interest income	(4,877)			(3,893)			(9,397)			(7,599)
Share-based compensation	(55)			(13)			(67)			(72)
Tax-exempt earnings and gains on life insurance	(275)			(253)			(629)			(534)
Tax credits	(83)			(77)			(170)			(150)
State Income Tax	24			872			519			1,574
Other	143			(172)			158			(71)
Actual Tax Expense	$	3,879		$	10,294		$	11,145		$	19,246
Effective Tax Rate	9.0		%	15.6		%	11.3		%	15.5		%