XML 38 R23.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Taxes | (14) Income Taxes We file 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020 |
​ | ​ | (Dollars in Thousands) |
Current |  | ​ |  |  | ​ |  |  | ​ |  | ​
U.S. | ​ | $ | 66,670 | ​ | $ | 59,591 | ​ | $ | 43,794 | ​
State | ​ |  | 5,118 | ​ |  | 5,272 | ​ |  | 3,709 | ​
Foreign | ​ |  | — | ​ |  | — | ​ |  | 58 | ​
Total current taxes | ​ |  | 71,788 | ​ |  | 64,863 | ​ |  | 47,561 | ​
Deferred | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. | ​ |  | 10,555 | ​ |  | 3,794 | ​ |  | (2,733) | ​
State | ​ |  | 64 | ​ |  | (252) | ​ |  | (389) | ​
Total deferred taxes | ​ |  | 10,619 | ​ |  | 3,542 | ​ |  | (3,122) | ​
Total income taxes | ​ | $ | 82,407 | ​ | $ | 68,405 | ​ | $ | 44,439 | ​
​ Total income tax expense differs from the amount computed by applying the U.S. Federal income tax rate of 21% for 2022, 2021 and 2020 to income before income taxes. The reasons for the differences for the years ended December 31 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020 |
​ | ​ | (Dollars in Thousands) |
Computed expected tax expense |  | $ | 80,893 |  | $ | 68,011 |  | $ | 45,218 | ​
Change in taxes resulting from: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tax-exempt interest income | ​ |  | (2,433) | ​ |  | (2,970) | ​ |  | (2,709) | ​
State tax, net of federal income taxes, tax credit and refunds | ​ |  | 4,094 | ​ |  | 3,966 | ​ |  | 2,622 | ​
Other investment income | ​ |  | (1,391) | ​ |  | (1,753) | ​ |  | (2,205) | ​
Net investment in low-income housing investments | ​ | ​ | 1,906 | ​ | ​ | 203 | ​ | ​ | 1,990 | ​
Other | ​ |  | (662) | ​ |  | 948 | ​ |  | (477) | ​
Actual tax expense | ​ | $ | 82,407 | ​ | $ | 68,405 | ​ | $ | 44,439 | ​
​ The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2022 and 2021 are reflected below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 |
​ | ​ | (Dollars in Thousands) |
Deferred tax assets: |  | ​ |  |  | ​ |  | ​
Loans receivable, principally due to the allowance for probable loan losses | ​ | $ | 25,982 | ​ | $ | 22,773 | ​
Other real estate owned | ​ |  | 1,194 | ​ |  | 1,227 | ​
Accrued expenses | ​ |  | 186 | ​ |  | 81 | ​
Net unrealized losses on available for sale investment securities | ​ | ​ | 130,586 | ​ | ​ | 9,062 | ​
Other | ​ |  | 5,000 | ​ |  | 4,842 | ​
Total deferred tax assets | ​ |  | 162,948 | ​ |  | 37,985 | ​
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bank premises and equipment, principally due to differences on depreciation | ​ |  | (13,615) | ​ |  | (12,163) | ​
Impairment charges on available-for-sale securities | ​ | ​ | (19) | ​ | ​ | (19) | ​
Identified intangible assets and goodwill | ​ |  | (14,125) | ​ |  | (13,966) | ​
Other | ​ |  | (36,566) | ​ |  | (24,235) | ​
Total deferred tax liabilities | ​ |  | (64,325) | ​ |  | (50,383) | ​
Net deferred tax liability | ​ | $ | 98,623 | ​ | $ | (12,398) | ​
​ The net deferred tax asset of $98,623,000 at December 31, 2022 is included in other assets in the consolidated statements of condition. The net deferred tax liability of $12,398,000 at December 31, 2021 is included in other liabilities in the consolidated statements of condition.

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI https://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration