Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes

Schedule of components of income tax expense (benefit)

(in thousands)	Current			Deferred			Total
2012
Federal	$	60,253		$	9,525		$	69,778
State		26,260			2,784			29,044
Total	$	86,513		$	12,309		$	98,822
2011
Federal	$	80,707		$	(26,635	)	$	54,072
State		31,792			(8,303	)		23,489
Total	$	112,499		$	(34,938	)	$	77,561
2010
Federal	$	12,381		$	20,125		$	32,506
State		(16,425	)		9,974			(6,451	)
Total	$	(4,044	)	$	30,099		$	26,055

Schedule of deferred tax assets and liabilities

	December 31,
(in thousands)	2012		2011
Deferred tax assets:
Allowance for credit losses	$	137,680	$	129,931
Federal and state carryforwards		665		—
Accrued expenses		79,416		68,981
Nonaccrual interest income		20,912		16,766
Basis difference in OREO and loans		—		15,118
Unrealized losses on cash flow hedges		—		607
Share-based compensation		28,993		26,471
Basis difference in investments		12,952		12,179
Other		3,306		3,910
Total gross deferred tax assets		283,924		273,963
Deferred tax liabilities:
Core deposit and other intangibles		11,353		5,268
State income taxes		7,763		6,625
Depreciation		6,371		2,814
Basis difference in OREO and loans		890		—
Deferred loan origination costs		8,483		6,728
Prepaid expenses		3,784		2,760
Unrealized gains on securities available-for-sale		62,225		53,308
Leasing activities		43,176		20,950
Basis difference in FHLB stock		13,331		19,755
Other		2,087		226
Total gross deferred tax liabilities		159,463		118,434
Net deferred tax assets	$	124,461	$	155,529

Schedule of the effective income tax rate reconciliation

	Percent of Pretax Income (Loss)
	2012			2011			2010
Statutory rate		35.0	%		35.0	%		35.0	%
Net state income tax		6.1			6.2			5.9
Tax exempt income		(4.2	)		(4.0	)		(6.3	)
Affordable housing investments		(4.7	)		(5.0	)		(7.2	)
FTB settlement and other adjustments		—			—			(9.5	)
All other, net		(0.1	)		(1.6	)		(1.7	)
Effective tax provision		32.1	%		30.6	%		16.2	%

Schedule of reconciliation of unrecognized tax benefits

	For the year ended December 31,
(in thousands)	2012		2011
Balance, beginning of the year	$	4,279	$	4,164
Additions for tax positions of current year		194		443
Reductions for tax positions of prior years		—		(273	)
Settlements		—		(55	)
Balance, end of the year	$	4,473	$	4,279