Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) for the years ended December 31, are as follows:

	Year ended December 31,
($ in thousands)	2021		2020		2019
Current:
Federal	$	29,835	$	25,132	$	15,470
State and local	5,198		5,009		2,027
Total current	35,033		30,141		17,497
Deferred:
Federal	870		(10,651)		4,262
State and local	(325)		(1,927)		1,538
Total deferred	545		(12,578)		5,800
Total income tax expense	$	35,578	$	17,563	$	23,297

Schedule of Income Tax Rate Reconciliation

A reconciliation of expected income tax expense, computed by applying the statutory federal income tax rate in 2021, 2020, and 2019 to income before income taxes and the amounts reflected in the consolidated statements of operations is as follows:

	Year ended December 31,
($ in thousands)	2021		2020		2019
Income tax expense at statutory rate	$	35,413	$	19,309	$	24,368
Increase (reduction) in income tax resulting from:
Tax-exempt interest income, net	(3,198)		(2,010)		(962)
State and local income taxes, net	4,936		3,254		2,816
Bank-owned life insurance, net	(713)		(778)		(628)
Non-deductible expenses	1,090		637		749
Tax benefit of low-income housing tax credit ("LIHTC") investments, net	(132)		(444)		(278)
Excess tax benefits	146		(175)		(526)
Federal tax credits	(1,136)		(1,327)		(913)
Non-taxable donation to charitable foundation	(263)		—		(420)
Other, net	(565)		(903)		(909)
Total income tax expense	$	35,578	$	17,563	$	23,297

Schedule of Deferred Tax Assets and Deferred Tax Liabilities

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

	Year ended December 31,
($ in thousands)	2021		2020
Deferred tax assets:
Allowance for loan losses	$	36,550	$	34,031
Loans held-for-sale	6,971		8,058
Other real estate	305		896
Deferred compensation	2,704		2,585
Accrued compensation	5,881		5,391
Net operating losses and tax credits	6,061		6,460
Other deferred tax assets	5,671		3,086
Total deferred tax assets	64,143		60,507
Deferred tax liabilities:
Acquired loans	1,709		3,413
Unrealized gains on securities	6,171		12,189
Intangible assets	8,789		7,800
Other deferred tax liabilities	3,754		4,369
Total deferred tax liabilities	20,423		27,771
Net deferred tax asset before valuation allowance	43,720		32,736
Less: valuation allowance	2,830		2,932
Net deferred tax asset	$	40,890	$	29,804

Schedule of Unrecognized Tax Benefits

The activity in the gross liability for unrecognized tax benefits was as follows:

($ in thousands)	2021		2020		2019
Balance at beginning of year	$	3,157	$	1,497	$	1,301
Additions based on tax positions related to the current year	563		395		401
Additions for tax positions of prior years	436		1,556		62
Settlements for tax positions of prior years	(1,289)		—		—
Settlements or lapse of statute of limitations	(170)		(291)		(267)
Balance at end of year	$	2,697	$	3,157	$	1,497