Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes

Schedule of provision for income taxes

	Year Ended December 31,
(Dollars in thousands)	2016		2015		2014
Current:
Federal	$	37,187	$	41,527	$	8,577
State		3,325		2,327		1,609
Total current tax expense		40,512		43,854		10,186
Deferred:
Federal		11,684		6,344		26,156
State		564		704		(351)
Total deferred tax expense		12,248		7,048		25,805
Provision for income taxes	$	52,760	$	50,902	$	35,991

Analysis of difference between the provision for income taxes and taxes computed by applying the federal statutory income tax rate to income before provision for income taxes

	Year Ended December 31,
(Dollars in thousands)	2016		2015		2014
Income taxes at federal statutory rate	$	53,915	$	52,631	$	39,000
Increase (reduction) of taxes resulting from:
State income taxes, net of federal tax benefit		2,527		1,970		818
Non-deductible merger expenses		686		—		—
Tax-exempt interest		(1,956)		(1,842)		(1,778)
Income tax credits		(2,068)		(1,781)		(1,257)
Dividends received deduction		(12)		(8)		(5)
Other, net		(332)		(68)		(787)
	$	52,760	$	50,902	$	35,991

Schedule of components of the net deferred tax asset

	December 31,
(Dollars in thousands)	2016		2015
Allowance for loan losses	$	14,913	$	13,680
Other-than-temporary impairment on securities		295		295
Share-based compensation		3,915		1,224
Pension plan and post-retirement benefits		1,450		1,449
Deferred compensation		3,155		2,832
Purchase accounting adjustments		34,499		45,066
Other real estate owned		962		1,468
Tax deductible goodwill		682		1,361
Net operating loss carryforwards		14,645		15,757
Cash flow hedge		190		274
Unrealized losses on investment securities available for sale		1,053		—
Other		688		563
Total deferred tax assets		76,447		83,969
Gain on FDIC assisted transaction deferred for tax purposes		3,540		4,493
Unrealized gains on investment securities available for sale		—		1,595
Depreciation		7,510		6,589
Intangible assets		11,239		13,328
Deferred loan fees		7,911		5,404
Prepaid expense		523		524
Mortgage servicing rights		10,380		9,375
Other		2,219		3,098
Total deferred tax liabilities		43,322		44,406
Net deferred tax assets before valuation allowance		33,125		39,563
Less, valuation allowance		(2,002)		(1,736)
Net deferred tax assets	$	31,123	$	37,827