Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Federal Effective Income Tax Rate Reconciliation

The differences between the provision for federal income taxes computed at the federal statutory income tax rate and the amounts recorded in the consolidated financial statements were as follows:



	Years Ended December 31,
	2013			2012			2011
	(Dollars in thousands)
Tax at statutory rate	$	28,388		$	25,133		$	21,088
Changes resulting from:
Tax-exempt interest income	(2,746		)	(2,524		)	(2,569		)
Income tax credits	(1,615		)	(1,561		)	(1,374		)
Other, net	273			(248		)	55
Provision for federal income taxes	$	24,300		$	20,800		$	17,200
Effective federal income tax rate	30.0		%	29.0		%	28.5		%

Provision for Federal Income Taxes Components

The provision for federal income taxes consisted of the following:



	Years Ended December 31,
	2013		2012		2011
	(In thousands)
Current	$	23,665	$	8,132	$	10,787
Deferred	635		12,668		6,413
Total	$	24,300	$	20,800	$	17,200

Schedule of Deferred Tax Assets and Liabilities

Significant temporary differences that comprise the deferred tax assets and liabilities of the Corporation were as follows:



	December 31,
	2013		2012
	(In thousands)
Deferred tax assets:
Allowance for loan losses	$	27,675	$	29,572
Acquisition-related fair value adjustments	8,699		9,498
Accrued expenses not currently deductible	6,288		4,518
Other	11,663		11,756
Total deferred tax assets	54,325		55,344
Deferred tax liabilities:
Defined benefit pension plan	8,020		—
Goodwill	4,680		4,177
Other	6,140		9,339
Total deferred tax liabilities	18,840		13,516
Net deferred tax assets	$	35,485	$	41,828