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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The components of the provision for income taxes are as follows:
| 2017 |  | 2016 |  | 2015
| (in thousands)
Current tax expense: |  |  |  |  |
Federal | $ | 19,553 |  |  | $ | 33,872 |  |  | $ | 34,455 |
State | 2,617 |  |  | 1,698 |  |  | 2,042 |
| 22,170 |  |  | 35,570 |  |  | 36,497 |
Deferred tax expense: |  |  |  |  |  |  |  |
Federal | 39,885 |  |  | 7,968 |  |  | 12,752 |
State | 646 |  |  | 3,086 |  |  | 672 |
| 40,531 |  |  | 11,054 |  |  | 13,424 |
Income tax expense | $ | 62,701 |  |  | $ | 46,624 |  |  | $ | 49,921 |
Schedule of Effective Income Tax Rate Reconciliation | The differences between the effective income tax rate and the federal statutory income tax rate are as follows:
| 2017 |  | 2016 |  | 2015
Statutory tax rate | 35.0 | % |  | 35.0 | % |  | 35.0 | %
Tax credit investments | (7.8 | ) |  | (7.0 | ) |  | (5.2 | )
Tax-exempt income | (6.6 | ) |  | (6.5 | ) |  | (6.0 | )
State income taxes, net of federal benefit | (0.5 | ) |  | 1.2 |  |  | 1.9 |
Bank owned life insurance | (0.4 | ) |  | (0.6 | ) |  | (0.6 | )
Re-measurement of net deferred tax asset due to the Tax Act | 6.7 |  |  | — |  |  | — |
Change in valuation allowance | 1.2 |  |  | 0.3 |  |  | (0.9 | )
Executive compensation | 0.1 |  |  | 0.1 |  |  | 0.1 |
Other, net | (1.0 | ) |  | (0.1 | ) |  | 0.7 |
Effective income tax rate | 26.7 | % |  | 22.4 | % |  | 25.0 | %
Schedule of Deferred Tax Assets and Liabilities | The net deferred tax asset recorded by the Corporation is included in other assets and consists of the following tax effects of temporary differences as of December 31:
| 2017 |  | 2016
| (in thousands)
Deferred tax assets: |  |  |
Allowance for credit losses | $ | 40,554 |  |  | $ | 62,726 |
State loss carryforwards | 11,855 |  |  | 9,820 |
Deferred compensation | 7,663 |  |  | 12,017 |
Postretirement and defined benefit plans | 7,274 |  |  | 12,659 |
Other accrued expenses | 6,977 |  |  | 9,520 |
Unrealized holding losses on securities available for sale | 5,830 |  |  | 12,260 |
Other-than-temporary impairment of investments | 2,045 |  |  | 5,187 |
Other | 6,742 |  |  | 8,500 |
Total gross deferred tax assets | 88,940 |  |  | 132,689 |
Deferred tax liabilities: |  |  |
Direct leasing | 21,917 |  |  | 27,663 |
Mortgage servicing rights | 8,204 |  |  | 13,369 |
Acquisition premiums/discounts | 6,030 |  |  | 9,167 |
Premises and equipment | 3,099 |  |  | 5,625 |
Intangible assets | 1,155 |  |  | 1,810 |
Other | 10,420 |  |  | 12,530 |
Total gross deferred tax liabilities | 50,825 |  |  | 70,164 |
Net deferred tax asset, before valuation allowance | 38,115 |  |  | 62,525 |
Valuation allowance | (11,855 | ) |  | (8,950 | )
Net deferred tax asset | $ | 26,260 |  |  | $ | 53,575 |
Summary of Income Tax Contingencies | The following summarizes the changes in unrecognized tax benefits for the years ended December 31:
| 2017 |  | 2016 |  | 2015
| (in thousands)
Balance at beginning of year | $ | 2,438 |  |  | $ | 2,373 |  |  | $ | 1,944 |
Current period tax positions | 523 |  |  | 456 |  |  | 492 |
Lapse of statute of limitations | (411 | ) |  | (391 | ) |  | (63 | )
Balance at end of year | $ | 2,550 |  |  | $ | 2,438 |  |  | $ | 2,373 |

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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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- 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://www.xbrl.org/2003/role/presentationRef -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
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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