Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Tax Provision

The income tax provision included in the consolidated statements of income was as follows for the periods presented ($ in thousands):

	Years Ended December 31,
	2021		2020			2019
Current
Federal	$	5,815	$	40,118		$	20,068
State		2,118		9,439			7,145
Deferred
Federal		16,092		(15,840	)		(3,104	)
State		4,023		(3,960	)		(776	)
Income tax provision	$	28,048	$	29,757		$	23,333

Income Tax Reconciliation

For the periods presented, the income tax provision differs from the amount computed by applying the statutory federal income tax rate in effect for each respective period to income before income taxes as a result of the following ($ in thousands):

	Years Ended December 31,
	2021			2020			2019
Income tax computed at statutory tax rate	$	36,837		$	39,854		$	36,497
Tax exempt interest		(3,935	)		(4,284	)		(4,951	)
Nondeductible interest expense		106			247			564
State income taxes, net		1,673			7,457			5,645
Income tax credits, net		(10,479	)		(9,375	)		(13,473	)
Death benefit gains		(175	)		(91	)		(123	)
Other		4,021			(4,051	)		(826	)
Income tax provision	$	28,048		$	29,757		$	23,333

Deferred Tax Assets and Liabilities

Temporary differences between the financial statement carrying amounts and the tax basis of assets and liabilities gave rise to the following net deferred tax assets at December 31, 2021 and 2020, which are included in other assets on the accompanying consolidated balance sheets ($ in thousands):

	December 31,
	2021		2020
Deferred tax assets:
Loan purchase accounting	$	—	$	293
Other real estate		1,182		2,049
Accumulated credit losses		33,895		39,073
Deferred compensation		18,804		17,465
Finance and operating lease liabilities		10,733		10,024
Realized built-in losses		9,930		10,681
Securities		5,924		2,233
Pension and other postretirement benefit plans		4,929		6,128
Interest on nonaccrual loans		1,235		1,034
LHFS		591		2,754
Stock-based compensation		2,771		2,749
Loan fees		125		3,401
Other		9,705		10,294
Gross deferred tax asset		99,824		108,178
Deferred tax liabilities:
Goodwill and other identifiable intangibles		14,667		15,136
Premises and equipment		16,470		11,479
Finance and operating lease right-of-use assets		10,155		9,593
MSR		13,007		7,108
Securities		1,686		9,712
Other		3,081		4,537
Gross deferred tax liability		59,066		57,565
Net deferred tax asset	$	40,758	$	50,613

Changes in Unrecognized Tax Benefits

The following table provides a summary of the changes during the 2021 calendar year in the amount of unrecognized tax benefits that are included in other liabilities in the consolidated balance sheet ($ in thousands):

	December 31,
	2021			2020			2019
Balance at beginning of period	$	1,781		$	1,524		$	1,249
Change due to tax positions taken during the current year		412			353			279
Change due to tax positions taken during a prior year		107			79			134
Change due to the lapse of applicable statute of limitations during the    current year		(171	)		(175	)		(138	)
Balance at end of period	$	2,129		$	1,781		$	1,524
Accrued interest, net of federal benefit	$	419		$	330		$	271
Unrecognized tax benefits that would impact the effective    tax rate, if recognized	$	1,766		$	1,420		$	1,218