Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Components of Income Taxes

The components of income taxes are as follows:

	Years Ended December 31,
	2017		2016			2015
	(in thousands)
Current tax provision	$	10,565	$	22,308		$	16,991
Deferred tax expense (benefit)	16,904		(987		)	(824		)
Total provision for income taxes	$	27,469	$	21,321		$	16,167

Summary of Income Tax Provision Reconciled to Income Taxes that Computed at Statutory Federal Rate

The income tax provision reconciled to the income taxes that would have been computed at the statutory federal rate of 35% is as follows:

	Years Ended December 31,
	2017			2016			2015
	(in thousands)
Federal income tax, at statutory rates	$	28,017		$	21,994		$	17,028
Increase (deduction) in taxes resulting from:
Tax-exempt income	(1,652		)	(1,671		)	(1,467		)
Excise tax on real estate investment trust ("REIT") dividend	1,945			—			—
Adjustment to net deferred tax asset for Tax Cuts and Jobs Act	(1,343		)	—			—
State income tax, net of federal income tax effect	931			552			132
Excess tax benefits from employee share-based payments	(587		)	—			—
Other, net	158			446			474
Provision for income taxes	$	27,469		$	21,321		$	16,167

Summary of Net Deferred Tax Asset

The net deferred tax asset consisted of the following:

	December 31,
	2017		2016
Deferred tax assets:	(in thousands)
Allowance for loan and lease losses	$	10,662	$	13,775
Stock based compensation plans	769		1,095
Purchase accounting fair market value adjustments	1,441		2,752
Non-accrued interest	394		730
Deferred compensation	2,007		2,648
Depreciation and amortization	805		1,486
Other-than-temporary impairment loss on investment securities	77		255
Unrealized losses on securities available for sale	1,108		292
Other, net	675		767
Gross deferred tax assets	17,938		23,800
Deferred tax liabilities:
Core deposit intangible from acquired companies	664		1,366
Undistributed income from subsidiary not consolidated for tax return purposes (REIT)	12,015		924
Deferred loan costs	1,169		1,545
Prepaid expenses	524		641
Deferred gain on securities	116		194
Unfunded pension benefits	7		18
Unrealized gains on hedging derivative	229		361
Other	357		841
Gross deferred tax liabilities	15,081		5,890
Net deferred tax assets	$	2,857	$	17,910