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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense (Benefit) | Income tax expense (benefit) for the years ended December 31 is comprised of:
(dollars in thousands) | 2017 |  |  | 2016 |  |  | 2015 |
Federal |  |  |  |  |
Current | $ | 32,282 |  |  | $ | 24,521 |  |  | $ | 24,825 |
Deferred | 13,980 |  |  | 665 |  |  | (427 | )
Total Federal | 46,262 |  |  | 25,186 |  |  | 24,398 |
State |  |  |  |  |
Current | 323 |  |  | 248 |  |  | — |
Deferred | (148 | ) |  | (129 | ) |  | — |
Total State | 175 |  |  | 119 |  |  | — |
Total Federal and State | $ | 46,437 |  |  | $ | 25,305 |  |  | $ | 24,398 |
Schedule of Statutory to Effective Tax Rate Reconciliation | The statutory to effective tax rate reconciliation for the years ended December 31 is as follows:
| 2017 |  |  | 2016 |  |  | 2015 |
Statutory tax rate | 35.0 | % |  | 35.0 | % |  | 35.0 | %
Low income housing tax credits | (2.9 | )% |  | (3.8 | )% |  | (4.4 | )%
Tax-exempt interest | (4.0 | )% |  | (4.4 | )% |  | (4.1 | )%
Bank owned life insurance | (0.8 | )% |  | (0.8 | )% |  | (0.8 | )%
Other | 0.3 | % |  | 0.2 | % |  | 1.0 | %
Adjustment to net deferred tax assets for enacted changes in tax laws and rates | 11.3 | % |  | — | % |  | — | %
Effective Tax Rate | 38.9 | % |  | 26.2 | % |  | 26.7 | %
Schedule of Significant Components of Temporary Differences | Significant components of our temporary differences were as follows at December 31:
(dollars in thousands) | 2017 |  |  | 2016 |
Deferred Tax Assets: |  |  |
Allowance for loan losses | 12,440 |  |  | 19,446 |
Purchase accounting adjustments | — |  |  | 365 |
Other employee benefits | 3,095 |  |  | 3,983 |
Low income housing partnerships | 3,213 |  |  | 4,845 |
Net adjustment to funded status of pension | 6,481 |  |  | 10,018 |
Impairment of securities | 300 |  |  | 1,318 |
State net operating loss carryforwards | 3,598 |  |  | 3,114 |
Other | 2,355 |  |  | 4,984 |
Gross Deferred Tax Assets | 31,482 |  |  | 48,073 |
Less: Valuation allowance | (3,598 | ) |  | (3,114 | )
Total Deferred Tax Assets | 27,884 |  |  | 44,959 |
Deferred Tax Liabilities: |  |  |
Net unrealized holding gains on securities available-for-sale | $ | (638 | ) |  | $ | (2,557 | )
Prepaid pension | (1,749 | ) |  | (2,770 | )
Deferred loan income | (2,937 | ) |  | (3,815 | )
Purchase accounting adjustments | (100 | ) |  | — |
Depreciation on premises and equipment | (480 | ) |  | (1,239 | )
Other | (1,401 | ) |  | (1,766 | )
Total Deferred Tax liabilities | (7,305 | ) |  | (12,147 | )
Net Deferred Tax Asset | $ | 20,579 |  |  | $ | 32,812 |
Schedule of Reconciliation of Change in Federal and State Gross Unrecognized Tax Benefits | The following table reconciles the change in Federal and State gross unrecognized tax benefits, or UTB, for the years ended December 31:
(dollars in thousands) | 2017 |  |  | 2016 |  |  | 2015 |
Balance at beginning of year | $ | 804 |  |  | $ | 1,102 |  |  | $ | 284 |
Prior period tax positions |  |  |  |  |
Increase | — |  |  | — |  |  | 818 |
Decrease | (37 | ) |  | (449 | ) |  | — |
Current period tax positions | 142 |  |  | 151 |  |  | — |
Reductions for statute of limitations expirations | — |  |  | — |  |  | — |
Balance at End of Year | $ | 909 |  |  | $ | 804 |  |  | $ | 1,102 |
Amount That Would Impact the Effective Tax Rate if Recognized | $ | 770 |  |  | $ | 610 |  |  | $ | 542 |

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