Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Summary Of Deferred Tax Assets And Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):

	2020		2019
Allowance for credit losses	$	5,883	$	2,708
Deferred compensation payable	3,165		2,912
Underfunded pension liability	1,784		1,912
Accrued expenses	2,218		1,196
Other	4,543		8,570
Total Deferred Tax Assets	17,593		17,298
Unrealized securities gains	11,637		3,709
Other	9,158		6,920
Total Deferred Tax Liabilities	20,795		10,629
Net Deferred Tax (Liabilities)/Assets	$	(3,202)	$	6,669

Summary Of Income Tax Expense

Significant components of the provision for income taxes are as follows (in thousands): 

	2020		2019		2018
Current:
Federal	$	16,599	$	16,636	$	16,846
State	2,478		2,560		2,413
Total current tax expense	19,077		19,196		19,259
Total deferred tax expense	2,640		4,939		(1,244)
Income tax expense	$	21,717	$	24,135	$	18,015

Reconciliation Of The Significant Differences Between The Federal Statutory Income Tax Rate And Effective Income Tax Rate

A reconciliation of the significant differences between the federal statutory income tax rate and the Company’s effective income tax rate is as follows (in thousands):

	2020		2019		2018
Computed federal taxes at statutory rate	$	23,376	$	23,832	$	18,483
State income taxes, net of federal tax benefit	2,070		2,376		1,730
Tax effects of:
Tax-exempt interest income	(944)		(733)		(694)
Bank-owned life insurance	(929)		(791)		(649)
Income tax credits	(1,113)		(889)		(575)
Other items, net	(743)		340		(280)
Income tax expense	$	21,717	$	24,135	$	18,015

Reconciliation Of The Unrecognized Tax Benefits Rollforward

A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows (in thousands):

	2020		2019
Beginning balance	$	1,807	$	1,811
Additions for current year tax positions	413		115
Additions for prior year tax positions	434		377
Decreases related to lapse of applicable statute of limitation	(565)		(496)
Ending balance	$	2,089	$	1,807