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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense for the years ended December 31, are as follows:

			Year ended December 31,
($ in thousands)			2020						2019						2018
Current:
Federal			$	25,132					$	15,470					$	9,621
State and local			5,009						2,027						2,432
Total current			30,141						17,497						12,053
Deferred:
Federal			(10,651)						4,262						2,812
State and local			(1,927)						1,538						495
Total deferred			(12,578)						5,800						3,307
Total income tax expense			$	17,563					$	23,297					$	15,360

Schedule of Income Tax Rate Reconciliation

A reconciliation of expected income tax expense, computed by applying the statutory federal income tax rate in 2020, 2019, and 2018 to income before income taxes and the amounts reflected in the consolidated statements of operations is as follows:

			Year ended December 31,
($ in thousands)			2020						2019						2018
Income tax expense at statutory rate			$	19,309					$	24,368					$	21,961
Increase (reduction) in income tax resulting from:
Tax-exempt interest income, net			(2,010)						(962)						(506)
State and local income taxes, net			3,254						2,816						2,423
Bank-owned life insurance, net			(778)						(628)						(452)
Non-deductible expenses			637						749						294
Tax benefit (expense) of LIHTC investments, net			(444)						(278)						(50)
Excess tax benefits			(175)						(526)						(1,631)
Federal tax credits			(1,327)						(913)						(4,627)
Subsidiary dividend timing election			—						—						(2,728)
Non-taxable donation to charitable foundation			—						(420)						—
Other, net			(903)						(909)						676
Total income tax expense			$	17,563					$	23,297					$	15,360

Schedule of Deferred Tax Assets and Deferred Tax Liabilities

The tax effect of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities is as follows:

			Year ended December 31,
($ in thousands)			2020						2019
Deferred tax assets:
Allowance for loan losses			$	34,031					$	10,692
Acquired loans			—						9,722
Loans held-for-sale			8,058						—
Other real estate			896						657
Deferred compensation			2,585						2,462
Accrued compensation			5,391						1,607
Net operating losses and tax credits			6,460						7,066
Other deferred tax assets			3,086						791
Total deferred tax assets			60,507						32,997
Deferred tax liabilities:
Acquired loans			3,413						—
Unrealized gains on securities			12,189						5,847
Intangible assets			7,800						7,432
Other deferred tax liabilities			4,369						2,407
Total deferred tax liabilities			27,771						15,686
Net deferred tax asset before valuation allowance			32,736						17,311
Less: valuation allowance			2,932						2,932
Net deferred tax asset			$	29,804					$	14,379

Schedule of Unrecognized Tax Benefits

The activity in the gross liability for unrecognized tax benefits was as follows:

($ in thousands)			2020						2019						2018
Balance at beginning of year			$	1,497					$	1,301					$	1,244
Additions based on tax positions related to the current year			395						401						367
Additions for tax positions of prior years			1,556						62						50
Settlements or lapse of statute of limitations			(291)						(267)						(360)
Balance at end of year			$	3,157					$	1,497					$	1,301

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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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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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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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