Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Components of Income Tax Expense (Benefit)

The following table presents the components of income tax provision included in the Consolidated Statements of Income for the years ended December 31:



(in thousands)	Current		Deferred		Total
YEAR ENDED DECEMBER 31, 2015:
Federal	$	22,914	$	81,267	$	104,181
State	1,708		18,699		20,407
	$	24,622	$	99,966	$	124,588
YEAR ENDED DECEMBER 31, 2014:
Federal	$	1,968	$	70,583	$	72,551
State	1,045		9,444		10,489
	$	3,013	$	80,027	$	83,040
YEAR ENDED DECEMBER 31, 2013:
Federal	$	37,960	$	7,722	$	45,682
State	8,187		323		8,510
	$	46,147	$	8,045	$	54,192

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of income taxes computed at the Federal statutory rate to the actual effective rate for the years ended December 31:



	2015		2014		2013
Statutory Federal income tax rate	35.0	%	35.0	%	35.0	%
State tax, net of Federal income tax	4.0	%	3.5	%	4.4	%
Tax-exempt income	(1.8	)%	(2.5	)%	(3.2	)%
Tax credits	(0.1	)%	(0.8	)%	(1.8	)%
Nondeductible merger expenses	—	%	1.2	%	1.0	%
BOLI	(1.1	)%	(1.6	)%	(0.8	)%
Other	(0.1	)%	1.2	%	1.0	%
Effective income tax rate	35.9	%	36.0	%	35.6	%

Schedule of Deferred Tax Assets and Liabilities

The following table reflects the effects of temporary differences that give rise to the components of the net deferred tax assets recorded on the consolidated balance sheets as of December 31:



(in thousands)	2015			2014
DEFERRED TAX ASSETS:
Net operating loss carryforwards	$	137,302		$	197,227
Allowance for loan and lease losses	54,048			41,133
Loan discount	40,068			90,287
Accrued severance and deferred compensation	28,893			28,216
Tax credits	15,778			21,966
Other	32,350			44,493
Total gross deferred tax assets	308,439			423,322

DEFERRED TAX LIABILITIES:
Residential mortgage servicing rights	54,112			48,496
Fair market value adjustment on preferred securities	48,407			50,549
Intangibles	17,417			15,074
Other	49,331			75,395
Total gross deferred tax liabilities	169,267			189,514

Valuation allowance	(1,090		)	(3,366		)

Net deferred tax assets	$	138,082		$	230,442

Schedule Of Reconciliation Of Unrecognized Tax Benefits Of The Company

Detailed below is a reconciliation of the Company's unrecognized tax benefits, gross of any related tax benefits, for the years ended December 31, 2015 and 2014, respectively:



(in thousands)	2015			2014
Balance, beginning of period	$	2,671		$	602
Effectively settled positions	—			(86		)
Changes for tax positions of current year	178			146
Changes for tax positions of prior years/assumed in merger	574			2,009
Lapse of statute of limitations	(535		)	—
Balance, end of period	$	2,888		$	2,671