Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes [Abstract]

Current and Deferred Income Tax Expense (Benefit)

Current and deferred income tax expense (benefit) provided for the years ended December 31 consisted of the following:

(in thousands)	2016			2015		2014
Current
Federal	$	13,101		$	11,979	$	7,941
State		4,832			4,446		4,345
Total Current		17,933			16,425		12,286
Deferred
Federal		(1,607	)		383		3,116
State		(229	)		116		(308	)
Total Deferred		(1,836	)		499		2,808
Total Provision for Taxes	$	16,097		$	16,924	$	15,094

Total Provision for Income Taxes Reconciliation with Federal Statutory Rate

The total provision for income taxes differs from the federal statutory rate as follows:

	2016						2015						2014
(in thousands)	Amount			Rate			Amount			Rate			Amount			Rate
Tax Provision at Federal Statutory Rate	$	16,037			35.0	%	$	15,510			35.0	%	$	14,174			35.0	%
Interest on Obligations of States and Political Subdivisions exempt from Federal Taxation		(675	)		(1.5	%)		(711	)		(1.6	%)		(805	)		(2.0	%)
State and Local Income Taxes, Net of Federal Income Tax Benefit		2,992			6.5	%		2,966			6.7	%		2,624			6.5	%
Bank Owned Life Insurance		(731	)		(1.6	%)		(712	)		(1.6	%)		(696	)		(1.7	%)
Low-Income Housing Tax Credit		(1,201	)		(2.6	%)		(291	)		(0.7	%)		(126	)		(0.3	%)
Bargain Purchase Gain		(641	)		(1.4	%)		-			0.0	%		-			0.0	%
Other, Net		316			0.7	%		162			0.4	%		(77	)		(0.2	%)
Total Provision for Taxes	$	16,097			35.1	%	$	16,924			38.2	%	$	15,094			37.3	%

Components of Net Deferred Tax Assets

The components of net deferred tax assets as of December 31 are as follows: The net deferred tax assets are reported in Interest Receivable and Other Assets on the Company's Consolidated Balance Sheet.

(in thousands)	2016			2015
Deferred Tax Assets
Allowance for Credit Losses	$	20,260		$	17,529
Accrued Liabilities		9,807			8,614
Deferred Compensation		14,166			11,586
State Franchise Tax		1,680			1,549
Acquired Net Operating Loss		1,135			-
Fair Value Adjustment on Loans Acquired		429			-
Fair Value Adjustment on ORE Acquired		299			-
ORE Writedown and Holding Costs		-			1,547
Unrealized Loss on Securities Available-for-Sale		58			-
Low-Income Housing Investment		366			73
Other		233			46
Total Deferred Tax Assets	$	48,433		$	40,944
Deferred Tax Liabilities
Premises and Equipment		(1,707	)		(869	)
Securities Accretion		(341	)		(310	)
Unrealized Gain on Securities Available-for-Sale		-			(432	)
Leasing Activities		(14,868	)		(11,469	)
Core Deposit Intangible Asset		(398	)		-
Other		(808	)		(744	)
Total Deferred Tax Liabilities		(18,122	)		(13,824	)
Net Deferred Tax Assets	$	30,311		$	27,120