XML 64 R47.htm IDEA: XBRL DOCUMENT v3.25.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Tax Expense

Income tax expense was as follows:

			2024						2023						2022
Current income tax expense			$	125,025					$	129,229					$	94,595
Deferred income tax expense (benefit)			(11,600)						(14,829)						(4,918)
Income tax expense, as reported			$	113,425					$	114,400					$	89,677
Effective tax rate			16.3		%				16.1		%				13.4		%

Income Tax Computed by Applying U.S. Federal Statutory Income Tax Rate

A reconciliation between reported income tax expense and the amounts computed by applying the U.S. federal statutory income tax rate of 21% to income before income taxes is presented in the following table.

			2024						2023						2022
Income tax expense computed at the statutory rate			$	146,153					$	149,598					$	140,454
Effect of tax-exempt interest			(38,498)						(43,114)						(50,602)
Net tax benefit from stock-based compensation			(3,795)						(894)						(4,602)
Tax benefit on dividends paid in our 401k plan			(2,281)						(2,135)						(1,854)
Non-deductible FDIC premiums			5,943						5,263						3,277
Non-deductible meals and entertainment			1,861						1,692						683
Non-deductible compensation			1,629						2,591						2,250
Other			2,413						1,399						71
Income tax expense, as reported			$	113,425					$	114,400					$	89,677

Schedule of Deferred Tax Assets and Liabilities

Year-end deferred taxes are presented in the table below. Deferred taxes are based on the U.S. statutory federal income tax rate of 21%.

			2024						2023
Deferred tax assets:
Net unrealized loss on securities available for sale and transferred securities			$	327,184					$	291,023
Allowance for credit losses			67,697						62,592
Lease liabilities under operating leases			64,691						66,442
Bonus accrual			13,753						9,680
FDIC deposit insurance special assessment			8,647						9,468
Stock-based compensation			6,321						7,712
Net actuarial loss on defined benefit post-retirement benefit plans			5,630						6,493
Deferred loan and lease origination fees			3,990						4,129
Other			6,496						5,892
Total gross deferred tax assets			504,409						463,431
Deferred tax liabilities:
Right-of-use assets under operating leases			(56,759)						(58,905)
Premises and equipment			(38,352)						(42,640)
Intangible assets			(18,048)						(18,106)
Defined benefit post-retirement benefit plans			(13,591)						(13,073)
Other			(2,422)						(2,368)
Total gross deferred tax liabilities			(129,172)						(135,092)
Net deferred tax asset (liability)			$	375,237					$	328,339

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration