Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

The following is a summary of income tax expense for the years ended December 31, 2022, 2021, and 2020:

	December 31, 2022		December 31, 2021		December 31, 2020
Current – federal	$	15,494	$	13,494	$	8,681
Current – state	1,346		1,268		729
Deferred – federal	(1,618)		(1,025)		(1,672)
Deferred – state	(196)		(666)		(391)
Income tax expense	$	15,026	$	13,071	$	7,347

Schedule of Reconciliation of Income Tax Attributable to Pre-Tax Income at Federal Statutory Tax Rates to Income Tax Expense

The reconciliation of income tax attributable to pre-tax income at the federal statutory tax rates to income tax expense is as follows:

	December 31, 2022		%		December 31, 2021		%		December 31, 2020		%
Tax at statutory rate	$	16,425	21.0	%	$	14,863	21.0	%	$	8,419	21.0	%
Tax exempt income, net	(1,036)		(1.3)		(1,016)		(1.4)		(1,119)		(2.8)
Bank owned life insurance	(721)		(0.9)		(554)		(0.8)		(367)		(0.9)
Tax credits, net of amortization	(193)		(0.3)		(215)		(0.3)		(104)		(0.3)
Effect of state tax	908		1.2		476		0.7		576		1.4
Other	(357)		(0.5)		(483)		(0.7)		(58)		(0.1)
Income tax expense	$	15,026	19.2	%	$	13,071	18.5	%	$	7,347	18.3	%

Schedule of Components of Net Deferred Tax Asset

The following table sets forth deferred taxes as of December 31, 2022 and 2021:

	December 31, 2022		December 31, 2021
Deferred tax assets:
Allowance for credit losses	$	9,154	$	7,606
Fair value adjustments – business combination	917		1,240
Deferred compensation	3,448		3,344
Net operating loss carryover	344		327
Post-retirement benefits	647		696
Unrealized loss on interest rate swap	—		81
Nonaccrual loan interest	348		509
Accrued expenses	2,300		1,718
Deferred fees and costs	997		1,259
Unrealized loss on securities available-for-sale	12,914		188
Unrealized loss on securities held-to-maturity	1,265		—
Operating lease liability	7,645		4,845
Other	671		383
	40,650		22,196
Deferred tax liabilities:
Premises and equipment	3,409		3,093
Unrealized gain on equity securities	119		292
Intangibles – section 197	2,492		2,494
Mortgage servicing rights	399		366
Unrealized gain on interest rate swap	32		—
Operating lease asset	7,397		4,649
Other	68		220
	13,916		11,114
Net deferred tax asset	$	26,734	$	11,082