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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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)			2022						2021						2020
Current:
Federal			$	42,718					$	29,835					$	25,132
State and local			11,505						5,198						5,009
Total current			54,223						35,033						30,141
Deferred:
Federal			1,853						870						(10,651)
State and local			341						(325)						(1,927)
Total deferred			2,194						545						(12,578)
Total income tax expense			$	56,417					$	35,578					$	17,563

Schedule of Income Tax Rate Reconciliation

A reconciliation of expected income tax expense, computed by applying the statutory federal income tax rate to income before income taxes reflected in the Consolidated Statements of Income is as follows:

			Year ended December 31,
($ in thousands)			2022						2021						2020
Income tax expense at statutory rate			$	54,487					$	35,413					$	19,309
Increase (reduction) in income tax resulting from:
Tax-exempt interest income, net			(4,351)						(3,198)						(2,010)
State and local income taxes, net			9,767						4,936						3,254
Bank-owned life insurance			(545)						(713)						(778)
Non-deductible expenses			926						1,090						637
Tax benefit of low-income housing tax credit ("LIHTC") investments, net			(195)						(132)						(444)
Excess tax benefits			(68)						146						(175)
Federal tax credits			(3,661)						(1,136)						(1,327)
Non-taxable donation to charitable foundation			—						(263)						—
Other, net			57						(565)						(903)
Total income tax expense			$	56,417					$	35,578					$	17,563

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)			2022						2021
Deferred tax assets:
Allowance for loan losses			$	34,507					$	36,550
Loans held-for-sale			5,917						6,971
Other real estate			179						305
Deferred compensation			3,527						2,704
Accrued compensation			6,294						5,881
Unrealized losses on securities, net			44,094						—
Net operating losses and tax credits			5,829						6,061
Lease liability accrual			4,545						3,747
Other investments			4,293						3,169
Other deferred tax assets			6,463						5,594
Total deferred tax assets			115,648						70,982
Deferred tax liabilities:
Acquired loans			2,212						1,709
Unrealized gains on securities, net			—						6,171
Intangible assets			8,676						8,789
Right of use asset			4,374						3,670
Other investments			7,530						5,646
Other deferred tax liabilities			1,065						1,277
Total deferred tax liabilities			23,857						27,262
Net deferred tax asset before valuation allowance			91,791						43,720
Less: valuation allowance			2,830						2,830
Net deferred tax asset			$	88,961					$	40,890

Schedule of Unrecognized Tax Benefits

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

($ in thousands)			2022						2021						2020
Balance at beginning of year			$	2,697					$	3,157					$	1,497
Additions based on tax positions related to the current year			683						563						395
Additions for tax positions of prior years			47						436						1,556
Settlements for tax positions of prior years			(82)						(1,289)						—
Settlements or lapse of statute of limitations			(621)						(170)						(291)
Balance at end of year			$	2,724					$	2,697					$	3,157

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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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