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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Components of the provision for income taxes | Significant components of the provision for income taxes are as follows for the periods presented:
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Current |  |  |  |  |
Federal | $ | 28,380 |  |  | $ | 31,679 |  |  | $ | 17,004 |
State | 1,354 |  |  | 2,131 |  |  | 995 |
| 29,734 |  |  | 33,810 |  |  | 17,999 |
Deferred |  |  |  |  |
Federal | 22,314 |  |  | 10,480 |  |  | 12,625 |
State | 1,147 |  |  | 557 |  |  | 1,126 |
Revaluation of net deferred tax assets as a result of the Tax Cuts and Jobs Act | 14,486 |  |  | — |  |  | — |
| 37,947 |  |  | 11,037 |  |  | 13,751 |
| $ | 67,681 |  |  | $ | 44,847 |  |  | $ | 31,750 |
Components of the Company’s investments in qualified affordable housing projects were included in the line item “Income taxes” in the Consolidated Statements of Income for the periods presented as follows:
| Year Ended
| December 31,
| 2017 |  | 2016
Investment amortization | $ | 1,714 |  |  | $ | 1,335 |
Tax credits and other benefits | (2,190 | ) |  | (1,927 | )
Total | $ | (476 | ) |  | $ | (592 | )
Reconciliation of income taxes computed at the United States federal statutory tax rates | The reconciliation of income taxes computed at the United States federal statutory tax rates to the provision for income taxes is as follows, for the periods presented:
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Tax at U.S. statutory rate | $ | 55,955 |  |  | $ | 47,522 |  |  | $ | 34,918 |
Increase (decrease) in taxes resulting from: |  |  |  |  |
Tax-exempt interest income | (3,595 | ) |  | (3,467 | ) |  | (3,377 | )
BOLI income | (1,524 | ) |  | (1,622 | ) |  | (1,264 | )
Investment tax credits | (1,591 | ) |  | (1,390 | ) |  | (1,390 | )
Amortization of investment in low-income housing tax credits | 1,873 |  |  | 1,742 |  |  | 1,734 |
State income tax expense, net of federal benefit | 1,626 |  |  | 1,747 |  |  | 1,378 |
Revaluation of net deferred tax assets as a result of the Tax Cuts and Jobs Act | 14,486 |  |  | — |  |  | — |
Other items, net | 451 |  |  | 315 |  |  | (249 | )
| $ | 67,681 |  |  | $ | 44,847 |  |  | $ | 31,750 |
Significant components of the Company's deferred tax assets and liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows for the periods presented:
| December 31,
| 2017 |  | 2016
Deferred tax assets |  |  |
Allowance for loan losses | $ | 13,966 |  |  | $ | 19,934 |
Loans | 15,062 |  |  | 23,240 |
Deferred compensation | 7,093 |  |  | 11,254 |
Net unrealized losses on securities | 3,659 |  |  | 10,096 |
Impairment of assets | 1,748 |  |  | 2,512 |
Net operating loss carryforwards | 2,419 |  |  | 2,867 |
Other | 4,722 |  |  | 7,149 |
Gross deferred tax assets | 48,669 |  |  | 77,052 |
Valuation allowance on state net operating loss carryforwards | — |  |  | — |
Total deferred tax assets | 48,669 |  |  | 77,052 |
Deferred tax liabilities |  |  |
Investment in partnerships | 757 |  |  | 1,556 |
Depreciation | 3,163 |  |  | 2,517 |
Mortgage servicing rights | 10,139 |  |  | 3,360 |
Subordinated debt | 2,394 |  |  | 4,111 |
Other | 1,859 |  |  | 2,876 |
Total deferred tax liabilities | 18,312 |  |  | 14,420 |
Net deferred tax assets | $ | 30,357 |  |  | $ | 62,632 |
Reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding | A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest, related to federal and state income tax matters as of December 31 follows below. These amounts have been adjusted for the change in the tax rate from 35% to 21%.
| 2017 |  | 2016 |  | 2015
Balance at January 1 | $ | 1,510 |  |  | $ | 1,485 |  |  | $ | 2,653 |
Additions based on positions related to current period | 467 |  |  | 25 |  |  | 367 |
Additions based on positions related to prior period | — |  |  | — |  |  | — |
Reductions based on positions related to prior period | — |  |  | — |  |  | (201 | )
Settlements | — |  |  | — |  |  | (1,334 | )
Reductions due to lapse of statute of limitations | (371 | ) |  | — |  |  | — |
Balance at December 31 | $ | 1,606 |  |  | $ | 1,510 |  |  | $ | 1,485 |

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- Definition 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 Reference 1: 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=84230637&loc=d3e32639-109319 + Details
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- Definition 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 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=84230637&loc=d3e32537-109319 + Details
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