Income taxes (Tables)

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of Allocation of Federal and State Income Taxes between Current and Deferred Portions

An allocation of federal and state income taxes between current and deferred portions is presented below:

	Three Months Ended June 30,
	2019			2018
Current	$	6,546		$	2,195
Deferred	(232		)	5,599
Total	$	6,314		$	7,794
	Six Months Ended June 30,
	2019			2018
Current	$	16,740		$	2,195
Deferred	(4,451		)	11,081
Total	$	12,289		$	13,276

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

Federal income tax expense differs from the statutory federal rate of 21% for the three and six months ended June 30, 2019 and 2018 due to the following:

	Three Months Ended June 30,
	2019					2018
Federal taxes calculated at statutory rate	$	5,251		21.0	%	$	6,270		21.0	%
Increase (decrease) resulting from:
State taxes, net of federal benefit	1,205			4.8	%	1,543			5.2	%
Benefit of equity based compensation	(1		)	0.0	%	(15		)	(0.1	)%
Municipal interest income, net of interest disallowance	(223		)	(0.9	)%	(207		)	(0.7	)%
Bank owned life insurance	(15		)	—	%	(13		)	(0.1	)%
Stock offering costs	—			0.0	%	141			0.5	%
Other	97			0.4	%	75			0.3	%
Income tax expense, as reported	$	6,314		25.3	%	$	7,794		26.1	%
	Six Months Ended June 30,
	2019					2018
Federal taxes calculated at statutory rate	$	10,619		21.0	%	$	11,570		21.0	%
Increase (decrease) resulting from:
State taxes, net of federal benefit	2,343			4.6	%	2,686			4.9	%
Benefit of equity based compensation	(393		)	(0.8	)%	(751		)	(1.5	)%
Municipal interest income, net of interest disallowance	(439		)	(0.9	)%	(408		)	(0.7	)%
Bank owned life insurance	(27		)	—	%	(25		)	—	%
Stock offering costs	—			—	%	141			0.3	%
Other	186			0.4	%	63			0.1	%
Income tax expense, as reported	$	12,289		24.3	%	$	13,276		24.1	%

Schedule of Net Deferred Tax liability

The components of the net deferred tax liability at June 30, 2019 and December 31, 2018, are as follows:

	June 30,			December 31,
	2019			2018
Deferred tax assets:
Allowance for loan losses	$	7,853		$	7,539
Operating lease liability	10,090			—
Amortization of core deposit intangible	1,197			1,012
Deferred compensation	4,851			5,878
Unrealized loss on available-for-sale debt securities	100			3,299
Other	2,011			1,998
Subtotal	26,102			19,726
Deferred tax liabilities:
FHLB stock dividends	(550		)	(550		)
Operating lease - right of use asset	(9,806		)	—
Depreciation	(4,615		)	(4,812		)
Cash flow hedges	(2,252		)	(736		)
Mortgage servicing rights	(17,296		)	(23,146		)
Other	(8,474		)	(7,145		)
Subtotal	(42,993		)	(36,389		)
Net deferred tax liability	$	(16,891	)	$	(16,663	)