Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The following table presents the components of income tax expense (benefit):

(Dollars in thousands)
Years ended December 31,	2022	2021	2020
Current Tax Expense:
Federal	$16,127	$17,032	$19,248
State	2,202	2,130	3,213
Total current tax expense	18,329	19,162	22,461
Deferred Tax Expense (Benefit):
Federal	1,012	1,822	(2,375)
State	148	333	(755)
Total deferred tax expense (benefit)	1,160	2,155	(3,130)
Total income tax expense	$19,489	$21,317	$19,331

Schedule of Effective Income Tax Rate Reconciliation

The following table presents the reasons for the differences:

Years ended December 31,	2022			2021			2020
(Dollars in thousands)	Amount	Rate		Amount	Rate		Amount	Rate
Tax expense at Federal statutory rate	$19,146	21.0	%	$20,619	21.0	%	$18,724	21.0	%
Increase (decrease) in taxes resulting from:
State income tax expense, net of federal tax benefit	1,856	2.1		1,943	2.0		1,995	2.2
Tax-exempt income, net	(721)	(0.8)		(772)	(0.8)		(803)	(0.9)
BOLI	(544)	(0.6)		(614)	(0.6)		(523)	(0.6)
Investments in low-income housing limited partnerships	(261)	(0.3)		(117)	(0.1)		(118)	(0.1)
Share-based compensation	(68)	(0.1)		(159)	(0.2)		92	0.1
Other	81	0.1		417	0.4		(36)	—
Total income tax expense	$19,489	21.4	%	$21,317	21.7	%	$19,331	21.7	%

Schedule of Deferred Tax Assets and Liabilities

The following table presents the approximate tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities:

(Dollars in thousands)
December 31,	2022	2021
Deferred Tax Assets:
Net unrealized losses on available for sale debt securities	$41,379	$2,146
Allowance for credit losses on loans	9,127	9,381
Cash flow hedges	7,151	1,268
Operating lease liabilities	7,094	6,962
Deferred compensation	4,486	5,091
Deferred loan origination fees	2,106	2,044
Share-based compensation	1,884	1,859
Defined benefit pension obligations	—	966
Other	1,809	2,002
Deferred tax assets	75,036	31,719
Deferred Tax Liabilities:
Operating lease ROU assets	(6,518)	(6,406)
Deferred loan origination costs	(6,394)	(4,982)
Loan servicing rights	(2,163)	(2,357)
Depreciation of premises and equipment	(1,494)	(1,237)
Amortization of intangibles	(1,093)	(1,299)
Defined benefit pension obligations	(333)	—
Other	(669)	(1,427)
Deferred tax liabilities	(18,664)	(17,708)
Net deferred tax asset	$56,372	$14,011