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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Components of provision for income taxes | The following table presents the components of income tax expense for the years indicated:
($ in thousands) |  | Year Ended December 31,
| 2015 |  | 2014 |  | 2013
Current income tax (benefit) expense: |  |  |  |  |  |  |  |  |
Federal |  | $ | (62,829 | ) |  | $ | 174,640 |  |  | $ | 152,061 |
State |  | (4,750 | ) |  | 70,527 |  |  | 44,389 |
Foreign |  | 409 |  |  | 3,846 |  |  | 208 |
Total current income tax (benefit) expense |  | (67,170 | ) |  | 249,013 |  |  | 196,658 |
Deferred income tax expense (benefit): |  |  |  |  |  |  |  |  |
Federal |  | 199,858 |  |  | (111,122 | ) |  | (31,293 | )
State |  | 60,437 |  |  | (36,040 | ) |  | (13,155 | )
Foreign |  | 919 |  |  | (706 | ) |  | 1,612 |
Total deferred income tax expense (benefit) |  | 261,214 |  |  | (147,868 | ) |  | (42,836 | )
Income tax expense (1) |  | $ | 194,044 |  |  | $ | 101,145 |  |  | $ | 153,822 |
(1) | Prior periods were restated to reflect the retrospective application of adopting the new accounting guidance related to the Company’s investments in qualified affordable housing projects ASU 2014-01. Please see Note 9 — Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Net to the Consolidated Financial Statements for additional information.
Difference between the effective tax rate implicit in the consolidated financial statements and the statutory federal income tax rate | The difference between the effective tax rate implicit in the Consolidated Financial Statements and the statutory federal income tax rate can be attributed to the following:
|  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013
Federal income tax provision at statutory rate |  | 35.0 | % |  | 35.0 | % |  | 35.0 | %
State franchise taxes, net of federal tax effect |  | 6.3 |  |  | 5.0 |  |  | 4.6 |
Tax credits |  | (8.7 | ) |  | (16.7 | ) |  | (4.8 | )
Other, net |  | 0.9 |  |  | (0.7 | ) |  | (0.4 | )
Effective income tax rate (1) |  | 33.5 | % |  | 22.6 | % |  | 34.4 | %
(1) | Prior periods were restated to reflect the retrospective application of adopting the new accounting guidance related to the Company’s investments in qualified affordable housing projects ASU 2014-01. Please see Note 9 — Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Net to the Consolidated Financial Statements for additional information.
Tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) | The tax effects of temporary differences that give rise to significant portions of the deferred tax (liabilities) assets are presented below:
($ in thousands) |  | December 31,
| 2015 |  | 2014
| Federal |  | State |  | Foreign |  | Total |  | Federal |  | State |  | Foreign |  | Total
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Core deposit intangibles |  | $ | (12,588 | ) |  | $ | (3,616 | ) |  | $ | — |  |  | $ | (16,204 | ) |  | $ | (15,748 | ) |  | $ | (4,513 | ) |  | $ | — |  |  | $ | (20,261 | )
Fixed assets |  | (15,167 | ) |  | (4,093 | ) |  | — |  |  | (19,260 | ) |  | (16,615 | ) |  | (4,101 | ) |  | — |  |  | (20,716 | )
FHLB stock |  | (2,229 | ) |  | (618 | ) |  | — |  |  | (2,847 | ) |  | (5,064 | ) |  | (1,475 | ) |  | — |  |  | (6,539 | )
Deferred loan fees |  | (1,198 | ) |  | (332 | ) |  | — |  |  | (1,530 | ) |  | (1,587 | ) |  | (454 | ) |  | — |  |  | (2,041 | )
Purchased loan discounts |  | — |  |  | — |  |  | — |  |  | — |  |  | (51 | ) |  | (15 | ) |  | — |  |  | (66 | )
State taxes |  | (912 | ) |  | — |  |  | — |  |  | (912 | ) |  | (8,244 | ) |  | — |  |  | — |  |  | (8,244 | )
Gain from FDIC-assisted acquisition |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,063 | ) |  | (64 | ) |  | — |  |  | (2,127 | )
Acquired debt |  | (2,295 | ) |  | (637 | ) |  | — |  |  | (2,932 | ) |  | (2,237 | ) |  | 1,369 |  |  | — |  |  | (868 | )
Acquired loans and OREO |  | (7,222 | ) |  | (1,714 | ) |  | (406 | ) |  | (9,342 | ) |  | — |  |  | — |  |  | — |  |  | — |
Other, net |  | (1,740 | ) |  | (883 | ) |  | — |  |  | (2,623 | ) |  | (1,652 | ) |  | (473 | ) |  | — |  |  | (2,125 | )
Total gross deferred tax (liabilities) |  | (43,351 | ) |  | (11,893 | ) |  | (406 | ) |  | (55,650 | ) |  | (53,261 | ) |  | (9,726 | ) |  | — |  |  | (62,987 | )
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tax credit and other investments (1) |  | (1,250 | ) |  | 3,894 |  |  | — |  |  | 2,644 |  |  | 5,523 |  |  | 6,349 |  |  | — |  |  | 11,872 |
Allowance for loan losses and OREO reserves |  | 102,382 |  |  | 28,686 |  |  | 1,153 |  |  | 132,221 |  |  | 93,749 |  |  | 23,615 |  |  | 1,409 |  |  | 118,773 |
NOL carryforwards |  | — |  |  | 282 |  |  | — |  |  | 282 |  |  | — |  |  | 749 |  |  | — |  |  | 749 |
Deferred compensation |  | 21,484 |  |  | 6,028 |  |  | — |  |  | 27,512 |  |  | 16,505 |  |  | 4,785 |  |  | — |  |  | 21,290 |
Mortgage servicing assets |  | 875 |  |  | 243 |  |  | — |  |  | 1,118 |  |  | 2,570 |  |  | 735 |  |  | — |  |  | 3,305 |
Purchased loan premium |  | 172 |  |  | 48 |  |  | — |  |  | 220 |  |  | 292 |  |  | 84 |  |  | — |  |  | 376 |
Unrealized loss on securities |  | 4,685 |  |  | 1,279 |  |  | — |  |  | 5,964 |  |  | 42,737 |  |  | 12,638 |  |  | — |  |  | 55,375 |
FDIC receivable & clawback |  | — |  |  | — |  |  | — |  |  | — |  |  | 36,630 |  |  | 11,736 |  |  | — |  |  | 48,366 |
Acquired loans and OREO |  | — |  |  | — |  |  | — |  |  | — |  |  | 139,360 |  |  | 36,678 |  |  | 256 |  |  | 176,294 |
Nonaccrual interest income |  | 4,124 |  |  | 1,144 |  |  | — |  |  | 5,268 |  |  | 356 |  |  | 102 |  |  | — |  |  | 458 |
Other, net |  | 12,905 |  |  | 3,573 |  |  | 96 |  |  | 16,574 |  |  | 11,833 |  |  | 4,116 |  |  | 97 |  |  | 16,046 |
Total gross deferred tax assets (1) |  | 145,377 |  |  | 45,177 |  |  | 1,249 |  |  | 191,803 |  |  | 349,555 |  |  | 101,587 |  |  | 1,762 |  |  | 452,904 |
Valuation allowance |  | — |  |  | (282 | ) |  | — |  |  | (282 | ) |  | — |  |  | (316 | ) |  | — |  |  | (316 | )
Net deferred tax assets (1) |  | $ | 102,026 |  |  | $ | 33,002 |  |  | $ | 843 |  |  | $ | 135,871 |  |  | $ | 296,294 |  |  | $ | 91,545 |  |  | $ | 1,762 |  |  | $ | 389,601 |
(1) | Prior period was restated to reflect the retrospective application of adopting the new accounting guidance related to the Company’s investments in qualified affordable housing projects ASU 2014-01. Please see Note 9 — Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Net to the Consolidated Financial Statements for additional information.
Summary of the activity related to unrecognized tax benefits | The following table summarizes the activity related to the Company’s unrecognized tax benefits:
($ in thousands) |  | Year Ended December 31,
| 2015 |  | 2014
Beginning Balance |  | $ | 5,020 |  |  | $ | 4,677 |
Additions for tax positions of prior years |  | 2,105 |  |  | 343 |
Reductions for tax positions of prior years |  | — |  |  | — |
Additions for tax positions of current year |  | — |  |  | — |
Settlements |  | — |  |  | — |
Ending Balance |  | $ | 7,125 |  |  | $ | 5,020 |

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- Definition Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: 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 + Details
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