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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2018
Income Tax Disclosure [Abstract] |
Components of Income Tax Expense Benefit | The provision (benefit) for income taxes for the years ended December 31, 2018, 2017 and 2016 consists of the following (in thousands):
|  | For the Year Ended December 31,
|  | 2018 |  | 2017 |  | 2016
Current |  |  |  |  |  |
Federal |  | $ | 18,030 |  |  | $ | (12,754 | ) |  | $ | 6,259 |
State |  | 108 |  |  | 169 |  |  | 96 |
Total current |  | 18,138 |  |  | (12,585 | ) |  | 6,355 |
Deferred |  |  |  |  |  |
Federal |  | (4,568 | ) |  | 35,440 |  |  | 5,798 |
State |  | — |  |  | — |  |  | — |
Total deferred |  | (4,568 | ) |  | 35,440 |  |  | 5,798 |
|  | $ | 13,570 |  |  | $ | 22,855 |  |  | $ | 12,153 |
Schedule of Income Tax Reconciliation | A reconciliation between the provision for income taxes and the expected amount computed by multiplying income before the provision for income taxes times the applicable statutory Federal income tax rate for the years ended December 31, 2018, 2017 and 2016 is as follows (in thousands):
|  | For the Year Ended December 31,
|  | 2018 |  | 2017 |  | 2016
Income before provision for income taxes |  | $ | 85,502 |  |  | $ | 65,325 |  |  | $ | 35,199 |
Applicable statutory Federal income tax rate |  | 21.0 | % |  | 35.0 | % |  | 35.0 | %
Computed “expected” Federal income tax expense |  | $ | 17,955 |  |  | $ | 22,864 |  |  | $ | 12,320 |
(Decrease) increase in Federal income tax expense resulting from |  |  |  |  |  |
Tax exempt interest |  | (615 | ) |  | (839 | ) |  | (390 | )
ESOP fair market value adjustment |  | 125 |  |  | 223 |  |  | 131 |
ESOP dividends |  | (136 | ) |  | (230 | ) |  | (223 | )
Earnings on BOLI |  | (1,072 | ) |  | (1,155 | ) |  | (781 | )
Merger related expenses |  | 322 |  |  | 478 |  |  | 1,005 |
State income taxes net of Federal benefit |  | 85 |  |  | 110 |  |  | 62 |
Stock compensation |  | (758 | ) |  | (1,823 | ) |  | — |
Impact of Tax Cuts and Jobs Act (“Tax Reform”) |  | (1,854 | ) |  | 3,643 |  |  | — |
Reclassification of certain tax effect from accumulated other comprehensive income |  | (586 | ) |  | — |  |  | — |
Other items, net |  | 104 |  |  | (416 | ) |  | 29 |
|  | $ | 13,570 |  |  | $ | 22,855 |  |  | $ | 12,153 |
Schedule of Significant Portions of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2018 and 2017 are presented in the following table (in thousands):
|  | December 31,
|  | 2018 |  | 2017
Deferred tax assets: |  |  |  |
Allowance for loan losses |  | $ | 3,501 |  |  | $ | 3,311 |
Reserve for repurchased loans |  | 55 |  |  | 97 |
Reserve for uncollected interest |  | 119 |  |  | 49 |
Incentive compensation |  | 1,302 |  |  | — |
Deferred compensation |  | 529 |  |  | 519 |
Other reserves |  | 334 |  |  | 115 |
Stock plans |  | 950 |  |  | 864 |
ESOP |  | 142 |  |  | 126 |
Purchase accounting adjustments |  | 59,110 |  |  | 3,436 |
Net operating loss carryforward related to acquisition |  | 2,736 |  |  | 3,741 |
Other real estate owned |  | 90 |  |  | 170 |
Unrealized loss on securities |  | 1,225 |  |  | 1,898 |
Federal and state alternative minimum tax |  | 1,410 |  |  | 2,451 |
Total gross deferred tax assets |  | 71,503 |  |  | 16,777 |
Deferred tax liabilities: |  |  |  |
Incentive compensation |  | — |  |  | (127 | )
Excess servicing on sale of mortgage loans |  | (18 | ) |  | (28 | )
Investments, discount accretion |  | (232 | ) |  | (244 | )
Deferred loan and commitment costs, net |  | (1,478 | ) |  | (1,119 | )
Premises and equipment, differences in depreciation |  | (4,350 | ) |  | (373 | )
Undistributed REIT income |  | (1,730 | ) |  | (12,322 | )
Other |  | (318 | ) |  | (642 | )
Total gross deferred tax liabilities |  | (8,126 | ) |  | (14,855 | )
Net deferred tax assets |  | $ | 63,377 |  |  | $ | 1,922 |

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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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