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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income taxes are as follows:

			2024						2023						2022
			(dollars in thousands)
Current tax expense:
Federal			$	66,817					$	49,707					$	44,478
State			12,256						11,137						6,906
Total current tax expense			79,073						60,844						51,384
Deferred tax (benefit) expense:
Federal			(20,248)						3,021						8,974
State			(2,939)						576						(324)
Total deferred tax (benefit) expense			(23,187)						3,597						8,650
Total income tax expense			$	55,886					$	64,441					$	60,034

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:

			2024						2023						2022
Statutory tax rate			21.0		%				21.0		%				21.0		%
Tax credit investments			(0.3)						(1.3)						(2.0)
Tax-exempt income			(4.3)						(4.2)						(3.5)
Bargain purchase gain			(2.3)						—						—
Bank owned life insurance			(0.9)						(0.8)						(0.7)
State income taxes, net of federal benefit			1.9						2.6						1.2
Executive compensation			0.1						0.3						0.3
FDIC Premium			0.8						0.5						0.3
Other, net			0.2						0.4						0.7
Effective income tax rate			16.2		%				18.5		%				17.3		%

Schedule of Deferred Tax Assets and Liabilities

The net DTA recorded by the Corporation is included in other assets and consists of the following tax effects of temporary differences as of December 31:

			2024						2023
			(dollars in thousands)
Deferred tax assets:
Unrealized holding losses on securities			$	85,516					$	90,671
Allowance for credit losses			90,148						71,013
Lease liability			34,921						21,570
State loss carryforwards			26,118						27,948
Other accrued expenses			16,142						11,082
Deferred compensation			11,138						10,215
Intangible assets			5,889						7,460
Stock-based compensation			5,458						5,129
Tax credit carryforwards			—						4,995
Other			7,444						5,469
Total gross deferred tax assets			$	282,774					$	255,552
Deferred tax liabilities:
Equipment lease financing			45,644						47,345
Right-of-use-asset			31,960						20,022
Acquisition premiums/discounts			16,360						5,508
MSRs			6,952						7,158
Postretirement and defined benefit plans			5,560						3,438
Tax credit investments			2,033						1,747
Premises and equipment			736						1,678
Total gross deferred tax liabilities			$	109,245					$	86,896
Net deferred tax asset, before valuation allowance			173,529						168,656
Valuation allowance			(26,118)						(27,948)
Net deferred tax asset			$	147,411					$	140,708

Summary of Changes in Unrecognized Tax Benefits

The following table summarizes the changes in unrecognized tax benefits for the years ended December 31:

			2024						2023						2022
			(dollars in thousands)
Balance at beginning of year			$	1,044					$	1,228					$	1,673
Current period tax positions			120						147						112
Lapse of statute of limitations			(104)						(331)						(557)
Balance at end of year			$	1,060					$	1,044					$	1,228

Summary of TCIs and Related Unfunded Commitments

The following table presents the balances of the Corporation's TCIs and related unfunded commitments as of December 31:

									2024						2023
Included in other assets:									(dollars in thousands)
Affordable housing tax credit investments, net									$	211,572					$	170,115
Other tax credit investments, net									29,649						35,907
			Total TCIs, net						$	241,221					$	206,022
Included in other liabilities:
Unfunded affordable housing tax credit commitments									$	84,572					$	58,312
Other tax credit liabilities									24,109						28,361
			Total unfunded tax credit commitments and liabilities						$	108,681					$	86,673

The following table presents other information relating to the Corporation's TCIs for the years ended December 31:

						2024						2023						2022
						(dollars in thousands)
Components of income taxes:
Tax credits and benefits						$	(26,762)					$	(28,748)					$	(27,154)
Amortization of tax credits and benefits, net of tax benefits						25,069						23,446						19,298
Deferred tax expense						559						610						766
			Total reduction in income tax expense			$	(1,134)					$	(4,692)					$	(7,090)
Amortization of TCIs:
			Total amortization of TCIs			$	—					$	—					$	2,783

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