Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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):

	2022		2021
Allowance for credit losses	$	4,102	$	4,395
Deferred compensation payable	3,279		3,538
Underfunded pension liability	1,200		1,112
Accrued expenses	1,265		1,693
Unrealized securities losses	40,380		—
Other	4,812		4,876
Total Deferred Tax Assets	55,038		15,614
Unrealized securities gains	—		5,680
Other	10,154		9,871
Total Deferred Tax Liabilities	10,154		15,551
Net Deferred Tax Assets/(Liabilities)	$	44,884	$	63

Summary Of Income Tax Expense

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

	2022		2021		2020
Current:
Federal	$	20,481	$	17,248	$	16,599
State	3,313		3,681		2,478
Total current tax expense	23,794		20,929		19,077
Total deferred tax expense	1,469		2,185		2,640
Income tax expense	$	25,263	$	23,114	$	21,717

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):

	2022			2021			2020
Computed federal taxes at statutory rate	$	26,740		$	23,351		$	23,376
State income taxes, net of federal tax benefit	2,871			3,124			2,070
Tax effects of:
Tax-exempt interest income	(1,142)			(1,177)			(944)
Bank-owned life insurance	(1,167)			(818)			(929)
Income tax credits	(1,904)			(1,449)			(1,113)
Other items, net	(135)			83			(743)
Income tax expense	$	25,263		$	23,114		$	21,717
Effective tax rate	19.8		%	20.8		%	19.5		%

Reconciliation Of The Unrecognized Tax Benefits Rollforward

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

	2022		2021
Beginning balance	$	1,846	$	2,089
Additions for current year tax positions	351		368
Decreases for prior year tax positions	(17)		(45)
Decreases related to lapse of applicable statute of limitation	(561)		(566)
Ending balance	$	1,619	$	1,846