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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

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

		Year Ended December 31,
		2024				2023				2022
		(Dollars in thousands)
Current provision:
Federal		$	41,558			$	63,257			$	60,763
State			24,798				35,077				35,427
			66,356				98,334				96,190
Deferred provision:
Federal			3,461				(2,913	)			(2,496	)
State			705				(1,422	)			(772	)
			4,166				(4,335	)			(3,268	)
Total		$	70,522			$	93,999			$	92,922

Schedule of Income Tax Asset

Income tax asset consists of the following.

		December 31,
		2024				2023
		(Dollars in thousands)
Current:
Federal		$	3,469			$	(10,094	)
State			698				(1,722	)
			4,167				(11,816	)
Deferred:
Federal			106,102				112,481
State			60,909				63,303
			167,011				175,784
Total		$	171,178			$	163,968

Schedule of Deferred Tax Assets and Liabilities

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

		December 31,
		2024				2023
		(Dollars in thousands)
Deferred tax assets:
Bad debt and credit loss deduction		$	27,501			$	30,038
Net operating loss carryforward			2,516				3,711
Deferred compensation			7,047				6,849
PCI loans			51				54
Accrued expense			7,085				7,257
Unrealized loss on investment securities, net			140,443				145,404
Acquired loan discounts			2,033				3,061
Lease liability			15,766				7,505
Other, net			1,660				1,816
Gross deferred tax asset			204,102				205,695
Deferred tax liabilities:
California franchise tax			7,552				5,921
Depreciation			424				2,950
Intangibles - acquisitions			8,154				7,714
FHLB Stock			2,545				2,545
Deferred income			3,414				3,886
Right of use asset			15,002				6,895
Gross deferred tax liability			37,091				29,911
Net deferred tax asset		$	167,011			$	175,784

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.

		Year Ended December 31,
		2024								2023								2022
		Amount				Percent				Amount				Percent				Amount				Percent
		(Dollars in thousands)
Federal income tax at statutory rate		$	56,960				21.0	%		$	66,241				21.0	%		$	68,953				21.0	%
State franchise taxes, net of federal benefit			19,698				7.3	%			25,139				8.0	%			27,256				8.3	%
State impact of BOLI surrender, net of federal benefit			—				0.0	%			1,489				0.5	%			—				0.0	%
Federal impact of BOLI surrender and MEC penalty			—				0.0	%			5,486				1.7	%			—				0.0	%
Tax-exempt income			(4,919	)			(1.8	)%			(5,146	)			(1.6	)%			(3,290	)			(1.0	)%
Tax credits			(2,184	)			(0.8	)%			(1,239	)			(0.4	)%			(1,617	)			(0.5	)%
Other, net			967				0.3	%			2,029				0.6	%			1,620				0.5	%
Provision for income taxes		$	70,522				26.0	%		$	93,999				29.8	%		$	92,922				28.3	%

Schedule of Balances of the Company's tax credit Investments and Related Unfunded Commitment

The following table presents the balances of the Company's tax credit investments and related unfunded commitments at December 31, 2024 and 2023.

		December 31,
		2024				2023
		(Dollars in thousands)
Tax credit investments		$	57,264			$	17,616
Unfunded commitments - tax credit investments		$	45,809			$	3,883

Schedule of Other Information related to the Company's Tax Credit Investments

The following table presents other information related to the Company's tax credit investments for the years ended December 31, 2024, 2023, and 2022.

		Year Ended December 31,
		2024				2023				2022
		(Dollars in thousands)
Tax credits and other tax benefits recognized		$	21,257			$	16,239			$	2,157
Tax credit amortization expense included in provision for income taxes		$	17,421			$	14,102			$	2,018

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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.

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