XML 48 R28.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2018
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES Income tax expense consists of the following:
Year ended December 31, | 2018 |  | 2017 |  | 2016
Current: |  |  |  |  |
Federal | $ | 23.1 |  |  | $ | 24.3 |  |  | $ | 40.3 |
State | 7.2 |  |  | 5.0 |  |  | 5.9 |
Total current | 30.3 |  |  | 29.3 |  |  | 46.2 |
Deferred: |  |  |  |  |
Federal | 12.3 |  |  | 18.4 |  |  | 2.9 |
State | 3.5 |  |  | 2.5 |  |  | 0.5 |
Total deferred | 15.8 |  |  | 20.9 |  |  | 3.4 |
Total income tax expense | $ | 46.1 |  |  | $ | 50.2 |  |  | $ | 49.6 |
Total income tax provision differs from the amount of income tax determined by applying the statutory federal income tax rate of 21% for 2018 and 35% for 2017 and 2016, respectively, to income before income taxes due to the following:
Year ended December 31, | 2018 |  | 2017 |  | 2016
Tax expense at the statutory tax rate | $ | 43.3 |  |  | $ | 54.9 |  |  | $ | 50.8 |
Increase (decrease) in tax resulting from: |  |  |  |  |
Tax-exempt income | (2.8 | ) |  | (4.5 | ) |  | (4.4 | )
State income tax, net of federal income tax benefit | 8.5 |  |  | 4.9 |  |  | 4.3 |
Benefit of stock-based compensation plans | (1.1 | ) |  | (2.6 | ) |  | — |
Federal tax credits | (2.6 | ) |  | (2.5 | ) |  | (2.1 | )
Benefit due to enactment of federal tax reform | — |  |  | (2.2 | ) |  | — |
Other, net | 0.8 |  |  | 2.2 |  |  | 1.0 |
Tax expense at effective tax rate | $ | 46.1 |  |  | $ | 50.2 |  |  | $ | 49.6 |
The tax effects of temporary differences between the financial statement carrying amounts and tax bases of assets and liabilities that give rise to significant portions of the net deferred tax asset (liability) relate to the following:
December 31, | 2018 |  | 2017
Deferred tax assets: |  |  |
Loans, principally due to allowance for loan losses | $ | 18.4 |  |  | $ | 18.0 |
Loan discount | 8.3 |  |  | 6.7 |
Investment securities, unrealized losses | 8.9 |  |  | 5.6 |
Deferred compensation | 17.0 |  |  | 13.1 |
Non-performing loan interest | 1.2 |  |  | 1.1 |
Other real estate owned write-downs and carrying costs | 0.3 |  |  | 0.6 |
Tax credit carryforwards (1) | 0.1 |  |  | 3.7 |
Net operating loss carryforwards (2) | 3.9 |  |  | 8.7 |
Other | 0.1 |  |  | 3.1 |
Deferred tax assets | 58.2 |  |  | 60.6 |
Deferred tax liabilities: |  |  |
Fixed assets, principally differences in bases and depreciation | (6.9 | ) |  | (6.7 | )
Deferred loan costs | (2.6 | ) |  | (1.7 | )
Investment in joint venture partnership, principally due to differences in depreciation of partnership assets | (0.8 | ) |  | (0.8 | )
Prepaid amounts | (0.6 | ) |  | (0.6 | )
Government agency stock dividends | (1.5 | ) |  | (1.6 | )
Goodwill and core deposit intangibles | (44.2 | ) |  | (38.1 | )
Mortgage servicing rights | (6.4 | ) |  | (5.7 | )
Other | (3.8 | ) |  | (1.4 | )
Deferred tax liabilities | (66.8 | ) |  | (56.6 | )
Net deferred tax assets (liabilities) | $ | (8.6 | ) |  | $ | 4.0 |
(1) Based on filed tax returns and amounts expected to be reported in current year tax returns (December 31, 2018), we had remaining federal tax credit carryforwards of $0.1 million from acquired companies. The remaining federal tax credits were primarily generated from AMT tax credit carryforwards, and their use is subject to annual limitations. (2) As of December 31, 2018, we had remaining federal net operating loss carryforwards of $5.4 million from acquired companies, which is available to offset federal taxable income and state net operating loss carryforwards in amounts which vary by state. The federal net operating losses will expire beginning in 2029 and ending in 2037 and the state net operating losses will expire beginning in 2019 and ending in 2034. The use of these carryforwards is subject to annual limitations. The Company had current net income tax receivables of $2.0 million and $5.7 million at December 31, 2018 and 2017, respectively.

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 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration