Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

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):

	2021		2020
Allowance for credit losses	$	4,395	$	5,883
Deferred compensation payable	3,538		3,165
Underfunded pension liability	1,112		1,784
Accrued expenses	1,693		2,218
Other	4,876		4,543
Total Deferred Tax Assets	15,614		17,593
Unrealized securities gains	5,680		11,637
Other	9,871		9,158
Total Deferred Tax Liabilities	15,551		20,795
Net Deferred Tax Assets/(Liabilities)	$	63	$	(3,202)

Summary Of Income Tax Expense

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

	2021		2020		2019
Current:
Federal	$	17,248	$	16,599	$	16,636
State	3,681		2,478		2,560
Total current tax expense	20,929		19,077		19,196
Total deferred tax expense	2,185		2,640		4,939
Income tax expense	$	23,114	$	21,717	$	24,135

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):

	2021			2020			2019
Computed federal taxes at statutory rate	$	23,351		$	23,376		$	23,832
State income taxes, net of federal tax benefit	3,124			2,070			2,376
Tax effects of:
Tax-exempt interest income	(1,177)			(944)			(733)
Bank-owned life insurance	(818)			(929)			(791)
Income tax credits	(1,449)			(1,113)			(889)
Other items, net	83			(743)			340
Income tax expense	$	23,114		$	21,717		$	24,135
Effective tax rate	20.8		%	19.5		%	21.3		%

Reconciliation Of The Unrecognized Tax Benefits Rollforward

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

	2021		2020
Beginning balance	$	2,089	$	1,807
Additions for current year tax positions	368		413
Additions for prior year tax positions	—		434
Decreases for prior year tax positions	(45)		—
Decreases related to lapse of applicable statute of limitation	(566)		(565)
Ending balance	$	1,846	$	2,089