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Income Taxes (Tables)

6 Months Ended

Jun. 30, 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 June 30,												Six Months Ended June 30,
(dollars in thousands)			2024						2023						2024						2023
Provision at statutory rate of 21%			$	32,861					$	42,510					$	64,943					$	81,995
Tax-exempt income:
Tax-exempt interest			(5,027)						(4,605)						(9,985)						(9,091)
Section 291/265 interest disallowance			957						532						1,841						918
Company-owned life insurance income			(1,178)						(945)						(1,872)						(1,572)
Tax-exempt income			(5,248)						(5,018)						(10,016)						(9,745)
State income taxes			6,333						8,552						11,480						16,693
Interim period effective rate adjustment			(70)						993						873						(723)
Tax credit investments - federal			(3,106)						(2,526)						(6,160)						(5,051)
Officer compensation limitation			1,491						1,040						2,256						2,080
Non-deductible FDIC premiums			2,032						2,037						3,779						4,147
Other, net			957						(195)						583						(582)
Income tax expense			$	35,250					$	47,393					$	67,738					$	88,814
Effective tax rate			22.5		%				23.4		%				21.9		%				22.8		%

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- References

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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://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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