For the Three Months Ended June 30,

For the Six Months Ended June 30,

2022

2021

2022

2021

% of

Pretax

Amount

Income

Amount

Income

Amount

Income

Amount

Income

(dollars in thousands)

Computed "expected" tax expense

$

3,514

21.0

%

$

5,699

21.0

%

$

8,965

21.0

%

$

10,219

21.0

%

Tax exempt income, net

(2,476)

(14.8)

(1,802)

(6.6)

(4,698)

(11.0)

(3,521)

(7.2)

Bank-owned life insurance

(73)

(0.4)

(95)

(0.4)

(146)

(0.3)

(194)

(0.4)

State income taxes, net of federal benefit, current year

982

5.9

1,247

4.6

2,273

5.3

2,271

4.7

Provision adjustment from accounting method change

—

(1,181)

(2.8)

—

Tax credits

(289)

(1.7)

(57)

(0.2)

(531)

(1.2)

(114)

(0.2)

Income from tax credit equity investments

158

0.9

—

(143)

(0.3)

—

Acquisition costs

242

1.4

—

372

0.9

—

Excess tax benefit on stock options exercised and restricted stock awards vested

(40)

(0.2)

(40)

(0.1)

(474)

(1.1)

(204)

(0.4)

Other

(526)

(3.2)

(164)

(0.7)

(612)

(1.5)

(128)

(0.3)

Federal and state income tax expense

$

1,492

8.9

%

$

4,788

17.6

%

$

3,825

9.0

%

$

8,329

17.2

%