Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes is as follows:

	Year Ended December 31
	2016		2015		2014
			(In thousands)
Current
Federal	$	653	$	578	$	310
State		30		61		12

Deferred
Federal		12,163		10,818		3,440
State		2,043		2,070		782
	$	14,889	$	13,527	$	4,544

Schedule of Effective Income Tax Rate Reconciliation

The difference between the total expected tax benefit (computed by applying the U.S. Federal tax rate of 35% to pretax income in 2016, 2015 and 2014) and the reported income tax provision relating to income before income taxes is as follows:

	Year Ended December 31
	2016		2015		2014
			(In thousands)
Tax rate applied to income (loss) before income taxes	$	15,431	$	12,484	$	3,583
Increase (decrease) resulting from the effects of:
Nondeductible acquisition costs		217		441		554
Tax exempt interest on loans, obligations of states and political subdivisions and bank owned life insurance		(1,215)		(761)		(293)
State income taxes		(726)		(746)		(278)
Nontaxable bargain purchase gain		0		(146)		0
Tax credit investments		(55)		0		0
Stock compensation		(731)		127		92
Other		(105)		(3)		92
Federal tax provision		12,816		11,396		3,750
State tax provision		2,073		2,131		794
Total income tax provision	$	14,889	$	13,527	$	4,544

Schedule of Deferred Tax Assets and Liabilities

The net deferred tax assets (liabilities) are comprised of the following:

	December 31
	2016		2015
	(In thousands)
Allowance for loan losses	$	9,477	$	7,759
Premises and equipment		2,334		898
Other real estate owned		841		1,737
Accrued stock compensation		1,561		1,235
Federal tax loss carryforward		28,089		33,507
State tax loss carryforward		6,123		6,593
Alternative minimum tax carryforward		4,261		3,355
Net unrealized securities losses		4,616		3,906
Deferred compensation		3,279		1,829
Accrued interest and fee income		3,267		2,404
Other		3,748		3,185
Gross deferred tax assets		67,596		66,408
Less: Valuation allowance		0		0
Deferred tax assets net of valuation allowance		67,596		66,408

Deposit base intangible		(3,953)		(3,452)
Other		(2,825)		(2,682)
Gross deferred tax liabilities		(6,778)		(6,134)
Net deferred tax assets	$	60,818	$	60,274

Summary of Income Tax Examinations

The following are the major tax jurisdictions in which the Company operates and the earliest tax year subject to examination:

Jurisdiction			Tax Year
United States of America			2013
Florida			2013