Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes [Abstract]

Income Tax Expense

	Years Ended December 31,
(in thousands)	2018		2017		2016
Included in net income
Current federal	$	7,594	$	38,859	$	43,777
Current state		5,538		4,112		1,689
Total current provision		13,132		42,971		45,466
Deferred federal		41,078		48,653		(6,127)
Deferred state		4,136		1,178		(1,712)
Total deferred provision		45,214		49,831		(7,839)
Total included in net income	$	58,346	$	92,802	$	37,627

Deferred Tax Assets and Liabilities

	December 31,
(in thousands)	2018		2017
Deferred tax assets:
Allowance for loan losses	$	45,198	$	51,517
Employee compensation and benefits		12,796		9,783
Loan purchase accounting adjustments		1,132		6,441
Tax credit carryforward		2,059		21,274
Securities		17,390		12,250
State net operating loss		1,629		1,979
Other		18,431		13,763
Gross deferred tax assets		98,635		117,007
State valuation allowance		(1,629)		(1,979)
Net deferred tax assets		97,006		115,028
Deferred tax liabilities:
Fixed assets & intangibles		(44,277)		(42,597)
Lease financing		(23,605)		(12,285)
Other		(6,157)		(6,167)
Gross deferred tax liabilities		(74,039)		(61,049)
Net deferred tax asset	$	22,967	$	53,979

Effective Income Tax Rate Reconciliation

	Years Ended December 31,
	2018				2017				2016
($ in thousands)	Amount		%		Amount		%		Amount		%
Taxes computed at statutory rate	$	80,244	21.0	%	$	107,952	35.0	%	$	65,423	35.0	%
Increases (decreases) in taxes resulting from:
State income taxes, net of federal income
tax benefit		8,770	2.3			4,288	1.4			2,104	1.1
Tax-exempt interest		(10,803)	(2.8)			(18,870)	(6.1)			(14,497)	(7.8)
Bank owned life insurance		(2,019)	(0.5)			(5,360)	(1.7)			(4,833)	(2.6)
Tax credits		(11,344)	(3.0)			(9,286)	(3.1)			(10,410)	(5.6)
Employee share-based compensation		(1,380)	(0.3)			(5,824)	(1.9)			—	—
FDIC assessment disallowance		2,818	0.7			—	—			—	—
Return to provision adjustment		(9,942)	(2.6)			(120)	—			(549)	(0.3)
Impact of deferred tax asset re-measurement		—	—			19,520	6.3			—	—
Other, net		2,002	0.5			502	0.2			389	0.3
Income tax expense	$	58,346	15.3	%	$	92,802	30.1	%	$	37,627	20.1	%