Income Taxes (Tables)

9 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The provision for income taxes is comprised of the following components for the periods indicated below:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2018		2017		2018		2017
Income taxes currently payable	$	5,638	$	11,946	$	31,335	$	30,467
Deferred income taxes	5,264		2,732		7,316		4,962
Provision for income taxes	$	10,902	$	14,678	$	38,651	$	35,429

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their appropriate tax effects, are as follows:

(In thousands)	September 30, 2018			December 31, 2017
Deferred tax assets:
Loans acquired	$	12,092		$	19,885
Allowance for loan losses	12,601			10,773
Valuation of foreclosed assets	2,709			2,852
Tax NOLs from acquisition	6,962			7,821
Deferred compensation payable	2,645			2,433
Accrued equity and other compensation	6,605			5,302
Acquired securities	549			578
Unrealized loss on available-for-sale securities	16,221			6,107
Other	5,890			8,813
Gross deferred tax assets	66,274			64,564
Deferred tax liabilities:
Goodwill and other intangible amortization	(30,645		)	(32,572		)
Accumulated depreciation	(11,778		)	(8,945		)
Other	(2,197		)	(4,413		)
Gross deferred tax liabilities	(44,620		)	(45,930		)
Net deferred tax asset, included in other assets	$	21,654		$	18,634

Reconciliation of Income Tax Expense

A reconciliation of income tax expense at the statutory rate to the Company’s actual income tax expense is shown for the periods indicated below:

	Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands)	2018			2017			2018			2017
Computed at the statutory rate (1)	$	13,880		$	15,235		$	41,731		$	38,313
Increase (decrease) in taxes resulting from:
State income taxes, net of federal tax benefit	986			342			4,073			1,117
Discrete items related to ASU 2016-09	(31		)	5			(2,567		)	(1,372		)
Tax exempt interest income	(833		)	(955		)	(2,292		)	(3,160		)
Tax exempt earnings on BOLI	(186		)	(178		)	(562		)	(616		)
Other differences, net	(2,914		)	229			(1,732		)	1,147
Actual tax provision	$	10,902		$	14,678		$	38,651		$	35,429

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(1)    The statutory rate was 21% for 2018 compared to 35% for 2017.