XML 53 R20.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2011
Income Taxes [Abstract] |
Income Taxes | (12) INCOME TAXES The components of the Company's income tax expense (benefit) are as follows:
|  | Year Ended December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
|  | (Dollars in thousands) |
Current taxes: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 26,489 |  |  | $ | 20,240 |  |  | $ | 13,886 |
State |  |  | 3,869 |  |  |  | 3,155 |  |  |  | 1,717 |
Deferred taxes. |  |  | (5,282 | ) |  |  | (58 | ) |  |  | 467 |
Total income taxes |  | $ | 25,076 |  |  | $ | 23,337 |  |  | $ | 16,070 |
Income tax expense applicable to securities transactions approximated $560,000, $106,000 and $134,000 for the years ended December 31, 2011, 2010 and 2009, respectively. A reconciliation of tax expense at the Federal statutory tax rate applied to income before taxes is presented in the following table:
|  | Year Ended December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
|  | (Dollars in thousands) |
Tax expense at the Federal statutory tax rate |  | $ | 24,744 |  |  | $ | 22,976 |  |  | $ | 17,038 |
Increase (decrease) in tax expense from: |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt income, net |  |  | (904 | ) |  |  | (648 | ) |  |  | (701 | )
Modified endowment life contracts |  |  | (809 | ) |  |  | (705 | ) |  |  | (715 | )
State tax expense, net of Federal tax benefit |  |  | 3,916 |  |  |  | 3,098 |  |  |  | 1,737 |
Federal tax credits |  |  | (1,227 | ) |  |  | (1,914 | ) |  |  | (1,709 | )
Other, net |  |  | (644 | ) |  |  | 530 |  |  |  | 420 |
Total tax expense |  | $ | 25,076 |  |  | $ | 23,337 |  |  | $ | 16,070 |
The net deferred tax asset/(liability) consisted of the following:
|  | December 31, |
|  | 2011 |  |  | 2010 |
|  | (Dollars in thousands) |
Provision for loan losses |  | $ | 14,252 |  |  | $ | 13,014 |
Write-downs of other real estate owned |  |  | 973 |  |  |  | 247 |
Deferred compensation |  |  | 1,787 |  |  |  | 1,499 |
Stock based compensation |  |  | 2,260 |  |  |  | 1,795 |
Other |  |  | 910 |  |  |  | 625 |
Gross deferred tax assets |  |  | 20,182 |  |  |  | 17,180 |
Unrealized net gains on securities |  |  | (5,085 | ) |  |  | (4,551 | )
Premium on securities of banks acquired |  |  | (1,080 | ) |  |  | (1,308 | )
Intangibles |  |  | (2,175 | ) |  |  | (1,936 | )
Basis difference related to tax credits |  |  | (664 | ) |  |  | (3,875 | )
Depreciation |  |  | (3,923 | ) |  |  | (3,326 | )
Leveraged lease |  |  | (2,982 | ) |  |  | (3,350 | )
Other |  |  | (1,336 | ) |  |  | (693 | )
Gross deferred tax liabilities |  |  | (17,245 | ) |  |  | (19,039 | )
Net deferred tax asset/( liability) |  | $ | 2,937 |  |  | $ | (1,859 | )
The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if applicable, in income tax expense. During the years ended December 31, 2011, 2010 and 2009, the Company did not recognize or accrue any interest and penalties related to unrecognized tax benefits. Federal and various state income tax statutes dictate that tax returns filed in any of the previous three reporting periods remain open to examination which includes the years 2009 to 2011. The Company has no open examinations with either the Internal Revenue Service or any state agency. Management performs an analysis of the Company's tax position annually and believes it is more likely than not that all of its tax positions will be utilized in future years.

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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/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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 5: 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 Reference 6: 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 7: 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 8: 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=6881521&loc=d3e23780-122690 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration