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Income Taxes (Tables) | 9 Months Ended
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Sep. 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 September 30, |  | Nine Months Ended September 30,
(dollars in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Provision at statutory rate of 21% | $ | 38,867 |  |  | $ | 40,358 |  |  | $ | 103,810 |  |  | $ | 122,352 |
Tax-exempt income: |  |  |  |  |  |  |
Tax-exempt interest | (4,871) |  |  | (4,625) |  |  | (14,856) |  |  | (13,716) |
Section 291/265 interest disallowance | 927 |  |  | 675 |  |  | 2,768 |  |  | 1,593 |
Company-owned life insurance income | (1,089) |  |  | (743) |  |  | (2,961) |  |  | (2,315) |
Tax-exempt income | (5,033) |  |  | (4,693) |  |  | (15,049) |  |  | (14,438) |
State income taxes | 7,485 |  |  | 8,163 |  |  | 18,965 |  |  | 24,856 |
Interim period effective rate adjustment | 1,096 |  |  | 116 |  |  | 1,969 |  |  | (607) |
Tax credit investments - federal | (3,619) |  |  | (2,071) |  |  | (9,780) |  |  | (7,122) |
Officer compensation limitation | 765 |  |  | 1,040 |  |  | 3,021 |  |  | 3,120 |
Non-deductible FDIC premiums | 2,462 |  |  | 1,949 |  |  | 6,241 |  |  | 6,096 |
Other, net | (743) |  |  | (558) |  |  | (159) |  |  | (1,139) |
Income tax expense | $ | 41,280 |  |  | $ | 44,304 |  |  | $ | 109,018 |  |  | $ | 133,118 |
Effective tax rate | 22.3 | % |  | 23.1 | % |  | 22.1 | % |  | 22.9 | %

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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 + Details
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