Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Summary of Income Tax Provision

The income tax provision consists of the following:

Year ended December 31,	2022		2021
Current Expense
Federal	$	6,498	$	27,084
State		541		4,382
Total Current Expense		7,039		31,466
Deferred Expense (Benefit)
Federal		6,910		(5,405	)
State		1,044		(640	)
Total Deferred Expense (Benefit)		7,954		(6,045	)
Income Tax Expense	$	14,993	$	25,421

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation between a federal income tax rate of 21% and the effective tax rate which is derived by dividing the provision for income taxes by the income before the provision for income taxes:

Year ended December 31,	2022			2021
Computed provision for income taxes at the statutory rate	$	11,362		$	24,790
Increase (decrease) in income taxes resulting from:
State income tax provision, net of federal income tax benefit		1,189			2,757
Non-deductible expenses		60			52
Tax exempt income		—			(2,100	)
Valuation allowance changes affecting the provision for income taxes		2,375			—
Return to provision adjustments		9			—
Other, net		(2	)		(78	)
Provision for income taxes	$	14,993		$	25,421

Components of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities reflect temporary differences between financial and tax reporting. Significant components of deferred tax assets and liabilities are as follows:

December 31,	2022			2021
Deferred Tax Assets
Accruals and reserves not currently deductible	$	5,294		$	5,647
State NOL carryovers		70			21
Accrued and deferred compensation		1,987			2,562
Prepaid items		111			891
Lease liability		694			1,033
Contract liability		283			1,215
Deferred revenues		4,094			11,328
Unrealized loss on investments		2,375			276
Other		1,240			1,266
Subtotal before valuation allowance		16,148			24,239
Less: valuation allowance		(2,375	)		—
Total Deferred Tax Assets		13,773			24,239
Deferred Tax Liabilities
Property and equipment		(20,475	)		(22,607	)
Right-of-use asset		(1,282	)		(1,663	)
Other		(6	)		(124	)
Total Deferred Tax Liabilities		(21,763	)		(24,394	)
Net Deferred Income Tax Liabilities	$	(7,990	)	$	(155	)

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2022 and December 31, 2021 is as follows:

December 31,	2022		2021
Unrecognized tax benefits at the beginning of the year	$	118	$	177
Gross increases – current year tax provisions		5		—
Gross decreases – lapse of statute		—		(59	)
Unrecognized tax benefits at the end of the year	$	123	$	118
Interest and penalties in year-end balance	$	62	$	57