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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Current and Deferred Amounts of Income Tax Expense (Benefit)

The current and deferred amounts of income tax expense (benefit) consist of the following.

		For the Year Ended December 31,
		2017				2016				2015
		(Dollars in thousands)
Current provision:
Federal		$	44,153			$	41,195			$	40,021
State			17,151				17,944				17,040
			61,304				59,139				57,061
Deferred provision/(benefit):
Federal			20,926				1,208				(3,443)
State			2,154				510				(1,397)
			23,080				1,718				(4,840)
Total		$	84,384			$	60,857			$	52,221

Schedule of Income Tax Asset

Income tax asset consists of the following.

		As of December 31,
		2017				2016
		(Dollars in thousands)
Current:
Federal		$	11,713			$	4,399
State			2,946				538
			14,659				4,937
Deferred:
Federal			16,557				31,566
State			8,830				8,926
			25,387				40,492
Total		$	40,046			$	45,429

Components of Net Deferred Tax Asset

The components of the net deferred tax asset are as follows.

		As of December 31,
		2017				2016
			(Dollars in thousands)
Deferred tax assets:
Bad debt and credit loss deduction		$	19,911			$	31,284
Net operating loss carryforward			207				453
Deferred compensation			5,501				5,296
PCI loans			3,098				12,147
California franchise tax			1,618				3,269
Accrued expense			1,365				5,299
Other, net			3,353				2,110
Gross deferred tax asset			35,053				59,858
Deferred tax liabilities:
Depreciation			975				2,168
Intangibles - acquisitions			3,404				3,543
FHLB Stock			2,400				3,421
Deferred income			2,112				4,099
Unrealized gain on investment securities, net			775				6,135
Gross deferred tax liability			9,666				19,366
Net deferred tax asset		$	25,387			$	40,492

Reconciliation of Statutory Income Tax Rate to Consolidated Effective Income Tax Rate

The annual consolidated effective tax rate for the periods presented, is reconciled to the U.S. statutory income rate as follows.

		For the Year Ended December 31,
		2017								2016								2015
		Amount				Percent				Amount				Percent				Amount				Percent
		(Dollars in thousands)
Federal income tax at statutory rate		$	66,078				35.0%			$	56,800				35.0%			$	52,978				35.0%
State franchise taxes, net of federal benefit			12,903				6.9%				11,299				7.0%				10,457				6.9%
Tax-exempt income			(4,450)				(2.4%)				(5,848)				(3.6%)				(7,619)				(5.0%)
Tax credits			(1,096)				(0.6%)				(846)				(0.5%)				(1,014)				(0.7%)
Deferred tax asset revalution adjustment			13,208				7.0%				-				0.0%				-				0.0%
Other, net			(2,259)				(1.2%)				(548)				(0.4%)				(2,581)				(1.7%)
Provision for income taxes		$	84,384				44.7%			$	60,857				37.5%			$	52,221				34.5%

Change in Unrecognized Tax Benefits

The change in unrecognized tax benefits in 2017 and 2016 follows.

		For the Year Ended December 31,
		2017				2016
		(Dollars in thousands)
Balance, beginning of period		$	1,675			$	1,675
Additions for tax positions related to prior years			-				-
Reductions due to lapse of statue of limitations			(716)				-
Settlement with tax authorities			(959)				-
Balance, end of period		$	-			$	1,675

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Schedule of income tax assets liability.

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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

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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.

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-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

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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

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Tabular disclosure of unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination.

+ References

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-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

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