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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes

Schedule of current and deferred portions of net income tax expense

		2018			2017			2016
		(Dollars in Thousands)
Current
U.S.		$	48,144		$	56,974		$	52,403
State			3,370			2,662			3,362
Foreign			(5)			—			—
Total current taxes			51,509			59,636			55,765
Deferred
U.S.			5,130			4,620			7,279
State			13			(50)			27
Total deferred taxes			5,143			4,570			7,306
Total income taxes		$	56,652		$	64,206		$	63,071

Schedule of income tax expense differences from the amount computed by applying the U.S. Federal income tax rate to income before income taxes

		2018			2017			2016
		(Dollars in Thousands)
Computed expected tax expense		$	57,831		$	77,643		$	69,253
Change in taxes resulting from:
Tax-exempt interest income			(3,101)			(4,701)			(3,940)
State tax, net of federal income taxes, tax credit and refunds			2,673			1,697			3,287
Resolution of IRS exam			—			(4,985)			—
Other investment income			(1,561)			(3,198)			(3,694)
Deferred tax adjustment due to federal tax rate change			(1,618)			(3,168)			—
Net investment expense, low income housing investments			2,518			387			—
Other			(90)			531			(1,835)
Actual tax expense		$	56,652		$	64,206		$	63,071

Schedule of tax effects of temporary difference that give rise to significant portions of the deferred tax assets and deferred tax liabilities

		2018			2017
		(Dollars in Thousands)
Deferred tax assets:
Loans receivable, principally due to the allowance for probable loan losses		$	12,257		$	14,546
Other real estate owned			2,459			2,053
Impairment charges on available-for-sale securities			1,054			844
Accrued expenses			81			81
Net unrealized losses on available for sale investment securities			15,182			9,680
Other			5,076			4,434
Total deferred tax assets			36,109			31,638
Deferred tax liabilities:
Bank premises and equipment, principally due to differences on depreciation			(12,596)			(10,940)
Identified intangible assets and goodwill			(13,490)			(13,417)
Other			(14,787)			(12,474)
Total deferred tax liabilities			(40,873)			(36,831)
Net deferred tax liability		$	(4,764)		$	(5,193)

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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

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-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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