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Income Taxes | 12 Months Ended
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Dec. 31, 2013
Income Taxes |
Income Taxes | (14) Income Taxes The Company files a consolidated U.S. Federal and State income tax return. The current and deferred portions of net income tax expense included in the consolidated statements of income are presented below for the years ended December 31:
|  | 2013 |  | 2012 |  | 2011 |
--- | --- | --- | --- | --- | --- | --- | ---
|  | (Dollars in Thousands) |
Current |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 59,583 |  | $ | 40,375 |  | $ | 61,279 |
State |  |  | (1,530 | ) |  | 2,234 |  |  | 5,083 |
Foreign |  |  | 3 |  |  | 33 |  |  | 15 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total current taxes |  |  | 58,056 |  |  | 42,642 |  |  | 66,377 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred |  |  |  |  |  |  |  |  |  |
U.S. |  |  | (1,692 | ) |  | 7,928 |  |  | (2,296 | )
State |  |  | (125 | ) |  | (5 | ) |  | (3 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total deferred taxes |  |  | (1,817 | ) |  | 7,923 |  |  | (2,299 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total income taxes |  | $ | 56,239 |  | $ | 50,565 |  | $ | 64,078 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total income tax expense differs from the amount computed by applying the U.S. Federal income tax rate of 35% for 2013, 2012 and 2011 to income before income taxes. The reasons for the differences for the years ended December 31 are as follows:
|  | 2013 |  | 2012 |  | 2011 |
--- | --- | --- | --- | --- | --- | --- | ---
|  | (Dollars in Thousands) |
Computed expected tax expense |  | $ | 64,183 |  | $ | 55,634 |  | $ | 66,941 |
Change in taxes resulting from: |  |  |  |  |  |  |  |  |  |
Tax-exempt interest income |  |  | (4,828 | ) |  | (4,381 | ) |  | (3,682 | )
State tax, net of federal income taxes and tax credit |  |  | (110 | ) |  | 1,446 |  |  | 3,302 |
Tax refunds |  |  | (966 | ) |  | — |  |  | — |
Other investment income |  |  | (2,656 | ) |  | (2,691 | ) |  | (3,083 | )
Other |  |  | 616 |  |  | 557 |  |  | 600 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Actual tax expense |  | $ | 56,239 |  | $ | 50,565 |  | $ | 64,078 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2013 and 2012 are reflected below:
|  | 2013 |  | 2012 |
--- | --- | --- | --- | --- | ---
|  | (Dollars in Thousands) |
Deferred tax assets: |  |  |  |  |  |  |
Loans receivable, principally due to the allowance for probable loan losses |  | $ | 25,365 |  | $ | 24,323 |
Other real estate owned |  |  | 3,878 |  |  | 3,919 |
Impairment charges on available-for-sale securities |  |  | 5,327 |  |  | 3,611 |
Accrued expenses |  |  | 399 |  |  | 137 |
Net unrealized gains on available for sale investment securities |  |  | 24,235 |  |  | — |
Other |  |  | 4,816 |  |  | 5,549 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total deferred tax assets |  |  | 64,020 |  |  | 37,539 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: |  |  |  |  |  |  |
Bank premises and equipment, principally due to differences on depreciation |  |  | (20,729 | ) |  | (21,529 | )
Net unrealized gains on available for sale investment securities |  |  | — |  |  | (36,156 | )
Identified intangible assets and goodwill |  |  | (18,051 | ) |  | (18,133 | )
Other |  |  | (11,476 | ) |  | (10,182 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total deferred tax liabilities |  |  | (50,256 | ) |  | (86,000 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax asset (liability) |  | $ | 13,764 |  | $ | (48,461 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
The net deferred tax asset (liability) of $13,764,000 at December 31, 2013 and $(48,461,000) at December 31, 2012 is included in other assets or liabilities, respectively in the consolidated statements of condition.

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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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