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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2011
Income Taxes [Abstract]  
Schedule Of Components Of Income Tax Expense (Benefit)
(in thousands)                   
     Current     Deferred     Total  

YEAR ENDED DECEMBER 31, 2011:

      

Federal

   $ 29,932      $ (40   $ 29,892   

State

     4,810        2,040        6,850   
  

 

 

   

 

 

   

 

 

 
   $ 34,742      $ 2,000      $ 36,742   
  

 

 

   

 

 

   

 

 

 

YEAR ENDED DECEMBER 31, 2010:

      

Federal

   $ (1,714   $ 6,364      $ 4,650   

State

     3,126        (1,971     1,155   
  

 

 

   

 

 

   

 

 

 
   $ 1,412      $ 4,393      $ 5,805   
  

 

 

   

 

 

   

 

 

 

YEAR ENDED DECEMBER 31, 2009:

      

Federal

   $ (24,339   $ (7,471   $ (31,810

State

     1,762        (10,889     (9,127
  

 

 

   

 

 

   

 

 

 
   $ (22,577   $ (18,360   $ (40,937
  

 

 

   

 

 

   

 

 

 
Schedule Of Reconciliation Of Income Taxes
     2011     2010     2009  

Statutory Federal income tax rate

     35.0     35.0     35.0

Goodwill impairment

     —          —          -20.0

State tax, net of Federal income tax

     3.8     2.5     2.9

Tax-exempt income

     -3.7     -13.6     2.2

Tax credits

     -1.5     -5.5     1.0

Other

     -0.6     -1.4     -0.1
  

 

 

   

 

 

   

 

 

 

Effective income tax rate

     33.0     17.0     21.0
  

 

 

   

 

 

   

 

 

 
Components Of The Net Deferred Tax (Liabilities) Assets
(in thousands)             
     2011     2010  

DEFERRED TAX ASSETS:

    

Covered loans

   $ 38,812      $ 49,334   

Allowance for loan and lease losses

     36,221        41,084   

Accrued severance and deferred compensation

     10,976        10,690   

Tax credits

     6,815        13,289   

Non-covered other real estate owned

     6,566        3,741   

Covered other real estate owned

     6,284        8,132   

Non-covered loans

     2,607        3,401   

Discount on trust preferred securities

     2,535        2,753   

Basis differences of stock and securities

     2,335        2,998   

Net operating loss carryforwards

     1,291        8,897   

Other

     9,826        7,719   
  

 

 

   

 

 

 

Total gross deferred tax assets

     124,268        152,038   

DEFERRED TAX LIABILITIES:

    

FDIC indemnification asset

     45,817        73,719   

Unrealized gain on investment securities

     22,713        16,966   

Fair market value adjustment on junior subordinated debentures

     20,099        20,801   

Premises and equipment depreciation

     8,789        5,581   

Mortgage servicing rights

     7,058        5,782   

Deferred loan fees

     4,983        4,297   

Intangibles

     4,928        5,228   

Leased assets

     4,251        4,879   

Other

     6,063        5,136   
  

 

 

   

 

 

 

Total gross deferred tax liabilities

     124,701        142,389   
  

 

 

   

 

 

 

Net deferred tax (liabilities) assets

   $ (433   $ 9,649   
  

 

 

   

 

 

 
Schedule Of Company's Unrecognized Tax Benefits
(in thousands)             
     2011     2010  

Balance, beginning of period

   $ 589      $ 2,263   

Changes based on tax positions related to prior years

     —          (1,674

Reductions for tax positions of prior years

     (39     —     
  

 

 

   

 

 

 

Balance, end of period

   $ 550      $ 589