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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

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 statement of income:

			Years Ended December 31,
(dollars in thousands)			2024						2023						2022
Provision at statutory rate of 21%			$	142,892					$	157,774					$	114,394
Tax-exempt income:
Tax-exempt interest			(19,439)						(18,582)						(14,588)
Section 291/265 interest disallowance			3,620						2,392						363
Company-owned life insurance income			(4,428)						(3,125)						(2,891)
Tax-exempt income			(20,247)						(19,315)						(17,116)
State income taxes			19,619						31,164						20,837
Tax credit investments - federal			(14,829)						(12,190)						(9,140)
Officer compensation limitation			4,154						4,685						5,903
Non-deductible FDIC premiums			8,754						7,912						3,805
Other, net			907						(720)						(2,237)
Income tax expense			$	141,250					$	169,310					$	116,446
Effective tax rate			20.8		%				22.5		%				21.4		%

Schedule of Provision for Income Taxes

The provision for income taxes consisted of the following components:

			Years Ended December 31,
(dollars in thousands)			2024						2023						2022
Current expense:
Federal			$	99,532					$	121,428					$	106,918
State			21,317						37,331						32,898
Deferred expense:
Federal			14,956						7,941						(16,216)
State			5,445						2,610						(7,154)
Deferred income tax expense			20,401						10,551						(23,370)
Income tax expense			$	141,250					$	169,310					$	116,446

Schedule of Significant Components of Net Deferred Tax Assets (Liabilities)

Significant components of net deferred tax assets (liabilities) were as follows:

			December 31,
(dollars in thousands)			2024						2023
Deferred Tax Assets
Unrealized losses on available-for-sale investment securities			$	222,467					$	217,018
Allowance for credit losses on loans, net of recapture			105,475						86,224
Operating lease liabilities			57,495						57,996
Acquired loans			49,093						32,011
Benefit plan accruals			40,089						31,679
Unrealized losses on held-to-maturity investment securities			27,664						32,150
Net operating loss carryforwards			19,601						21,004
Purchase accounting			10,062						22,473
FDIC deductible premiums			3,766						4,891
Other, net			6,658						4,860
Total deferred tax assets			542,370						510,306
Deferred Tax Liabilities
Operating lease right-of-use assets			(52,441)						(52,710)
Premises and equipment			(13,358)						(12,141)
Loan servicing rights			(10,012)						(9,188)
Prepaid expenses			(3,982)						(3,856)
Tax credit investments and other partnerships			(2,310)						(785)
Unrealized gains on hedges			(1,505)						(3,202)
Deferred loan origination fees			—						(2,361)
Other, net			(2,315)						(2,803)
Total deferred tax liabilities			(85,923)						(87,046)
Net deferred tax assets			$	456,447					$	423,260

Schedule of Unrecognized Tax Benefits

The following table presents the changes in the carrying amount of unrecognized tax benefits:

			Years Ended December 31,
(dollars in thousands)			2024						2023						2022
Balance at beginning of period			$	9,955					$	11,007					$	—
Additions for acquired uncertain tax positions			—						—						14,897
Additions based on tax positions related to prior years			—						60						—
Reductions for tax positions relating to prior years			—						—						(2,751)
Reductions due to statute of limitations expiring			(2,961)						(1,112)						(1,139)
Balance at end of period			$	6,994					$	9,955					$	11,007

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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