XML 64 R48.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The components of income tax expense (benefit) for the years ended December 31, are as follows:
| Year ended December 31,
($ in thousands) | 2021 |  | 2020 |  | 2019
Current: |  |  |  |  |
Federal | $ | 29,835 |  |  | $ | 25,132 |  |  | $ | 15,470 |
State and local | 5,198 |  |  | 5,009 |  |  | 2,027 |
Total current | 35,033 |  |  | 30,141 |  |  | 17,497 |
Deferred: |  |  |  |  |
Federal | 870 |  |  | (10,651) |  |  | 4,262 |
State and local | (325) |  |  | (1,927) |  |  | 1,538 |
Total deferred | 545 |  |  | (12,578) |  |  | 5,800 |
Total income tax expense | $ | 35,578 |  |  | $ | 17,563 |  |  | $ | 23,297 |
Schedule of Income Tax Rate Reconciliation | A reconciliation of expected income tax expense, computed by applying the statutory federal income tax rate in 2021, 2020, and 2019 to income before income taxes and the amounts reflected in the consolidated statements of operations is as follows:
| Year ended December 31,
($ in thousands) | 2021 |  | 2020 |  | 2019
Income tax expense at statutory rate | $ | 35,413 |  |  | $ | 19,309 |  |  | $ | 24,368 |
Increase (reduction) in income tax resulting from: |  |  |  |  |
Tax-exempt interest income, net | (3,198) |  |  | (2,010) |  |  | (962) |
State and local income taxes, net | 4,936 |  |  | 3,254 |  |  | 2,816 |
Bank-owned life insurance, net | (713) |  |  | (778) |  |  | (628) |
Non-deductible expenses | 1,090 |  |  | 637 |  |  | 749 |
Tax benefit of low-income housing tax credit ("LIHTC") investments, net | (132) |  |  | (444) |  |  | (278) |
Excess tax benefits | 146 |  |  | (175) |  |  | (526) |
Federal tax credits | (1,136) |  |  | (1,327) |  |  | (913) |
Non-taxable donation to charitable foundation | (263) |  |  | — |  |  | (420) |
Other, net | (565) |  |  | (903) |  |  | (909) |
Total income tax expense | $ | 35,578 |  |  | $ | 17,563 |  |  | $ | 23,297 |
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) | 2021 |  | 2020
Deferred tax assets: |  |  |
Allowance for loan losses | $ | 36,550 |  |  | $ | 34,031 |
Loans held-for-sale | 6,971 |  |  | 8,058 |
Other real estate | 305 |  |  | 896 |
Deferred compensation | 2,704 |  |  | 2,585 |
Accrued compensation | 5,881 |  |  | 5,391 |
Net operating losses and tax credits | 6,061 |  |  | 6,460 |
Other deferred tax assets | 5,671 |  |  | 3,086 |
Total deferred tax assets | 64,143 |  |  | 60,507 |
Deferred tax liabilities: |  |  |
Acquired loans | 1,709 |  |  | 3,413 |
Unrealized gains on securities | 6,171 |  |  | 12,189 |
Intangible assets | 8,789 |  |  | 7,800 |
Other deferred tax liabilities | 3,754 |  |  | 4,369 |
Total deferred tax liabilities | 20,423 |  |  | 27,771 |
Net deferred tax asset before valuation allowance | 43,720 |  |  | 32,736 |
Less: valuation allowance | 2,830 |  |  | 2,932 |
Net deferred tax asset | $ | 40,890 |  |  | $ | 29,804 |
Schedule of Unrecognized Tax Benefits | The activity in the gross liability for unrecognized tax benefits was as follows:
($ in thousands) | 2021 |  | 2020 |  | 2019
Balance at beginning of year | $ | 3,157 |  |  | $ | 1,497 |  |  | $ | 1,301 |
Additions based on tax positions related to the current year | 563 |  |  | 395 |  |  | 401 |
Additions for tax positions of prior years | 436 |  |  | 1,556 |  |  | 62 |
Settlements for tax positions of prior years | (1,289) |  |  | — |  |  | — |
Settlements or lapse of statute of limitations | (170) |  |  | (291) |  |  | (267) |
Balance at end of year | $ | 2,697 |  |  | $ | 3,157 |  |  | $ | 1,497 |

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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=124434304&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration