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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Schedule of Allocation of Federal and State Income Taxes between Current and Deferred Portions

Allocation of federal and state income taxes between current and deferred portions is as follows:

 

 

 

December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Current

 

$

14,629

 

 

$

12,476

 

 

$

1,321

 

Deferred

 

 

6,458

 

 

 

9,257

 

 

 

1,647

 

Total

 

$

21,087

 

 

$

21,733

 

 

$

2,968

 

 

Schedule of Reconciliation of Income Taxes Computed at the United States Federal Statutory Tax Rates to the Provision for Income Taxes

The reconciliation of income taxes computed at the United States federal statutory tax rates to the provision for income taxes is as follows, for the periods presented:

 

 

 

December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Federal taxes calculated at statutory rate

 

$

25,720

 

 

$

5,061

 

 

$

 

Increase (decrease) resulting from:

 

 

 

 

 

 

 

 

 

 

 

 

State taxes, net of federal benefit

 

 

3,053

 

 

 

3,664

 

 

 

2,956

 

Revaluation of net deferred tax liability as a result of the Tax

   Cuts and Jobs Act

 

 

(5,894

)

 

 

 

 

 

 

Conversion as of September 16, 2016 to C Corporation

 

 

 

 

 

13,181

 

 

 

 

Benefit of equity based compensation

 

 

(310

)

 

 

(786

)

 

 

 

Permanent items

 

 

(1,402

)

 

 

(633

)

 

 

12

 

Other

 

 

(80

)

 

 

1,246

 

 

 

 

Income tax expense, as reported

 

$

21,087

 

 

$

21,733

 

 

$

2,968

 

 

Schedule of Net Deferred Tax liability

The components of the net deferred tax liability at December 31, 2017 and 2016, are as follows:

 

 

 

For the year ended

 

 

 

 

December 31,

 

 

 

 

2017

 

 

2016

 

 

Deferred tax assets:

 

 

 

 

 

 

 

 

 

Allowance for loan losses

 

$

6,264

 

 

$

8,516

 

 

Amortization of core deposit intangible

 

 

759

 

 

 

996

 

 

Compensation related

 

 

6,158

 

 

 

7,552

 

 

Unrealized loss on securities

 

 

988

 

 

 

2,462

 

 

Other

 

 

3,599

 

 

 

2,430

 

 

Subtotal

 

 

17,768

 

 

 

21,956

 

 

Deferred tax liabilities:

 

 

 

 

 

 

 

 

 

FHLB stock dividends

 

 

(550

)

 

 

(827

)

 

Depreciation

 

 

(4,115

)

 

 

(6,548

)

 

Mortgage servicing rights

 

 

(19,830

)

 

 

(12,558

)

 

Other

 

 

(5,131

)

 

 

(6,203

)

 

Subtotal

 

 

(29,626

)

 

 

(26,136

)

 

Net deferred tax liability

 

$

(11,858

)

 

$

(4,180

)