v3.25.4
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Allocation of Income Tax Expense Between Current and Deferred Portions
Allocation of income tax expense between current and deferred portions is as follows:
Year Ended December 31,
(dollars in thousands)202520242023
Current
Federal$18,731 $17,090 $12,538 
State8,438 7,517 6,384 
Total current27,169 24,607 18,922 
Deferred
Federal268 307 2,811 
State61 689 1,006 
Total deferred329 996 3,817 
Income tax expense$27,498 $25,603 $22,739 
Schedule of Expense Differs from the Statutory Federal Rate Income tax expense differs from the statutory federal rate due to the following:
Year Ended December 31,
202520242023
(dollars in thousands)AmountPercentageAmountPercentageAmountPercentage
Federal income tax, at US statutory rate$21,946 21.0 %$20,450 21.0 %$18,602 21.0 %
Increase (decrease) resulting from:
State taxes, net of federal benefit6,711 6.4 6,174 6.3 5,838 6.6 
Nontaxable or nondeductible items:
Federally tax exempt interest income(1,417)(1.3)(1,391)(1.4)(1,767)(2.0)
Other255 0.2 89 0.1 266 0.3 
Tax credits(186)(0.2)(137)(0.1)(190)(0.2)
Other189 0.2 418 0.4 (10)— 
Income tax expense$27,498 26.3 %$25,603 26.3 %$22,739 25.7 %
Schedule of Components of the Deferred Tax Assets and Liabilities
The components of the deferred tax assets and liabilities are as follows:
(dollars in thousands)December 31, 2025December 31, 2024
Deferred tax assets
Allowance for credit losses$12,709 $12,523 
Compensation related3,146 3,119 
Deferred loan fees965 692 
Nonaccrual interest632 673 
Goodwill— 
Net operating loss carryforward62 99 
Net unrealized losses on debt securities10,282 19,424 
Other purchase accounting adjustments2,952 4,012 
Other648 699 
Total deferred tax assets31,396 41,244 
Deferred tax liabilities
Fixed asset depreciation3,569 3,172 
Mortgage servicing rights4,699 5,224 
Intangible assets4,087 4,899 
Prepaid assets1,087 982 
Goodwill59 — 
Other655 532 
Total deferred tax liabilities14,156 14,809 
Net deferred tax asset$17,240 $26,435