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Income Taxes (Tables)

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Summary of Differences in Taxes from Continuing Operations Computed at Statutory Rate

The 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 March 31,
(dollars in thousands)															2024						2023
Provision at statutory rate of 21%															$	32,082					$	39,484
Tax-exempt income:
Tax-exempt interest															(4,958)						(4,486)
Section 291/265 interest disallowance															885						386
Company-owned life insurance income															(694)						(627)
Tax-exempt income															(4,767)						(4,727)
State income taxes															5,147						8,142
Interim period effective rate adjustment															944						(1,717)
Tax credit investments - federal															(3,055)						(2,526)
Officer compensation limitation															765						1,040
Non-deductible FDIC premiums															1,747						2,110
Other, net															(375)						(385)
Income tax expense															$	32,488					$	41,421
Effective tax rate															21.3		%				22.0		%

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- References

No definition available.

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- 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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

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