XML 171 R50.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
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,
| 2019 |  | 2018 |  | 2017
Current |  |  |  |  |
Federal | $ | 23,786 |  |  | $ | 22,658 |  |  | $ | 28,380 |
State | 4,264 |  |  | 2,625 |  |  | 1,354 |
| 28,050 |  |  | 25,283 |  |  | 29,734 |
Deferred |  |  |  |  |
Federal | 17,331 |  |  | 13,369 |  |  | 22,314 |
State | 2,710 |  |  | 3,075 |  |  | 1,147 |
Revaluation of net deferred tax assets as a result of the Tax Cuts and Jobs Act | — |  |  | — |  |  | 14,486 |
| 20,041 |  |  | 16,444 |  |  | 37,947 |
| $ | 48,091 |  |  | $ | 41,727 |  |  | $ | 67,681 |
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,
| 2019 |  | 2018 |  | 2017
Tax at U.S. statutory rate | $ | 45,294 |  |  | $ | 39,616 |  |  | $ | 55,955 |
Increase (decrease) in taxes resulting from: |  |  |  |  |
Tax-exempt interest income | (1,205 | ) |  | (1,433 | ) |  | (3,595 | )
BOLI income | (1,283 | ) |  | (975 | ) |  | (1,524 | )
Investment tax credits | (1,863 | ) |  | (1,863 | ) |  | (1,591 | )
Amortization of investment in low-income housing tax credits | 1,575 |  |  | 1,592 |  |  | 1,873 |
State income tax expense, net of federal benefit | 5,509 |  |  | 4,502 |  |  | 1,626 |
Revaluation of net deferred tax assets as a result of the Tax Cuts and Jobs Act | — |  |  | — |  |  | 14,486 |
Other items, net | 64 |  |  | 288 |  |  | 451 |
| $ | 48,091 |  |  | $ | 41,727 |  |  | $ | 67,681 |
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,
| 2019 |  | 2018
Deferred tax assets |  |  |
Allowance for loan losses | $ | 14,304 |  |  | $ | 14,097 |
Loans | 10,284 |  |  | 18,655 |
Deferred compensation | 12,050 |  |  | 10,001 |
Net unrealized losses on securities | — |  |  | 6,180 |
Impairment of assets | 1,108 |  |  | 1,280 |
Net operating loss carryforwards | 9,387 |  |  | 19,065 |
Lease liabilities under operating leases | 22,686 |  |  | — |
Other | 934 |  |  | 9,800 |
Total deferred tax assets | 70,753 |  |  | 79,078 |
Deferred tax liabilities |  |  |
Net unrealized gains on securities | 190 |  |  | — |
Investment in partnerships | 967 |  |  | 1,572 |
Fixed assets | 2,952 |  |  | 3,865 |
Mortgage servicing rights | 13,472 |  |  | 12,350 |
Junior subordinated debt | 2,304 |  |  | 1,607 |
Intangibles | — |  |  | 6,190 |
Lease right-of-use asset | 21,727 |  |  | — |
Other | 1,859 |  |  | 1,792 |
Total deferred tax liabilities | 43,471 |  |  | 27,376 |
Net deferred tax assets | $ | 27,282 |  |  | $ | 51,702 |
Summary of operating loss carryforwards | The table below presents the breakout of net operating losses as of the dates presented.
| December 31,
| 2019 |  | 2018
Net Operating Losses |  |  |
Federal | $ | 36,006 |  |  | $ | 76,919 |
State | 40,806 |  |  | 65,583 |
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%.
| 2019 |  | 2018 |  | 2017
Balance at January 1 | $ | 1,919 |  |  | $ | 1,606 |  |  | $ | 1,510 |
Additions based on positions related to current period | 158 |  |  | 313 |  |  | 467 |
Reductions based on positions related to prior period | (1,410 | ) |  | — |  |  | — |
Reductions due to lapse of statute of limitations | — |  |  | — |  |  | (371 | )
Balance at December 31 | $ | 667 |  |  | $ | 1,919 |  |  | $ | 1,606 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -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
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -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
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=117331294&loc=d3e36027-109320 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32559-109319 + Details
Name: | us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration