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Income Taxes
6 Months Ended
Jun. 30, 2017
Income Tax Disclosure [Abstract]  
Income Taxes

Note 13 Income Taxes

 

The effective income tax rate for the three and six months ended June 30, 2017 was an expense of 19.10% and 5.1%, respectively, compared to an expense of 17.9% and 19.8% for the three and six months ended June 30, 2016, calculated based on a full year forecast method. The tax expense recorded for the three and six months ended June 30, 2017 was lowered by a $0.5 million and $3.4 million tax benefit from stock compensation activity during the respective periods. Without the discrete items related to stock compensation activity, the three and six month ended June 30, 2017 effective tax rate was consistent period-to-period. The quarterly tax rate differs from the federal statutory rate primarily due to tax benefits from stock compensation activity, interest income from tax-exempt lending, bank-owned life insurance income, and the relationship of these items to pre-tax income. See management’s discussion and analysis for further information.