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Income Taxes
 6 Months Ended
Jun. 30, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
    
The Corporation records its federal income tax expense using its estimate of the effective income tax rate expected for the full year and applies that rate on a year-to-date basis. The fluctuations in the Corporation's effective federal income tax rate reflect changes each period in the proportion of interest income exempt from federal taxation and other nondeductible expenses relative to pretax income and tax credits.
A reconciliation of expected income tax expense at the federal statutory income tax rate and the amounts recorded in the Consolidated Financial Statements were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
(Dollars in thousands)
Amount
 
Rate
 
Amount
 
Rate
 
Amount
 
Rate
 
Amount
 
Rate
Tax at statutory rate
$
26,268

 
35.0
 %
 
$
12,707

 
35.0
 %
 
$
47,219

 
35.0
 %
 
$
24,384

 
35.0
 %
Changes resulting from:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tax-exempt interest income
(1,832
)
 
(2.4
)
 
(1,139
)
 
(3.1
)
 
(3,589
)
 
(2.7
)
 
(2,278
)
 
(3.3
)
State taxes, net of federal benefit
258

 
0.3

 
—

 
—

 
470

 
0.4

 
—

 
—

Change in valuation allowance
38

 
—

 
—

 
—

 
49

 
—

 
—

 
—

Bank-owned life insurance adjustments
(335
)
 
(0.4
)
 
(287
)
 
(0.8
)
 
(679
)
 
(0.5
)
 
(355
)
 
(0.5
)
Income tax credits, net
(1,102
)
 
(1.5
)
 
(834
)
 
(2.3
)
 
(1,797
)
 
(1.3
)
 
(1,631
)
 
(2.3
)
Tax benefits in excess of compensation costs on share-based payments(1)
(248
)
 
(0.3
)
 
(68
)
 
(0.2
)
 
(6,382
)
 
(4.7
)
 
(411
)
 
(0.6
)
Other, net
(11
)
 
—

 
153

 
0.4

 
2

 
—

 
580

 
0.8

Income tax expense
$
23,036

 
30.7
 %
 
$
10,532

 
29.0
 %
 
$
35,293

 
26.2
 %
 
$
20,289

 
29.1
 %

(1) Represents excess tax benefits resulting from the exercise or settlement of share-based payment transactions.