Income Taxes (Tables)

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense (benefit)

The components of income tax expense (benefit) are as follows:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2022			2021			2022			2021
	(In Thousands)						(In Thousands)
Current:
Federal	$	6,053		$	9,239		$	11,867		$	15,600
State and local		192			165			355			328
Deferred		(799	)		(1,081	)		(606	)		2,346
	$	5,446		$	8,323		$	11,616		$	18,274

Schedule of effective income tax rate reconciliation

The effective tax rates differ from federal statutory rate applied to income due to the following:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2022			2021			2022			2021
	(In Thousands)						(In Thousands)
Tax expense (benefit) at statutory rate (21%)	$	5,840		$	8,287		$	12,670		$	19,036
Increases (decreases) in taxes from:
State income tax - net of federal tax benefit		152			131			280			259
Tax exempt interest income, net of TEFRA		(188	)		(228	)		(374	)		(428	)
Bank owned life insurance		(206	)		(181	)		(415	)		(426	)
Captive insurance		(96	)		(102	)		(201	)		(192	)
Other		(56	)		416			(344	)		25
Totals	$	5,446		$	8,323		$	11,616		$	18,274