XML 73 R52.htm IDEA: XBRL DOCUMENT v3.25.0.1

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Income tax expense consisted of the following components:

(Dollars in thousands)						2024						2023						2022
Current expense
Federal						$	15,133					$	46,800					$	24,307
State						3,159						2,568						3,308
Total current expense						18,292						49,368						27,615
Deferred expense (benefit)
Federal						21,014						11,769						(4,399)
State						188						1,596						894
Total deferred expense (benefit)						21,202						13,365						(3,505)
Income tax expense						$	39,494					$	62,733					$	24,110

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The difference between the federal income tax rates applied to income before income taxes and the effective rates were due to the following:

(Dollars in thousands)						2024						2023						2022
Income taxes computed at federal statutory rate (21%) on income before income taxes						$	56,348					$	66,905					$	50,762
Benefit from tax-exempt income						(4,892)						(6,165)						(5,743)
Tax credits						(29,188)						(15,271)						(37,331)
Basis reduction on tax credit						1,630						87						2,761
Tax expense (benefit) of equity compensation						(289)						(418)						(154)
State income taxes, net of federal tax benefit						1,676						3,290						3,320
Affordable housing investments						12,453						12,097						9,341
Other						1,756						2,208						1,154
Income tax expense						$	39,494					$	62,733					$	24,110

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The major components of the temporary differences that gave rise to deferred tax assets and liabilities at December 31, 2024, and 2023, were as follows:

(Dollars in thousands)						2024						2023
Deferred tax assets
Allowance for credit losses						$	35,984					$	32,453
Deferred compensation						430						326
Postretirement benefits other than pension liability						502						537
Accrued stock-based compensation						2,701						2,317
Interest on nonaccrual loans						398						336
Accrued expenses						7,978						7,822
Net unrealized losses on investment securities						72,464						79,652
Net unrealized losses on derivatives						354						0
State net operating loss						1,462						960
Leasing liability						14,185						15,290
Reserve for unfunded commitments						3,902						4,261
Section 174 capitalized expense						1,373						656
Other						283						13,400
Total deferred tax assets						142,016						158,010
Deferred tax liabilities
Tax depreciation in excess of book depreciation						(5,652)						(7,568)
FHLB and FRB stock						(3,910)						(3,911)
Mortgage-servicing rights						(4,262)						(3,956)
Leasing activities						(42,654)						(36,940)
Retirement obligation						(10,608)						(9,811)
Intangible assets						(23,138)						(20,789)
Deferred loan fees and costs						(3,406)						(2,408)
Prepaid expenses						(408)						(353)
Limited partnership investments						(9,394)						(3,062)
Fair value adjustments on business combinations						(5,716)						(5,788)
Net unrealized gains on derivatives						0						(1,130)
ASU 2016-01 unrealized gain/loss-equity securities						(207)						(2,401)
Right of use assets						(11,839)						(12,868)
Other						(4,811)						(3,918)
Total deferred tax liabilities						(126,005)						(114,903)
Total net deferred tax asset (liability)						$	16,011					$	43,107

Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]

A progression of gross unrecognized tax benefits as of December 31, 2024, 2023 and 2022 is as follows:

(Dollars in thousands)						2024						2023						2022
Balance at beginning of year						$	0					$	2,386					$	2,386
Reductions for tax positions of prior years						0						(1,909)						0
Settlements						0						(477)						0
Balance at end of year						$	0					$	0					$	2,386

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

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/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration