Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Components of the Company's Income Tax Expense (Benefit)

The components of the Company’s income tax expense (benefit) are as follows:

	Year Ended December 31,
	2015			2014			2013
	(Dollars in thousands)
Current taxes:
Federal	$	32,348		$	28,258		$	23,326
State		4,595			2,709			3,682
Deferred taxes		(1,903	)		(3,683	)		(483	)
Total income taxes	$	35,040		$	27,284		$	26,525

Reconciliation of Tax Expense at the Federal Statutory Tax Rate

A reconciliation of tax expense at the federal statutory tax rate applied to income before taxes is presented in the following table:

	Year Ended December 31,
	2015			2014			2013
	(Dollars in thousands)
Tax expense at the federal statutory tax rate	$	35,424		$	31,910		$	28,295
Increase (decrease) in tax expense from:
Tax-exempt income, net		(663	)		(571	)		(621	)
Modified endowment life contracts		(763	)		(755	)		(812	)
State tax expense, net of federal tax benefit		2,898			1,469			2,303
Federal tax credits		(5,165	)		(6,479	)		(4,132	)
Other, net		3,309			1,710			1,492
Total tax expense	$	35,040		$	27,284		$	26,525

Summary of Net Deferred Tax Asset Reported in Other Assets

The net deferred tax asset consisted of the following and is reported in other assets:

	December 31,
	2015			2014
	(Dollars in thousands)
Provision for loan losses	$	16,110		$	15,814
Write-downs of other real estate owned		1,252			1,297
Deferred compensation		3,108			2,652
Stock-based compensation		3,201			3,190
Investments in partnership interests		3,651			1,966
Other		917			306
Gross deferred tax assets		28,239			25,225
Unrealized net gains on securities		(962	)		(2,644	)
Premium on securities of banks acquired		(563	)		(715	)
Intangibles		(5,575	)		(2,917	)
Basis difference related to tax credits		(2,689	)		(1,977	)
Depreciation		(6,449	)		(5,504	)
Leveraged lease		(1,671	)		(1,964	)
Other		(606	)		(89	)
Gross deferred tax liabilities		(18,515	)		(15,810	)
Net deferred tax asset	$	9,724		$	9,415