Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

The components of income tax expense were as follows for the year ended December 31, 2025:


	2025
Federal:
Current	$	18,780
Deferred	2,291
Federal income tax expense	21,071
State:
Current	3,421
Deferred	468
State income tax expense	3,889




Total income tax expense	$	24,960

The provision for income tax is summarized as follows for the years ended December 31,:


	2024		2023
Current	$	16,137	$	24,938
Deferred	3,347		3,012
Federal income tax expense	$	19,484	$	27,950

Schedule of Reconciliation of Effective Income Tax Rate

The following tables present a reconciliation of the statutory federal income tax rate to the effective income tax rate for the years ended December 31,:


	2025
	Amount		Percent
U.S. federal statutory income tax	$	25,808	21.0	%
State and local income taxes, net of federal benefits1	3,170		2.6	%


Tax credits:
Proportional Amortization of LIHTC Credits2	1,072		0.9	%

Nontaxable or nondeductible items:
Tax Exempt Interest	(3,867)		(3.1)	%
Share-based payment awards	133		0.1	%
Non-deductible professional fees	427		0.3	%


Other adjustments:
Permanent RTP3	(1,208)		(1.0)	%
Other	(575)		(0.5)	%
Income tax expense	$	24,960	20.3	%
1 The majority of state and local income taxes are from Colorado, Illinois, Kansas, Texas and Arizona. 2 LIHTC tax credits are net of amortization and other income tax benefits. 3 2024 Provision to Return adjustment.


	2024				2023
	Amount		Percent		Amount		Percent
Taxes at statutory federal income tax rate	$	19,974	21.0	%	$	27,611	21.0	%
Tax effect from:
State income taxes, net of federal benefits	4,012		4.2	%	3,718		2.9	%
Tax exempt income	(3,827)		(4.0)	%	(4,017)		(3.1)	%
Net increase in cash surrender value of BOLI	(588)		(0.6)	%	(405)		(0.3)	%
Federal tax credits	(380)		(0.4)	%	—		—	%

Executive compensation	107		0.1	%	301		0.2	%

Other	186		0.2	%	742		0.6	%
Income tax provision	$	19,484	20.5	%	$	27,950	21.3	%

Schedule of Cash Flow, Supplemental Disclosures

The following table presents income taxes paid for the year ended December 31, 2025:



Federal	$	12,691
State:
Texas	640
Kansas	416
California	332
Arizona	227
Other States	1,401
Federal and state income taxes paid	$	15,707

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities were as follows at December 31,:


	2025		2024
Deferred tax assets:
Acquired federal and state net operating loss	$	18,421	$	20,620
Allowance for credit losses	19,907		20,794
Unrealized loss on securities	8,396		12,203
Deferred compensation	4,324		3,679
Fair value adjustments on securities	2,185		2,449
Deferred loan fees	2,011		877
Accrued expenses	1,534		1,615
Share-based compensation	1,143		1,374
Fair value adjustments on loans	759		1,073
Lease liability	420		448
Unfunded commitment liability	283		—
Fair value adjustments on deposits	—		19


Other	655		1,682
Total deferred tax assets	60,038		66,833

Deferred tax liabilities:
Mortgage servicing rights	20,196		19,623
Prepaid expenses	1,601		1,661
Fair value adjustments on intangible assets	1,562		2,098
Premises and equipment	1,002		978
Fair value adjustments on debt	433		516
FHLB stock	100		100

Partnership investment	—		485
Other	271		177
Total deferred tax liabilities	25,165		25,638






Total deferred tax assets, net	$	34,873	$	41,195