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Income Taxes | 12 Months Ended
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Dec. 31, 2016
Income Taxes [Abstract] |
Income Taxes | Note 12. Income Taxes ﻿ Income tax expense included in net income consisted of the following components: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Years Ended December 31,
﻿(in thousands) |  | 2016 |  | 2015 |  | 2014
﻿Included in net income |  |  |  |  |  |  |  |  |
﻿Current federal |  | $ | 43,777 |  | $ | 17,378 |  | $ | 41,441
﻿Current state |  |  | 1,689 |  |  | 4,241 |  |  | 1,487
﻿Total current provision |  |  | 45,466 |  |  | 21,619 |  |  | 42,928
﻿Deferred federal |  |  | (6,127) |  |  | 15,457 |  |  | 21,483
﻿Deferred state |  |  | (1,712) |  |  | 1,228 |  |  | 2,054
﻿Total deferred provision |  |  | (7,839) |  |  | 16,685 |  |  | 23,537
﻿Total included in net income |  | $ | 37,627 |  | $ | 38,304 |  | $ | 66,465
﻿ Income tax expense does not reflect the tax effects of amounts recognized in other comprehensive income and in AOCI, a separate component of stockholder’s equity. These amounts include unrealized gains and losses on securities available for sale or transferred to held to maturity, unrealized gains and losses on derivatives and hedging transactions, and valuation adjustments of defined benefit and other post-retirement benefit plans. Refer to Note 10 for additional information on stockholder’s equity and AOCI. ﻿ Income tax expense(benefit) resulting from stock transactions under the company’s stock based compensation plans are reflected in capital surplus, a component of stockholder’s equity. The amounts impacting capital surplus for the years 2016, 2015 and 2014 were a decrease of $0.4 million, an increase of $0.2 million and an increase of $0.9 million, respectively. ﻿ Temporary differences arise between the tax bases of assets or liabilities and their carrying amounts for financial reporting purposes. The expected tax effects when these differences are resolved are recorded currently as deferred tax assets or liabilities. ﻿ Significant components of the Company’s deferred tax assets and liabilities were as follows: ﻿ ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | December 31,
﻿(in thousands) |  | 2016 |  | 2015
﻿Deferred tax assets: |  |  |  |  |  |
﻿Allowance for loan losses |  | $ | 89,120 |  | $ | 72,940
﻿Employee compensation and benefits |  |  | 28,401 |  |  | 26,853
﻿Loan purchase accounting adjustments |  |  | 12,047 |  |  | 18,977
﻿Tax credit carryforward |  |  | 29,085 |  |  | 42,850
﻿Securities |  |  | 23,169 |  |  | 5,038
﻿State net operating loss |  |  | 1,690 |  |  | 1,910
﻿Other |  |  | 14,583 |  |  | 10,928
﻿Gross deferred tax assets |  |  | 198,095 |  |  | 179,496
﻿State valuation allowance |  |  | (1,690) |  |  | (1,910)
﻿Subtotal valuation allowance |  |  | (1,690) |  |  | (1,910)
﻿Net deferred tax assets |  |  | 196,405 |  |  | 177,586
﻿Deferred tax liabilities: |  |  |  |  |  |
﻿Fixed assets & intangibles |  |  | (74,518) |  |  | (80,389)
﻿FDIC indemnification asset |  |  | (6,293) |  |  | (10,688)
﻿Other |  |  | (11,159) |  |  | (10,679)
﻿Gross deferred tax liabilities |  |  | (91,970) |  |  | (101,756)
﻿Net deferred tax asset |  | $ | 104,435 |  | $ | 75,830
﻿ Reported income tax expense differed from amounts computed by applying the statutory income tax rate of 35% to earnings before income taxes. The primary differences are due to tax-exempt income and federal and state tax credits. The main source of tax credits has been investments in tax-advantaged securities and tax credit projects. These investments are made primarily in the markets the Company serves and are directed at tax credits issued under the Qualified Zone Academy Bonds (QZAB), Qualified School Construction Bonds (QSCB), as well as Federal and State New Market Tax Credit (NMTC) and Low-Income Housing Tax Credit (LIHTC) programs. The investments generate tax credits which reduce current and future taxes and are recognized when earned as a benefit in the provision for income taxes. A summary of the factors that impacted income tax expense follows: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Years Ended December 31,
﻿ |  | 2016 |  | 2015 |  | 2014
﻿($ in thousands) |  | Amount |  | % |  | Amount |  | % |  | Amount |  | %
﻿Taxes computed at statutory rate |  | $ | 65,423 |  | 35.0 | % |  | $ | 59,418 |  | 35.0 | % |  | $ | 84,766 |  | 35.0 | %
﻿Increases (decreases) in taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿State income taxes, net of federal income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ tax benefit |  |  | 1,917 |  | 1.0 |  |  |  | 2,595 |  | 1.5 |  |  |  | 4,649 |  | 1.9 |
﻿Tax-exempt interest |  |  | (14,497) |  | (7.8) |  |  |  | (7,849) |  | (4.6) |  |  |  | (6,301) |  | (2.6) |
﻿Bank owned life insurance |  |  | (4,833) |  | (2.6) |  |  |  | (3,798) |  | (2.2) |  |  |  | (3,554) |  | (1.5) |
﻿Tax credits |  |  | (10,518) |  | (5.6) |  |  |  | (12,495) |  | (7.4) |  |  |  | (16,577) |  | (6.8) |
﻿Other, net |  |  | 135 |  | 0.1 |  |  |  | 433 |  | 0.3 |  |  |  | 3,482 |  | 1.4 |
﻿Income tax expense |  | $ | 37,627 |  | 20.1 | % |  | $ | 38,304 |  | 22.6 | % |  | $ | 66,465 |  | 27.4 | %
﻿ As of December 31, 2016, the Company had approximately $29 million in federal and state tax credit carryforwards that originated in the tax years from 2013 through 2016. The federal and state carryforwards begin expiring in 203 5 and 2020, respectively. These carryforwards are primarily from investments in federal and state NMTC projects. The Company had approximately $3 3 million in state net operating loss carryforwards that originated in the tax years 2004 through 2016 and that begin expiring in 2019. A valuation allowance has been established for the state net operating loss carryforwards. The impact of this valuation allowance is immaterial to the financial statements. The Company recognized benefits from federal and state NMTC, LIHTC, QZAB, and QSCB. ﻿ The tax benefit of a position taken or expected to be taken in a tax return should be recognized when it is more likely than not that the position will be sustained on its technical merits. The liability for unrecognized tax benefits was immaterial at December 31, 2016, 2015 and 2014. The Company does not expect the liability for unrecognized tax benefits to change significantly during 2017. Hancock recognizes interest and penalties, if any, related to income tax matters in income tax expense, and the amounts recognized during 2016, 2015 and 2014 were insignificant. ﻿ The Company and its subsidiaries file a consolidated U.S. federal income tax return, as well as filing various state returns. Generally, the returns for years prior to 2013 are no longer subject to examination by taxing authorities.

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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 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 2: 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=65882285&loc=d3e32559-109319 Reference 3: 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=65882285&loc=d3e32718-109319 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=65882285&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=65882285&loc=d3e32537-109319 + Details
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