v3.26.3
Income Taxes
 9 Months Ended
Sep. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income taxes
The following table presents a reconciliation of federal income taxes at the statutory federal rate of 21.0% to the Company’s effective tax rates for the three and nine months ended September 30, 2026:
Three Months Ended September 30,Nine Months Ended September 30,
2026 2026 
Federal taxes calculated at statutory rate$16,176 21.0 %$47,111 21.0 %
Increase (decrease) resulting from:
State taxes, net of federal benefit(1)
1,809 2.2 %5,796 2.6 %
State tax credits, net of federal benefit(1)
(590)(0.8)%(2,267)(1.0)%
New markets tax credit(160)(0.2)%(480)(0.2)%
Energy credits(938)(1.2)%(2,813)(1.2)%
Nondeductible/nontaxable items:
Municipal interest income, net of interest disallowance(467)(0.6)%(1,290)(0.6)%
Section 162(m) limitation123 0.2 %1,396 0.6 %
Other nondeductible/nontaxable items(101)(0.1)%14 — %
Other974 1.3 %484 0.2 %
Income tax expense, as reported$16,826 21.8 %$47,951 21.4 %
(1) The State of Tennessee represents more than 50% of total state taxes and state tax credits.
The following table presents a reconciliation of federal income taxes at the statutory federal rate of 21.0% to the Company's effective tax rates for the three and nine months ended September 30, 2025:
Three Months Ended September 30,Nine Months Ended September 30,
2025 2025 
Federal taxes calculated at statutory rate$6,217 21.0 %$14,427 21.0 %
Increase (decrease) resulting from:
State taxes, net of federal benefit125 0.4 %372 0.5 %
Benefit from stock-based compensation(29)(0.1)%(408)(0.6)%
Municipal interest income, net of interest disallowance(408)(1.4)%(1,221)(1.8)%
Bank-owned life insurance(151)(0.5)%(334)(0.5)%
Section 162(m) limitation110 0.4 %795 1.2 %
Expiration of the statute of limitations— — %(8,713)(12.7)%
Interest on refunds— — %(2,591)(3.8)%
Other363 1.2 %719 1.1 %
Income tax expense, as reported$6,227 21.0 %$3,046 4.4 %
For the nine months ended September 30, 2025, a one-time gross tax benefit of $10,713 was recognized due to the expiration of the statute of limitations with respect to an amended income tax return and the associated interest.