Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2022			2021			2020
Current:
Federal	$	33,169		$	32,364		$	19,590
State		13,247			12,325			7,006
Subtotal		46,416			44,689			26,596
Deferred:
Federal		(3,353	)		(110	)		(3,881	)
State		2,950			126			(3,614	)
Subtotal		(403	)		16			(7,495	)
Income tax expense	$	46,013		$	44,705		$	19,101

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2022			2021			2020
Income before income tax expense	$	171,224		$	175,058		$	90,390
Federal statutory rate		21	%		21	%		21	%
Computed “expected” Federal income tax expense		35,957			36,762			18,982
State tax, net of federal tax benefit		13,314			9,127			1,913
162M adjustment		777			-			-
Bank owned life insurance		(1,175	)		(1,001	)		(1,052	)
Tax-exempt interest and dividends		(1,969	)		(1,405	)		(1,491	)
Tax benefits from stock-based compensation		(417	)		(261	)		157
Other, net		(474	)		1,483			592
Income tax expense	$	46,013		$	44,705		$	19,101

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2022			2021
	(dollars in thousands)
Deferred tax assets
Allowance for credit losses	$	26,901		$	23,955
Depreciation		-			205
Pension actuarial losses		1,269			1,301
New Jersey net operating loss		156			3,609
Deferred compensation		3,784			2,786
Unrealized losses on available-for-sale securities		25,141			191
Deferred loan costs, net of fees		2,664			2,163
Finance lease		212			222
Nonaccrual interest		168			62
Operating lease liability		3,424			3,747
Other		4,172			3,703
Total deferred tax assets	$	67,891		$	41,944
Deferred tax liabilities
Employee benefit plans	$	(2,452	)	$	(2,289	)
Purchase accounting		(1,458	)		(925	)
Depreciation		(381	)		-
Prepaid expenses		(1,011	)		(288	)
Market discount accretion		-			(437	)
Unrealized gains on swaps		(13,704	)		(941	)
Right of use asset		(3,059	)		(3,325	)
Other		(1,681	)		(1,984	)
Total deferred tax liabilities		(23,746	)		(10,189	)
Net deferred tax assets	$	44,145		$	31,755