XML 70 R52.htm IDEA: XBRL DOCUMENT v3.22.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Taxes

Schedule of provision for income taxes

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(Dollars in thousands)	​	2021		​	2020		​	2019
Current:		​			​			​		​
Federal	​	$	43,959	​	$	16,245	​	$	40,375	​
State	​		16,512	​		13,296	​		4,965	​
Total current tax expense	​		60,471	​		29,541	​		45,340	​
Deferred:	​	​	​	​	​	​	​	​	​	​
Federal	​		61,521	​		(36,801)	​		(1,598)	​
State	​		6,744	​		(9,400)	​		200	​
Total deferred tax expense (benefit)	​		68,265	​		(46,201)	​		(1,398)	​
Provision (benefit) for income taxes	​	$	128,736	​	$	(16,660)	​	$	43,942	​

Analysis of difference between the provision for income taxes and taxes computed by applying the federal statutory income tax rate to income before provision for income taxes

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(Dollars in thousands)	​	2021		​	2020		​	2019
Income taxes at federal statutory rate		$	126,899		$	21,834		$	48,389	​
Increase (reduction) of taxes resulting from:	​	​	​	​	​	​	​	​	​	​
State income taxes, net of federal tax benefit	​		18,372	​		3,077	​		4,080	​
Non-deductible merger expenses	​	​	—	​	​	1,344	​	​	—	​
Increase in cash surrender value of BOLI policies	​	​	(3,866)	​	​	(2,389)	​	​	(1,210)	​
Tax-exempt interest	​		(5,450)	​		(2,257)	​		(1,877)	​
Income tax credits	​		(11,759)	​		(7,138)	​		(6,881)	​
Non-deductible FDIC premiums	​	​	2,380	​	​	1,364	​	​	133	​
Non-deductible executive compensation	​	​	530	​	​	1,016	​	​	315	​
Benefit of tax loss carryback under CARES Act	​	​	—	​	​	(31,468)	​	​	—	​
Other, net	​		1,630	​		(2,043)	​		993	​
​	​	$	128,736	​	$	(16,660)	​	$	43,942	​

Schedule of components of the net deferred tax asset

​

​	​	​	​	​	​	​	​
​	​	December 31,
(Dollars in thousands)	​	2021		​	2020
Allowance for credit losses		$	81,767		$	119,602	​
Other-than-temporary impairment on SBIC investments	​		—	​		268	​
Share-based compensation	​		6,290	​		2,807	​
Pension plan and post-retirement benefits	​		752	​		516	​
Deferred compensation	​		14,437	​		13,671	​
Purchase accounting adjustments	​		—	​		11,772	​
Other real estate owned	​		1,577	​		899	​
Net operating loss and tax credit carryforwards	​		20,659	​		26,229	​
Deferred loan fees and costs	​	​	—	​	​	12,826	​
Nonaccrual Interest	​	​	88	​	​	3,141	​
Lease liability	​	​	28,514	​	​	28,179	​
Mark to market assets	​		11,788	​		—	​
Unrealized losses on investment securities available for sale	​	​	6,691	​	​	—	​
Other	​		719	​		603	​
Total deferred tax assets	​		173,282	​		220,513	​
Unrealized gains on investment securities available for sale	​		—	​		13,026	​
Depreciation	​		21,028	​		18,326	​
Intangible assets	​		27,732	​		34,648	​
Net deferred loan costs	​		3,579	​		—	​
Right of use assets	​	​	27,136	​	​	27,012	​
Prepaid expense	​		725	​		1,950	​
Tax deductible goodwill	​		5,994	​		1,302	​
Mortgage servicing rights	​	​	16,100	​	​	6,134	​
Purchase accounting adjustments	​	​	890	​	​	—	​
Other	​		302	​		1,534	​
Total deferred tax liabilities	​		103,486	​		103,932	​
Net deferred tax assets before valuation allowance	​		69,796	​		116,581	​
Less, valuation allowance	​		(4,832)	​		(5,635)	​
Net deferred tax assets	​	$	64,964	​	$	110,946	​

X

- References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration