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Income Taxes | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes Income tax expense was as follows:
| 2014 |  | 2013 |  | 2012
Current income tax expense | $ | 62,177 |  |  | $ | 49,736 |  |  | $ | 76,928 |
Deferred income tax expense (benefit) | (4,130 | ) |  | 3,279 |  |  | (6,405 | )
Income tax expense, as reported | $ | 58,047 |  |  | $ | 53,015 |  |  | $ | 70,523 |
Reported income tax expense differed from the amounts computed by applying the U.S. federal statutory income tax rate of 35% to income before income taxes as follows:
| 2014 |  | 2013 |  | 2012
Income tax expense computed at the statutory rate | $ | 117,608 |  |  | $ | 101,808 |  |  | $ | 107,966 |
Effect of tax-exempt interest | (58,761 | ) |  | (46,535 | ) |  | (36,543 | )
Bank owned life insurance income | (1,116 | ) |  | (1,086 | ) |  | (1,413 | )
Other | 316 |  |  | (1,172 | ) |  | 513 |
Income tax expense, as reported | $ | 58,047 |  |  | $ | 53,015 |  |  | $ | 70,523 |
Year-end deferred taxes were as follows:
| 2014 |  | 2013
Deferred tax assets: |  |  |
Allowance for loan losses | $ | 34,840 |  |  | $ | 32,353 |
Net actuarial loss on defined benefit post-retirement benefit plans | 26,263 |  |  | 14,070 |
Stock-based compensation | 18,839 |  |  | 17,746 |
Bonus accrual | 6,118 |  |  | 5,301 |
Gain on sale of assets | 2,139 |  |  | 2,234 |
Partnerships | 1,911 |  |  | 2,208 |
Transaction costs | 1,794 |  |  | 565 |
Other | 5,272 |  |  | 4,489 |
Total gross deferred tax assets | 97,176 |  |  | 78,966 |
Deferred tax liabilities: |  |  |
Net unrealized gain on securities available for sale and effective cash flow hedging derivatives | (102,626 | ) |  | (89,689 | )
Premises and equipment | (20,039 | ) |  | (21,192 | )
Defined benefit post-retirement benefit plans | (15,010 | ) |  | (14,137 | )
Intangible assets | (6,143 | ) |  | (7,253 | )
Leases | (4,952 | ) |  | (4,237 | )
Reserve for medical insurance | (3,017 | ) |  | (2,171 | )
Prepaid expenses | (1,639 | ) |  | (1,618 | )
Other | (341 | ) |  | (1,456 | )
Total gross deferred tax liabilities | (153,767 | ) |  | (141,753 | )
Net deferred tax asset (liability) | $ | (56,591 | ) |  | $ | (62,787 | )
No valuation allowance for deferred tax assets was recorded at December 31, 2014 and 2013 as management believes it is more likely than not that all of the deferred tax assets will be realized because they were supported by recoverable taxes paid in prior years. There were no unrecognized tax benefits during any of the reported periods. The Corporation files income tax returns in the U.S. federal jurisdiction. The Company is no longer subject to U.S. federal income tax examinations by tax authorities for years before 2011.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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