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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | At December 31, income tax expense consisted of the following:
(Dollars in thousands) | 2016 |  | 2015 |  | 2014
Current tax expense |  |  |  |  |
Federal | $ | 84,946 |  |  | $ | 105,367 |  |  | $ | 84,430 |
State | 7,493 |  |  | 16,111 |  |  | 13,941 |
Total current tax expense | 92,439 |  |  | 121,478 |  |  | 98,371 |
Deferred tax expense (benefit) |  |  |  |  |
Federal | 23,144 |  |  | (2,758 | ) |  | (30,658 | )
State | 10,002 |  |  | 3,308 |  |  | (2,681 | )
Total deferred tax (benefit) expense | 33,146 |  |  | 550 |  |  | (33,339 | )
Total income tax expense | $ | 125,585 |  |  | $ | 122,028 |  |  | $ | 65,032 |
Schedule of Effective Income Tax Rate Reconciliation | 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:
(Dollars in thousands) | 2016 |  | 2015 |  | 2014
Income taxes at federal statutory rates | $ | 122,874 |  |  | $ | 116,345 |  |  | $ | 71,258 |
Increase (reduction) in income taxes resulting from: |  |  |  |  |
Nontaxable income on loans, leases and investments, net of nondeductible expenses | (2,901 | ) |  | (3,020 | ) |  | (1,832 | )
State and local income taxes, including change in valuation allowance, net of federal income tax benefit | 11,372 |  |  | 12,622 |  |  | 7,319 |
Acquisition stock settlement | (98 | ) |  | — |  |  | (10,185 | )
Tax credits net of amortization | (4,138 | ) |  | (3,060 | ) |  | (2,896 | )
Other, net | (1,524 | ) |  | (859 | ) |  | 1,368 |
Total income tax expense | $ | 125,585 |  |  | $ | 122,028 |  |  | $ | 65,032 |
Schedule of Deferred Tax Assets and Liabilities | The net deferred tax asset included the following components at December 31:
(Dollars in thousands) | 2016 |  | 2015
Allowance for loan and lease losses | $ | 80,939 |  |  | $ | 78,878 |
Pension liability | 15,679 |  |  | 7,206 |
Executive separation from service agreements | 14,278 |  |  | 9,856 |
State net operating loss carryforward | — |  |  | 21 |
Federal net operating loss carryforward from Cordia acquisition | 5,019 |  |  | — |
Unrealized loss on cash flow hedge | — |  |  | 537 |
Net unrealized loss on securities included in accumulated other comprehensive loss | 26,832 |  |  | 9,379 |
Accelerated depreciation | 133 |  |  | 13,195 |
FDIC assisted transactions timing differences | 52,579 |  |  | 66,456 |
Other reserves | 10,504 |  |  | 10,772 |
Other | 26,663 |  |  | 29,279 |
Deferred tax asset | 232,626 |  |  | 225,579 |
Lease financing activities | 11,651 |  |  | 15,492 |
Net deferred loan fees and costs | 10,867 |  |  | 6,051 |
Intangible assets | 6,335 |  |  | 2,040 |
Security, loan and debt valuations | 22,656 |  |  | 31,486 |
Other | 8,501 |  |  | 12,026 |
Deferred tax liability | 60,010 |  |  | 67,095 |
Net deferred tax asset | $ | 172,616 |  |  | $ | 158,484 |
Schedule of Unrecognized Tax Benefits | The following table provides a rollforward of Bancshares’ gross unrecognized tax benefits, excluding interest and penalties, during the years ended December 31:
(Dollars in thousands) | 2016 |  | 2015 |  | 2014
Unrecognized tax benefits at the beginning of the year | $ | 5,975 |  |  | $ | 3,865 |  |  | $ | 2,823 |
Reductions related to tax positions taken in prior year | (327 | ) |  | (79 | ) |  | — |
Additions related to tax positions taken in current year | 23,231 |  |  | 2,189 |  |  | 1,042 |
Settlements | — |  |  | — |  |  | — |
Unrecognized tax benefits at the end of the year | $ | 28,879 |  |  | $ | 5,975 |  |  | $ | 3,865 |

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