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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Provision (Benefit)

The income tax provision for the years ended December 31 is as follows:

	2015				2014				2013
	(dollars in thousands)
Current tax provision for income exclusive of securities transactions:
Federal	$	8,610			$	12,661			$	2,509
State	68				157				68
Total current tax provision	8,678				12,818				2,577
Deferred tax provision	12,158				4,862				12,704
Total tax provision	$	20,836			$	17,680			$	15,281

Schedule of Effective Income Tax Rate Reconciliation

The statutory to effective tax rate reconciliation for the years ended December 31 is as follows:

	2015							2014							2013
	Amount				% of Pretax Income			Amount				% of Pretax Income			Amount				% of Pretax Income
	(dollars in thousands)
Tax at statutory rate	$	24,843			35	%		$	21,747			35	%		$	19,867			35	%
Increase (decrease) resulting from:
Income from bank owned life insurance	(1,894		)		(3	)		(1,926		)		(3	)		(1,939		)		(3	)
Tax-exempt interest income, net	(2,232		)		(3	)		(2,133		)		(4	)		(2,600		)		(5	)
Tax credits	(61		)		—			(134		)		—			(144		)		—
Other	180				—			126				—			97				—
Total tax provision	$	20,836			29	%		$	17,680			28	%		$	15,281			27	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities that represent significant portions of the deferred tax assets and liabilities at December 31 are presented below:

	2015				2014
	(dollars in thousands)
Deferred tax assets:
Allowance for credit losses	$	17,784			$	18,218
Postretirement benefits other than pensions	641				679
Alternative minimum tax credit carryforward	5,065				8,627
Litigation reserve	0				3,000
Unrealized loss on securities available for sale	1,291				2,463
Writedown of other real estate owned	1,087				603
Deferred compensation	2,113				2,246
Accrued interest on nonaccrual loans	1,452				1,059
Other-than-temporary impairment of securities	89				9,239
Depreciation of assets	879				1,127
Accrued incentives	1,629				1,594
Unfunded loan commitment allowance	1,557				1,078
Accrued severance	808				160
Basis difference in assets acquired	417				—
Loan origination fees and costs	141				—
Deferred rent	1,258				969
Other	1,105				1,194
Total deferred tax assets	37,316				52,256
Deferred tax liabilities:
Basis difference in assets acquired	—				(344		)
Loan origination fees and costs	—				(1,337		)
Income from unconsolidated subsidiary	(619		)		(603		)
Other	(337		)		(318		)
Total deferred tax liabilities	(956		)		(2,602		)
Net deferred tax asset	$	36,360			$	49,654

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- 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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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- 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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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