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INCOME AND FRANCHISE TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense (benefit)

Components of income tax expense (benefit) for the years ended December 31, 2015, 2014 and 2013 were as follows:

	Current				Deferred				Total
	(Dollars in thousands)
Year ended December 31, 2015
Federal	$	1,128			$	20,061			$	21,189
State	(119		)		6,018				5,899
Total	$	1,009			$	26,079			$	27,088
Year ended December 31, 2014
Federal	$	—			$	18,710			$	18,710
State	(93		)		1,772				1,679
Total	$	(93	)		$	20,482			$	20,389
Year ended December 31, 2013
Federal	$	—			$	(81,613	)		$	(81,613	)
State	(109		)		(30,525		)		(30,634		)
Total	$	(109	)		$	(112,138	)		$	(112,247	)

Schedule of the reasons of difference between the income tax expense (benefit) and the expected tax expense

Income tax expense (benefit) for the periods presented differed from the “expected” tax expense (computed by applying the U.S. Federal corporate tax rate of 35% to income (loss) before income taxes) for the following reasons:

	Year Ended December 31,
	2015				2014				2013
	(Dollars in thousands)
Computed “expected” tax expense (benefit)	$	25,535			$	21,295			$	20,940
Increase (decrease) in taxes resulting from:
Tax-exempt interest	(1,420		)		(1,412		)		(1,431		)
Other tax-exempt income	(712		)		(1,023		)		(810		)
Low-income housing and energy tax credits	(1,225		)		(2,088		)		(1,557		)
State income taxes, net of Federal income tax effect, excluding impact of deferred tax valuation allowance	3,958				2,638				2,389
Change in the beginning-of-the-year balance of the valuation allowance for deferred tax assets allocated to income tax expense	(44		)		(180		)		(129,806		)
Other	996				1,159				(1,972		)
Total	$	27,088			$	20,389			$	(112,247	)

Schedule of the tax effects of temporary differences giving rise to significant portions of the deferred tax assets and deferred tax liabilities

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities were as follows:

	December 31,
	2015				2014
	(Dollars in thousands)
Deferred tax assets
Allowance for loan and lease losses	$	22,275			$	26,052
Accrued expenses	2,555				2,981
Employee retirement benefits	6,921				11,023
Federal and state tax credit carryforwards	34,821				30,593
Interest on nonaccrual loans	606				1,600
Federal and state net operating loss carryforwards	19,850				57,173
Restricted stock and nonqualified stock options	1,049				—
Other	9,227				13,357
Total deferred tax assets	$	97,304			$	142,779
Deferred tax liabilities
Intangible assets	$	10,006			$	11,803
FHLB stock dividends received	—				10,742
Leases	423				1,203
Deferred gain on curtailed retirement plan	—				3,315
Liability on utilization of state tax credits	—				6,237
Other	2,093				2,234
Total deferred tax liabilities	$	12,522			$	35,534
Deferred tax valuation allowance	$	2,803			$	2,847
Net deferred tax assets	$	81,979			$	104,398

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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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- Definition

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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