Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of components of income taxes

Income taxes for the years ended December 31 consisted of the following:

	2017		2016		2015
	(dollars in thousands)
Current income tax provision:
Federal	$	18,644	$	16,928	$	12,460
State	7,062		4,655		4,144
Total current income tax provision	25,706		21,583		16,604
Deferred income tax provision (benefit):
Federal	8,294		2,379		(887		)
Effect of Tax Act	5,633		—		—
State	2,493		1,253		(508		)
Total deferred income tax provision (benefit)	16,420		3,632		(1,395		)
Total income tax provision	$	42,126	$	25,215	$	15,209

Schedule of reconciliation from statutory federal income taxes to the Company's effective income taxes

A reconciliation from statutory federal income taxes, that are based on a statutory rate of 35%, to the Company's effective income taxes for the years ended December 31 is as follows:

	2017			2016			2015
	(dollars in thousands)
Statutory federal income tax provision	$	35,778		$	22,863		$	14,253
State taxes, net of federal income tax effect	6,720			4,135			2,886
Cash surrender life insurance	(645		)	(407		)	(483		)
Tax exempt interest	(1,660		)	(764		)	(742		)
Merger costs	824			533			447
LIHTC investments	(1,031		)	(909		)	(871		)
Effect of the Tax Act	5,633			—			—
Excess tax benefit of stock-based compensation	(1,995		)	—			—
Prior year true-up	(1,108		)	—			—
Other	(390		)	(236		)	(281		)
Total income tax provision	$	42,126		$	25,215		$	15,209

Schedule of deferred tax assets (liabilities) comprised of the temporary differences between the financial statement carrying amounts and the tax basis of assets

Deferred tax assets (liabilities) were comprised of the following temporary differences between the financial statement carrying amounts and the tax basis of assets at December 31:

	2017			2016			2015
	(dollars in thousands)
Deferred tax assets:
Accrued expenses	$	2,463		$	2,839		$	1,717
Net operating loss	4,834			3,977			5,192
Allowance for loan losses, net of bad debt charge-offs	8,400			8,061			6,252
Deferred compensation	3,074			2,348			2,547
State taxes	1,500			1,879			1,451
Depreciation	—			1,090			651
Loan discount	8,642			3,477			—
Stock-based compensation	1,914			1,108			639
Unrealized loss on available for sale securities	—			1,939			—
Capital loss carryover	380			—			—
AMT credit	107			—			—
Total deferred tax assets	31,314			26,718			18,449
Deferred tax liabilities:
Deferred FDIC gain	(524		)	(1,675		)	(1,656		)
Core deposit intangibles	(11,691		)	(3,331		)	(2,266		)
Loan origination costs	(3,368		)	(4,208		)	—
Depreciation	(699		)	—			—
Unrealized loss on available for sale securities	(188		)	—			(231		)
Other	(1,199		)	(697		)	(2,785		)
Total deferred tax liabilities	(17,669		)	(9,911		)	(6,938		)
Valuation allowance	(380		)	—			—
Net deferred tax asset	$	13,265		$	16,807		$	11,511

Reconciliation of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2017 and 2016 is as follows:

	2017		2016
	(dollars in thousands)
Balance at January 1,	$	—	$	—
Additions based on tax positions related to prior years	2,906		—
Balance at December 31,	$	2,906	$	—