v3.25.2
Income Taxes (Tables)
6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense
The components of the Company's consolidated provision for income taxes from operations are as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(In thousands)
Current income tax expense:
Federal$4,345 $6,952 $13,469 $10,529 
State493 517 1,434 886 
Total current income tax expense$4,838 $7,469 $14,903 $11,415 
Deferred income tax expense:
Federal$4,466 $2,541 $2,666 $4,054 
State400 646 374 1,019 
Total deferred income tax expense$4,866 $3,187 $3,040 $5,073 
Total income tax expense$9,704 $10,656 $17,943 $16,488 
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the statutory federal income tax rate to the Company's effective income tax rate is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(In thousands)
Tax at statutory rate21.0 %21.0 %21.0 %21.0 %
Nondeductible compensation0.4 %0.8 %0.6 %0.7 %
Share-based compensation(0.3)%0.1 %(0.2)%0.1 %
State income taxes, net of federal benefit1.7 %2.1 %1.9 %2.2 %
Effective income tax rate22.8 %24.0 %23.3 %24.0 %