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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of components of income tax expenses | The following table presents the components of income tax expense for the years ended December 31, 2019, 2018 and 2017:
($ in thousands) |  | Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Current income tax expense (benefit): |  |  |  |  |  |
Federal |  | $ | 107,393 |  |  | $ | 63,035 |  |  | $ | 120,968 |
State |  | 86,578 |  |  | 64,917 |  |  | 72,837 |
Foreign |  | (2,485 | ) |  | 3,513 |  |  | 1,815 |
Total current income tax expense |  | 191,486 |  |  | 131,465 |  |  | 195,620 |
Deferred income tax (benefit) expense: |  |  |  |  |  |
Federal |  | (8,801 | ) |  | (11,870 | ) |  | 40,057 |
State |  | (16,390 | ) |  | (4,600 | ) |  | (6,201 | )
Foreign |  | 3,587 |  |  | — |  |  | — |
Total deferred income tax (benefit) expense |  | (21,604 | ) |  | (16,470 | ) |  | 33,856 |
Income tax expense |  | $ | 169,882 |  |  | $ | 114,995 |  |  | $ | 229,476 |
Schedule of reconciliation of the federal statutory rate to the effective income tax rate | The following table presents the reconciliation of the federal statutory rate to the Company’s effective tax rate for the years ended December 31, 2019, 2018 and 2017:
|  | Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Statutory U.S. federal tax rate |  | 21.0 | % |  | 21.0 | % |  | 35.0 | %
U.S. state income taxes, net of U.S. federal income tax effect |  | 7.1 |  |  | 5.8 |  |  | 5.9 |
The Tax Act |  | — |  |  | 0.1 |  |  | 4.5 |
Tax credits and affordable housing, net of amortization |  | (10.4 | ) |  | (13.3 | ) |  | (15.1 | )
Other, net |  | 2.4 |  |  | 0.4 |  |  | 0.9 |
Effective tax rate |  | 20.1 | % |  | 14.0 | % |  | 31.2 | %
Schedule of tax effects of temporary differences that give rise to a significant portion of the deferred tax assets and liabilities | The tax effects of temporary differences that give rise to a significant portion of deferred tax assets and liabilities as of December 31, 2019 and 2018 are presented below:
($ in thousands) |  | December 31,
| 2019 |  | 2018
Deferred tax assets: |  |  |  |
Allowance for loan losses |  | $ | 109,903 |  |  | $ | 96,876 |
Investments in qualified affordable housing partnerships, tax credit and other investments, net |  | 11,190 |  |  | 3,691 |
Deferred compensation |  | 23,816 |  |  | 18,724 |
Interest income on nonaccrual loans |  | 9,527 |  |  | 8,602 |
State taxes |  | 5,848 |  |  | 4,506 |
Unrealized gains/losses on securities |  | 324 |  |  | 20,233 |
Tax credit carryforwards |  | — |  |  | 26,831 |
Premises and equipment |  | 1,578 |  |  | 1,887 |
Deferred gain |  | — |  |  | 4,476 |
Lease liability |  | 35,948 |  |  | 2,604 |
Other |  | 641 |  |  | 6,178 |
Total gross deferred tax assets |  | 198,775 |  |  | 194,608 |
Valuation allowance |  | (21 | ) |  | (128 | )
Total deferred tax assets, net of valuation allowance |  | $ | 198,754 |  |  | $ | 194,480 |
Deferred tax liabilities: |  |  |  |
Equipment lease financing |  | $ | 30,669 |  |  | $ | 30,523 |
Investments in qualified affordable housing partnerships, tax credit and other investments, net |  | 12,301 |  |  | 30,706 |
Core deposit intangibles |  | 3,032 |  |  | 4,427 |
FHLB stock dividends |  | 1,854 |  |  | 1,866 |
Mortgage servicing assets |  | 1,839 |  |  | 2,390 |
Acquired debt |  | 1,679 |  |  | 1,771 |
Prepaid expenses |  | 1,100 |  |  | 1,207 |
Premises and equipment |  | 1,890 |  |  | 1,078 |
Operating lease right-of-use assets |  | 34,313 |  |  | — |
Other |  | 3,590 |  |  | 2,872 |
Total gross deferred tax liabilities |  | $ | 92,267 |  |  | $ | 76,840 |
Net deferred tax assets |  | $ | 106,487 |  |  | $ | 117,640 |
Summary of reconciliation of the beginning and ending amount of unrecognized tax benefits | The following table presents a reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2019, 2018 and 2017:
($ in thousands) |  | Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Beginning balance |  | $ | 4,378 |  |  | $ | 10,419 |  |  | $ | 10,419 |
Additions for tax positions related to prior years |  | 30,103 |  |  | — |  |  | — |
Deductions for tax positions related to prior years |  | (34,481 | ) |  | (3,969 | ) |  | — |
Settlements with taxing authorities |  | — |  |  | (2,072 | ) |  | — |
Ending balance |  | $ | — |  |  | $ | 4,378 |  |  | $ | 10,419 |

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