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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of components of income tax expense/benefit
The following table presents the components of income tax expense (benefit) for the years ended December 31, 2021, 2020 and 2019:
($ in thousands)Year Ended December 31,
202120202019
Current income tax expense (benefit):
Federal$84,249 $84,560 $107,393 
State95,939 74,252 86,578 
Foreign(1,554)671 (2,485)
Total current income tax expense178,634 159,483 191,486 
Deferred income tax expense (benefit):
Federal1,528 (28,093)(8,801)
State3,259 (11,671)(16,390)
Foreign(25)(1,751)3,587 
Total deferred income tax expense (benefit)4,762 (41,515)(21,604)
Income tax expense$183,396 $117,968 $169,882 
Schedule of reconciliation of the federal statutory rate to the effective tax rate
The following table presents the reconciliation of the federal statutory rate to the Company’s effective tax rate for the years ended December 31, 2021, 2020 and 2019:
Year Ended December 31,
202120202019
Statutory U.S. federal tax rate21.0 %21.0 %21.0 %
U.S. state income taxes, net of U.S. federal income tax effect7.4 7.2 7.1 
Tax credits and benefits, net of related expenses
(11.3)(12.4)(6.8)
Other, net0.3 1.4 (1.2)
Effective tax rate17.4 %17.2 %20.1 %
Schedule of temporary differences that give rise to a significant portion of deferred tax assets and liabilities
The following table summarizes the tax effects of temporary differences that give rise to a significant portion of deferred tax assets and liabilities as of December 31, 2021 and 2020:
($ in thousands)December 31,
20212020
Deferred tax assets:
Allowance for loan losses
$166,398 $192,534 
Investments in qualified affordable housing partnerships, tax credit and other investments, net14,977 11,174 
Deferred compensation23,954 23,604 
Interest income on nonaccrual loans4,192 5,909 
State taxes5,237 273 
Unrealized losses on securities37,423 — 
Tax credit carryforwards8,692 — 
Premises and equipment1,434 2,096 
Lease liabilities31,324 30,554 
Other1,018 1,441 
Total deferred tax assets$294,649 $267,585 
Deferred tax liabilities:
Equipment lease financing$26,607 $29,990 
Investments in qualified affordable housing partnerships, tax credit and other investments, net
12,187 14,912 
Core deposit intangibles1,119 1,934 
FHLB stock dividends1,886 1,855 
Mortgage servicing assets1,759 1,675 
Acquired debts1,536 1,597 
Prepaid expenses1,525 1,194 
Premises and equipment— 99 
Unrealized gains on securities— 21,593 
Operating lease right-of-use assets29,472 28,468 
Other428 453 
Total deferred tax liabilities$76,519 $103,770 
Net deferred tax assets$218,130 $163,815 
Schedule of reconciliation of the beginning and ending amounts of unrecognized tax benefits
The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years ended December 31, 2021, 2020 and 2019:
($ in thousands)Year Ended December 31,
202120202019
Beginning balance$5,045 $ $4,378 
Additions for tax positions related to prior years— 5,045 30,103 
Deductions for tax positions related to prior years— — (34,481)
Ending balance$5,045 $5,045 $