XML 72 R22.htm IDEA: XBRL DOCUMENT
v2.4.0.6

INCOME TAXES | 12 Months Ended
--- | ---
Dec. 31, 2012
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES At December 31, income tax expense consisted of the following:
| 2012 |  | 2011 |  | 2010
Current tax expense |  |  |  |  |
Federal | $ | 85,875 |  |  | $ | 108,639 |  |  | $ | 127,025 |
State | 9,212 |  |  | 23,101 |  |  | 24,868 |
Total current tax expense | 95,087 |  |  | 131,740 |  |  | 151,893 |
Deferred tax benefit |  |  |  |  |
Federal | (27,344 | ) |  | (12,127 | ) |  | (33,333 | )
State | (7,921 | ) |  | (4,510 | ) |  | (8,042 | )
Total deferred tax benefit | (35,265 | ) |  | (16,637 | ) |  | (41,375 | )
Total income tax expense | $ | 59,822 |  |  | $ | 115,103 |  |  | $ | 110,518 |
Income tax expense differed from the amounts computed by applying the federal income tax rate of 35 percent to pretax income as a result of the following:
| 2012 |  | 2011 |  | 2010
Income taxes at statutory rates | $ | 67,959 |  |  | $ | 108,546 |  |  | $ | 106,247 |
Increase (reduction) in income taxes resulting from: |  |  |  |  |
Nontaxable income on loans, leases and investments, net of nondeductible expenses | (1,309 | ) |  | (1,481 | ) |  | (1,571 | )
State and local income taxes, including change in valuation allowance, net of federal income tax benefit | 839 |  |  | 12,084 |  |  | 10,937 |
Tax credits | (7,279 | ) |  | (5,166 | ) |  | (4,141 | )
Other, net | (388 | ) |  | 1,120 |  |  | (954 | )
Total income tax expense | $ | 59,822 |  |  | $ | 115,103 |  |  | $ | 110,518 |
The lower effective tax rates for 2012 result from recognition of a $6,449 income tax expense reduction resulting from the favorable outcome of state tax audits for the period 2008 through 2010, net of additional federal taxes. The net deferred tax asset included the following components at December 31:
| 2012 |  | 2011
Allowance for loan and lease losses | $ | 124,928 |  |  | $ | 105,788 |
Pension liability | 46,178 |  |  | 25,112 |
Executive separation from service agreements | 10,123 |  |  | 10,019 |
State operating loss carryforward | 652 |  |  | 1,350 |
Unrealized loss on cash flow hedge | 4,106 |  |  | 4,231 |
Other | 19,465 |  |  | 17,638 |
Gross deferred tax asset | 205,452 |  |  | 164,138 |
Less valuation allowance | — |  |  | 73 |
Deferred tax asset | 205,452 |  |  | 164,065 |
Accelerated depreciation | 12,465 |  |  | 14,494 |
Lease financing activities | 10,366 |  |  | 11,334 |
Net unrealized gains on securities included in accumulated other comprehensive loss | 13,292 |  |  | 10,450 |
Net deferred loan fees and costs | 3,714 |  |  | 3,420 |
Intangible asset | 11,897 |  |  | 11,681 |
Gain on FDIC-assisted transactions, deferred for tax purposes | 29,694 |  |  | 34,208 |
Other | 5,373 |  |  | 5,079 |
Deferred tax liability | 86,801 |  |  | 90,666 |
Net deferred tax asset | $ | 118,651 |  |  | $ | 73,399 |
No valuation allowance was necessary as of December 31, 2012, to reduce BancShares’ gross state deferred tax asset to the amount that is more likely than not to be realized. A valuation allowance of $73 was recorded at December 31, 2011. BancShares and its subsidiaries' federal income tax returns for 2009 through 2011 remain open for examination. Generally, the state jurisdictions in which BancShares files income tax returns are subject to examination for a period up to four years after returns are filed. Under GAAP, the benefit of a position taken or expected to be taken in a tax return should be recognized when it is more likely than not that the position will be sustained based on its technical merit. The liability for unrecognized tax benefits was not material at December 31, 2012, and 2011, and changes in the liability were not material during 2012, 2011 and 2010. BancShares does not expect the liability for unrecognized tax benefits to change significantly during 2013. BancShares recognizes interest and penalties, if any, related to income tax matters in income tax expense, and the amounts recognized during 2012, 2011 and 2010 were not material.

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration