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Federal and State Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Summary of consolidated income tax expense | The following table is a summary of consolidated income tax expense:
| Years ended
(Dollars in thousands) | December 31, 2017 |  | December 31, 2016 |  | December 31, 2015
Current |  |  |  |  |
Federal | $ | 29,555 |  |  | 30,461 |  |  | 28,705 |
State | 9,183 |  |  | 9,283 |  |  | 9,374 |
Total current income tax expense | 38,738 |  |  | 39,744 |  |  | 38,079 |
Deferred 1 |  |  |  |  |
Federal | 22,246 |  |  | (70 | ) |  | (3,451 | )
State | 3,641 |  |  | (12 | ) |  | (629 | )
Total deferred income tax expense (benefit) | 25,887 |  |  | (82 | ) |  | (4,080 | )
Total income tax expense | $ | 64,625 |  |  | 39,662 |  |  | 33,999 |
______________________________
1 | Includes tax benefit of operating loss carryforwards of $644,000, $571,000 and $391,000 for the years ended December 31, 2017, 2016, and 2015, respectively.
Summary of effective tax rate | Combined federal and state income tax expense differs from that computed at the federal statutory corporate tax rate as follows:
| Years ended
| December 31, 2017 |  | December 31, 2016 |  | December 31, 2015
Federal statutory rate | 35.0 | % |  | 35.0 | % |  | 35.0 | %
State taxes, net of federal income tax benefit | 4.6 | % |  | 3.8 | % |  | 3.7 | %
Tax rate change | 10.9 | % |  | — | % |  | — | %
Tax-exempt interest income | (10.5 | )% |  | (12.2 | )% |  | (12.6 | )%
Tax credits | (3.2 | )% |  | (2.1 | )% |  | (3.0 | )%
Other, net | (1.1 | )% |  | 0.2 | % |  | (0.5 | )%
Effective tax rate | 35.7 | % |  | 24.7 | % |  | 22.6 | %
Summary of net deferred tax asset | The tax effect of temporary differences which give rise to a significant portion of deferred tax assets and deferred tax liabilities are as follows:
(Dollars in thousands) | December 31, 2017 |  | December 31, 2016
Deferred tax assets |  |  |
Allowance for loan and lease losses | $ | 32,890 |  |  | 50,172 |
Deferred compensation | 5,640 |  |  | 8,320 |
Other real estate owned | 5,126 |  |  | 8,309 |
Acquisition fair market value adjustments | 4,139 |  |  | 4,763 |
Net operating loss carryforwards | 2,841 |  |  | 4,737 |
Employee benefits | 2,615 |  |  | 3,927 |
Interest rate swap agreements | 2,379 |  |  | 5,705 |
Other | 3,673 |  |  | 5,569 |
Total gross deferred tax assets | 59,303 |  |  | 91,502 |
Deferred tax liabilities |  |  |
Deferred loan costs | (5,854 | ) |  | (8,061 | )
Intangibles | (4,161 | ) |  | (5,477 | )
Depreciation of premises and equipment | (2,863 | ) |  | (3,111 | )
FHLB stock dividends | (2,602 | ) |  | (3,976 | )
Available-for-sale securities | (1,707 | ) |  | (1,036 | )
Debt modification costs | (1,591 | ) |  | — |
Other | (2,181 | ) |  | (2,720 | )
Total gross deferred tax liabilities | (20,959 | ) |  | (24,381 | )
Net deferred tax asset | $ | 38,344 |  |  | 67,121 |
Income tax return jurisdictions and years subject to examination | The following schedule summarizes the years that remain subject to examination as of December 31, 2017:
| Years ended December 31,
Federal | 2013, 2014, 2015 and 2016
Montana | 2014, 2015 and 2016
Idaho | 2014, 2015 and 2016
Utah | 2014, 2015 and 2016
Colorado | 2013, 2014, 2015 and 2016
Arizona | 2013, 2014, 2015 and 2016

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- 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/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded. + 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=84230637&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=96868398&loc=d3e36027-109320 + Details
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