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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
| (In thousands)
Unrecognized tax benefits at beginning of year | $ | 1,039 |  |  | $ | 934 |  |  | $ | 1,765 |
Gross increases for tax positions of prior years | — |  |  | 105 |  |  | — |
Lapse of statute of limitations | — |  |  | — |  |  | (831 | )
Unrecognized tax benefits at end of year | $ | 1,039 |  |  | $ | 1,039 |  |  | $ | 934 |
Summary of Provision (Benefit) for Income Taxes | A summary of the provision for income taxes was as follows:
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
| (In thousands)
Current expense: |  |  |  |  |
Federal | $ | 20,924 |  |  | $ | 19,802 |  |  | $ | 14,755 |
State | 6,804 |  |  | 6,503 |  |  | 5,084 |
Total current expense | 27,728 |  |  | 26,305 |  |  | 19,839 |
Deferred expense (benefit): |  |  |  |  |
Federal | 14,623 |  |  | 4,410 |  |  | 13,663 |
State | (1,727 | ) |  | 2,184 |  |  | 4,680 |
Total deferred expense | 12,896 |  |  | 6,594 |  |  | 18,343 |
Provision for income taxes | $ | 40,624 |  |  | $ | 32,899 |  |  | $ | 38,182 |
Summary of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities were as follows:
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
| (In thousands)
Deferred tax assets: |  |  |  |  |
Allowance for loan and lease losses | $ | 9,282 |  |  | $ | 13,932 |  |  | $ | 18,205 |
Depreciation | 192 |  |  | — |  |  | — |
Purchase accounting | 4,685 |  |  | 7,492 |  |  | 13,156 |
Net operating loss carryforward | 18,648 |  |  | 16,876 |  |  | 21,511 |
Unrealized loss on securities available for sale | 919 |  |  | 1,695 |  |  | 859 |
Indemnified assets | 701 |  |  | 1,441 |  |  | 152 |
Tax credit | 1,241 |  |  | 3,516 |  |  | 3,939 |
State taxes | 1,489 |  |  | 2,231 |  |  | 1,539 |
Other | 3,724 |  |  | 5,726 |  |  | 5,040 |
Total deferred tax assets | 40,881 |  |  | 52,909 |  |  | 64,401 |
Deferred tax liabilities: |  |  |  |  |
Mark to market | (4,879 | ) |  | (3,960 | ) |  | (10,469 | )
Depreciation | — |  |  | (396 | ) |  | (705 | )
Other | (797 | ) |  | (1,190 | ) |  | (1,132 | )
Total deferred tax liabilities | (5,676 | ) |  | (5,546 | ) |  | (12,306 | )
Valuation Allowance | (2,750 | ) |  | (1,031 | ) |  | — |
Net deferred tax assets | $ | 32,455 |  |  | $ | 46,332 |  |  | $ | 52,095 |
Reconciliation between Federal Statutory Income Tax Rate and Effective Tax Rate | Reconciliation between the federal statutory income tax rate and the effective tax rate is shown in the following table:
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Federal statutory income tax rate | 35.00 | % |  | 35.00 | % |  | 35.00 | %
State taxes, net of federal tax benefits | 6.64 | % |  | 7.04 | % |  | 8.32 | %
Tax-exempt municipal securities | (0.24 | )% |  | (0.26 | )% |  | (0.26 | )%
Tax credit - federal | (2.37 | )% |  | (2.50 | )% |  | (2.51 | )%
Federal rate adjustment, net of federal benefit of state | 4.18 | % |  | — | % |  | — | %
Other | (0.58 | )% |  | (2.48 | )% |  | 0.95 | %
Effective tax rate | 42.63 | % |  | 36.80 | % |  | 41.50 | %

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