INCOME TAXES

Income tax expense consists of the following:



Year ended December 31,	2015		2014		2013
Current:
Federal	$	26,741	$	34,941	$	30,757
State	4,472		4,928		4,533
Total current	31,213		39,869		35,290
Deferred:
Federal	11,047		4,870		10,056
State	1,402		475		1,220
Total deferred	12,449		5,345		11,276
Total income tax expense	$	43,662	$	45,214	$	46,566

Total income tax expense differs from the amount computed by applying the statutory federal income tax rate of 35 percent in 2015, 2014 and 2013 to income before income taxes as a result of the following:



Year ended December 31,	2015			2014			2013
Tax expense at the statutory tax rate	$	45,660		$	45,365		$	46,446
Increase (decrease) in tax resulting from:
Tax-exempt income	(4,092		)	(4,255		)	(3,620		)
State income tax, net of federal income tax benefit	3,791			3,541			3,741
Federal tax credits	(2,249		)	(313		)	(353		)
Other, net	552			876			352
Tax expense at effective tax rate	$	43,662		$	45,214		$	46,566

The tax effects of temporary differences between the financial statement carrying amounts and tax bases of assets and liabilities that give rise to significant portions of the net deferred tax asset (liability) relate to the following:



December 31,	2015			2014
Deferred tax assets:
Loans, principally due to allowance for loan losses	$	28,999		$	28,506
Lease costs	596			719
Loss contingencies	108			1,785
Loan discount	4,552			7,022
Investment securities, unrealized losses	2,093			2,728
Employee benefits	9,009			8,256
Other real estate owned write-downs and carrying costs	598			2,536
Deferred gain on sale of subsidiary	—			253
Deferred revenue on contract	1,087			481
Other	126			760
Deferred tax assets	47,168			53,046
Deferred tax liabilities:
Fixed assets, principally differences in bases and depreciation	(5,140		)	(569		)
Investment securities, unrealized gains	(2,538		)	(1,351		)
Investment in joint venture partnership, principally due to differences in depreciation of partnership assets	(1,301		)	(1,053		)
Prepaid amounts	(1,139		)	(1,385		)
Government agency stock dividends	(2,442		)	(2,407		)
Goodwill and core deposit intangibles	(39,886		)	(36,732		)
Mortgage servicing rights	(4,422		)	(4,144		)
Other	(65		)	(531		)
Deferred tax liabilities	(56,933		)	(48,172		)
Net deferred tax assets (liabilities)	$	(9,765	)	$	4,874

The Company had a current net income tax payable of $6,275 at December 31, 2015 and $4,693 at December 31, 2014, which are included in accounts payable and accrued expenses.