Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Our income tax provision consists of the following:

	Year ended December 31,
(Dollars in thousands)	2018			2017		2016
Current income taxes:
Federal taxes	$	26,164		$	36,005	$	23,857
State and local taxes	6,513			4,342		3,847
Deferred income taxes:
Federal taxes	3,455			17,899		5,135
State and local taxes	(77		)	—		235
Total	$	36,055		$	58,246	$	33,074

Schedule of Deferred Tax Assets and Liabilities

The following is a summary of the significant components of our deferred tax assets and liabilities as of December 31, 2018 and 2017:

(Dollars in thousands)	2018			2017
Deferred tax assets:
Unrealized losses on available-for-sale securities	$	4,350		$	2,084
Allowance for loan losses	8,303			8,526
Purchase accounting adjustments—loans	2,427			3,487
Reserves and other accruals	10,426			9,194
Provision for legal settlement	—			2,520
Deferred gains	458			589
Net operating losses	165			188
Derivatives	775			757
Reverse mortgages	384			606
Total deferred tax assets	$	27,288		$	27,951
Deferred tax liabilities:
Unrealized gains on equity investments	$	(4,203	)	$	—
Accelerated depreciation	(806		)	(778		)
Other	(537		)	(326		)
Bank-owned life insurance	—			(5,387		)
Deferred loan costs	(2,052		)	(989		)
Intangibles	(4,130		)	(3,826		)
Total deferred tax liabilities	(11,728		)	(11,306		)
Net deferred tax asset	$	15,560		$	16,645

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation showing the differences between our effective tax rate and the U.S. Federal statutory tax rate is as follows:

	Year ended December 31,
Year Ended December 31,	2018		2017		2016
Statutory federal income tax rate	21.0	%	35.0	%	35.0	%
State tax, net of federal tax benefit	3.1		2.7		3.1
Adjustment to net deferred tax asset for enacted changes in tax laws and rates	(0.5	)	13.4		—
Nondeductible acquisition costs	0.4		—		0.2
Tax-exempt interest	(0.8	)	(1.9	)	(2.1	)
Bank-owned life insurance income	—		(0.5	)	(0.3	)
Excess tax benefits from share-based compensation	(1.8	)	(2.0	)	(1.4	)
Surrender of bank-owned life insurance policies	—		7.3		—
Federal tax credits, net of amortization	(0.1	)	(0.3	)	(0.5	)
Other	(0.2	)	—		—
Effective tax rate	21.1	%	53.7	%	34.0	%