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Income Taxes (Tables)

9 Months Ended

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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- 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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