Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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,
	2022			2021		2020
Current
Federal	$	15,377		$	5,815	$	40,118
State		3,283			2,118		9,439
Deferred
Federal		(13,440	)		16,092		(15,840	)
State		(3,360	)		4,023		(3,960	)
Income tax provision	$	1,860		$	28,048	$	29,757

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,
	2022			2021			2020
Income tax computed at statutory tax rate	$	15,487		$	36,837		$	39,854
Tax exempt interest		(4,419	)		(3,935	)		(4,284	)
Nondeductible interest expense		271			106			247
State income taxes, net		2,596			1,673			7,457
Income tax credits, net		(10,071	)		(10,479	)		(9,375	)
Death benefit gains		(287	)		(175	)		(91	)
Other		(1,717	)		4,021			(4,051	)
Income tax provision	$	1,860		$	28,048		$	29,757

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, 2022 and 2021, which are included in other assets on the accompanying consolidated balance sheets ($ in thousands):

	December 31,
	2022		2021
Deferred tax assets:
Litigation losses	$	25,187	$	—
Other real estate		70		1,182
Accumulated credit losses		39,370		33,895
Deferred compensation		17,695		18,804
Finance and operating lease liabilities		10,997		10,733
Realized built-in losses		9,180		9,930
Securities		84,813		5,924
Pension and other postretirement benefit plans		1,931		4,929
Interest on nonaccrual loans		1,159		1,235
LHFS		205		591
Stock-based compensation		2,647		2,771
Loan fees		—		125
Derivatives		5,056		—
Other		10,038		9,705
Gross deferred tax asset		208,348		99,824
Deferred tax liabilities:
Goodwill and other identifiable intangibles		14,378		14,667
Premises and equipment		15,978		16,470
Finance and operating lease right-of-use assets		10,209		10,155
MSR		24,452		13,007
Securities		2,069		1,686
Other		2,876		3,081
Gross deferred tax liability		69,962		59,066
Net deferred tax asset	$	138,386	$	40,758

Changes in Unrecognized Tax Benefits

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

	December 31,
	2022			2021			2020
Balance at beginning of period	$	2,129		$	1,781		$	1,524
Change due to tax positions taken during the current year		653			412			353
Change due to tax positions taken during a prior year		(266	)		107			79
Change due to the lapse of applicable statute of limitations during the    current year		(200	)		(171	)		(175	)
Balance at end of period	$	2,316		$	2,129		$	1,781
Accrued interest, net of federal benefit	$	489		$	419		$	330
Unrecognized tax benefits that would impact the effective    tax rate, if recognized	$	1,948		$	1,766		$	1,420