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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 provision for income taxes | The following were the components of provision for income taxes for the years ended December 31, 2019, 2018, and 2017
|  | 2019 |  |  | 2018 |  |  | 2017 |
Current tax expense: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 18,976 |  |  | $ | — |  |  | $ | 1,010 |
State and local |  |  | 2,199 |  |  |  | 1,078 |  |  |  | 1,485 |
Total current tax expense |  |  | 21,175 |  |  |  | 1,078 |  |  |  | 2,495 |
Deferred tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (3,676 | ) |  |  | 11,469 |  |  |  | 13,554 |
State and local |  |  | 2,794 |  |  |  | 2,460 |  |  |  | 686 |
Remeasurement of net deferred tax assets |  |  | — |  |  |  | (760 | ) |  |  | 2,364 |
Total deferred tax expense (benefit) |  |  | (882 | ) |  |  | 13,169 |  |  |  | 16,604 |
Provision for income taxes |  | $ | 20,293 |  |  | $ | 14,247 |  |  | $ | 19,099 |
Schedule of reconciliation between statutory U.S. federal income tax rate and effective tax rate | The following is a reconciliation between the statutory U.S. federal income tax rate of 21% for 2019 and 2018, and 35% for 2017, and the effective tax rate:
|  | 2019 |  |  | 2018 |  |  | 2017 |  |
Calculated tax benefit at statutory rate |  |  | 21.0 |  | % |  | 21.0 |  | % |  | 35.0 |  | %
Increase (decrease) in income taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |  |
State taxes, net of federal income tax |  |  | 5.6 |  |  |  | 7.0 |  |  |  | 6.5 |  |
Tax exempt income |  |  | (0.5 | ) |  |  | (0.5 | ) |  |  | (0.7 | ) |
Share-based compensation |  |  | (0.1 | ) |  |  | (0.9 | ) |  |  | — |  |
Non-deductible expenses |  |  | 0.3 |  |  |  | 0.5 |  |  |  | 0.2 |  |
Remeasurement of net deferred tax assets |  |  | — |  |  |  | (1.4 | ) |  |  | 5.8 |  |
Total income tax expense (benefit) |  |  | 26.3 |  | % |  | 25.7 |  | % |  | 46.8 |  | %
Schedule of components of deferred tax assets and liabilities | The following were the significant components of the deferred tax assets and liabilities as of December 31, 2019 and 2018:
|  | 2019 |  |  | 2018 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating losses and tax credits |  | $ | 26,108 |  |  | $ | 25,851 |
Interest on non-accrual loans |  |  | 3,201 |  |  |  | 3,039 |
Allowance for loan losses and loan basis |  |  | 24,027 |  |  |  | 15,641 |
Deposits |  |  | 42 |  |  |  | 90 |
Other real estate owned |  |  | 413 |  |  |  | 393 |
Net unrealized holding losses on securities available-for-sale |  |  | — |  |  |  | 4,622 |
Net unrealized holding losses on cash flow hedges |  |  | 141 |  |  |  | — |
Accrued expenses |  |  | 3,291 |  |  |  | 3,747 |
Other |  |  | 2,225 |  |  |  | 2,075 |
Total deferred tax assets |  |  | 59,448 |  |  |  | 55,458 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Premises and equipment |  |  | (1,952 | ) |  |  | (3,752 | )
Core deposit intangibles |  |  | (8,883 | ) |  |  | (9,306 | )
Servicing assets |  |  | (5,422 | ) |  |  | (337 | )
Trust preferred securities |  |  | (2,552 | ) |  |  | (2,710 | )
Net unrealized holding gain on securities available-for-sale |  |  | (804 | ) |  |  | — |
Net unrealized holding gain on cash flow hedges |  |  | — |  |  |  | (1,839 | )
Other |  |  | (1,520 | ) |  |  | (1,871 | )
Total deferred tax liabilities |  |  | (21,133 | ) |  |  | (19,815 | )
Net deferred tax assets |  | $ | 38,315 |  |  | $ | 35,643 |
Operating Loss and Credit Carryforwards |
|  | 2019 |  |  | 2018 |
NOL carryforwards available to offset future taxable income: |  |  |  |  |  |  |  |
Federal gross NOL carryforwards - begin to expire in 2030 |  | $ | 14,357 |  |  | $ | 1,233 |
Illinois gross NLD carryforwards - begin to expire in 2022 |  |  | 307,705 |  |  |  | 340,999 |

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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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