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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
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:
| 2019 |  | 2018 |  | 2017
| (dollars in thousands)
Current tax provision: |  |  |  |  |
Federal | $ | 22,942 |  |  | $ | 21,330 |  |  | $ | 29,071 |
State | 282 |  |  | 298 |  |  | 274 |
Total current tax provision | 23,224 |  |  | 21,628 |  |  | 29,345 |
Deferred tax provision (benefit): |  |  |  |  |
Federal | 2,284 |  |  | 3,666 |  |  | 19,237 |
State | 8 |  |  | (20 | ) |  | (21 | )
Total deferred tax provision | 2,292 |  |  | 3,646 |  |  | 19,216 |
Total tax provision | $ | 25,516 |  |  | $ | 25,274 |  |  | $ | 48,561 |
Schedule of Effective Income Tax Rate Reconciliation | The statutory to effective tax rate reconciliation for the years ended December 31 is as follows:
| 2019 |  | 2018 |  | 2017
| Amount |  | % of Pretax Income |  | Amount |  | % of Pretax Income |  | Amount |  | % of Pretax Income
| (dollars in thousands)
Tax at statutory rate | $ | 27,478 |  |  | 21 | % |  | $ | 27,882 |  |  | 21 | % |  | $ | 36,304 |  |  | 35 | %
Increase (decrease) resulting from: |  |  |  |  |  |  |  |  |  |  |
State income tax, net of federal benefit | 229 |  |  | — |  |  | 220 |  |  | — |  |  | 164 |  |  | — |
Income from bank owned life insurance | (1,260 | ) |  | (1 | ) |  | (1,404 | ) |  | (1 | ) |  | (1,995 | ) |  | (2 | )
Tax-exempt interest income, net | (1,298 | ) |  | (1 | ) |  | (1,473 | ) |  | (1 | ) |  | (2,709 | ) |  | (3 | )
Tax credits | (7 | ) |  | — |  |  | (5 | ) |  | — |  |  | (11 | ) |  | — |
Enactment of federal tax reform | — |  |  | — |  |  | (346 | ) |  | — |  |  | 16,709 |  |  | 17 |
Other | 374 |  |  | — |  |  | 400 |  |  | — |  |  | 99 |  |  | — |
Total tax provision | $ | 25,516 |  |  | 19 | % |  | $ | 25,274 |  |  | 19 | % |  | $ | 48,561 |  |  | 47 | %
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:
| 2019 |  | 2018
| (dollars in thousands)
Deferred tax assets: |  |  |
Lease liability | $ | 11,203 |  |  | $ | — |
Allowance for credit losses | 10,937 |  |  | 10,116 |
Postretirement benefits other than pensions | 275 |  |  | 311 |
Alternative minimum tax credit carryforward | 216 |  |  | 216 |
Unrealized loss on securities available for sale | — |  |  | 3,137 |
Net operating loss carryforward | 2,017 |  |  | 3,636 |
Writedown of other real estate owned | 48 |  |  | 711 |
Deferred compensation | 1,720 |  |  | 1,426 |
Accrued interest on nonaccrual loans | 710 |  |  | 629 |
Accrued incentives | 2,185 |  |  | 2,477 |
Unfunded loan commitments & other reserves | 964 |  |  | 1,064 |
Deferred rent | 28 |  |  | 799 |
Other | 956 |  |  | 1,486 |
Total deferred tax assets | 31,259 |  |  | 26,008 |
Deferred tax liabilities: |  |  |
Right of use asset | $ | (10,302 | ) |  | $ | — |
Unrealized gain on securities available for sale | (1,386 | ) |  | — |
Depreciation of assets | (1,470 | ) |  | (1,378 | )
Other | (1,239 | ) |  | (1,064 | )
Total deferred tax liabilities | (14,397 | ) |  | (2,442 | )
Net deferred tax asset | $ | 16,862 |  |  | $ | 23,566 |

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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://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=84230637&loc=d3e32639-109319 + Details
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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://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=84230637&loc=d3e32537-109319 + Details
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