XML 58 R47.htm IDEA: XBRL DOCUMENT
v3.21.2

Income Taxes (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Income Tax Disclosure [Abstract] |
Summary of Differences in Taxes from Continuing Operations Computed at Statutory Rate | Following is a summary of the major items comprising the differences in taxes from continuing operations computed at the federal statutory rate and as recorded in the consolidated statements of income:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(dollars in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Provision at statutory rate of 21% | $ | 18,779 |  |  | $ | 18,920 |  |  | $ | 56,830 |  |  | $ | 37,200 |
Tax-exempt income: |  |  |  |  |  |  |
Tax-exempt interest | (2,786) |  |  | (2,682) |  |  | (8,327) |  |  | (7,985) |
Section 291/265 interest disallowance | 28 |  |  | 36 |  |  | 92 |  |  | 153 |
Company-owned life insurance income | (483) |  |  | (386) |  |  | (1,582) |  |  | (1,657) |
Tax-exempt income | (3,241) |  |  | (3,032) |  |  | (9,817) |  |  | (9,489) |
State income taxes | 2,282 |  |  | 656 |  |  | 7,455 |  |  | 2,367 |
Interim period effective rate adjustment | 1,077 |  |  | (2,501) |  |  | (1,360) |  |  | 840 |
Tax credit investments - federal | (315) |  |  | (2,575) |  |  | (2,838) |  |  | (6,296) |
Other, net | (902) |  |  | 686 |  |  | (1,000) |  |  | 232 |
Income tax expense | $ | 17,680 |  |  | $ | 12,154 |  |  | $ | 49,270 |  |  | $ | 24,854 |
Effective tax rate | 19.8 | % |  | 13.5 | % |  | 18.2 | % |  | 14.0 | %
Schedule of Significant Components of Net Deferred Tax Assets (Liabilities) | Significant components of net deferred tax assets (liabilities) were as follows:
(dollars in thousands) | September 30, 2021 |  | December 31, 2020
Deferred Tax Assets |  |  |
Allowance for credit losses, net of recapture | $ | 28,791 |  |  | $ | 34,971 |
Benefit plan accruals | 15,579 |  |  | 20,076 |
Net operating loss carryforwards | 14,823 |  |  | 18,982 |
Deferred gain on securities | 1,334 |  |  | 2,102 |
Acquired loans | 8,949 |  |  | 11,989 |
Operating lease liabilities | 22,959 |  |  | 24,245 |
Tax credit investments and other partnerships | 494 |  |  | 1,054 |
Other, net | 942 |  |  | 488 |
Total deferred tax assets | 93,871 |  |  | 113,907 |
Deferred Tax Liabilities |  |  |
Purchase accounting | (18,524) |  |  | (18,232) |
Loan servicing rights | (7,179) |  |  | (6,582) |
Premises and equipment | (14,550) |  |  | (14,008) |
Prepaid expenses | (953) |  |  | (955) |
Operating lease right-of-use assets | (21,106) |  |  | (21,569) |
Unrealized gains on available-for-sale investment securities | (14,590) |  |  | (40,756) |
Unrealized gains on hedges | (628) |  |  | (1,080) |
Other, net | (1,561) |  |  | (1,555) |
Total deferred tax liabilities | (79,091) |  |  | (104,737) |
Net deferred tax assets | $ | 14,780 |  |  | $ | 9,170 |

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 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