Income Taxes (Tables)

9 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

Schedule of Allocation of Federal and State Income Taxes between Current and Deferred Portions

Allocation of federal and state income taxes between current and deferred portions is as follows:

	For the Three Months Ended
	September 30,
	2018			2017
Current	$	13,367		$	4,328
Deferred		(6,665	)		274
Total	$	6,702		$	4,602
	For the Nine Months Ended
				September 30,
	2018			2017
Current	$	15,562		$	8,375
Deferred		4,416			8,226
Total	$	19,978		$	16,601

Schedule of Differences in Federal Income Tax Expense and State Tax Expense from Statutory Federal and State Rates

Federal income tax expense differs from the statutory federal rates of 21% for the three and nine months ended September 30, 2018 and 35% for the three and nine months ended September 30, 2017 due to the following:

	For the Three Months Ended
									September 30,
	2018					2017
Federal taxes calculated at statutory rate		5,897		21.0	%	$	4,547			35.0	%
Increase (decrease) resulting from:
State taxes, net of federal benefit		1,187		4.2	%		528			4.1	%
Benefit of equity based compensation		(115	)	-0.4	%		(134	)		-1.0	%
Municipal interest income, net of interest disallowance		(213	)	-0.8	%		(351	)		-2.7	%
Bank owned life insurance		(13	)	0.0	%		(22	)		-0.2	%
Other		(41	)	-0.1	%		34			0.2	%
Income tax expense, as reported	$	6,702		23.9	%	$	4,602			35.4	%

	For the Nine Months Ended
									September 30,
	2018					2017
Federal taxes calculated at statutory rate	$	17,467		21.0	%	$	16,086			35.0	%
Increase (decrease) resulting from:
State taxes, net of federal benefit		3,873		4.6	%		1,879			4.1	%
Benefit of equity based compensation		(866	)	-1.0	%		(309	)		-0.7	%
Municipal interest income, net of interest disallowance		(621	)	-0.8	%		(1,093	)		-2.4	%
Bank owned life insurance		(38	)	-0.1	%		(64	)		-0.1	%
Stock offering costs		141		0.2	%		—			0.0	%
Other		22		0.1	%		102			0.2	%
Income tax expense, as reported	$	19,978		24.0	%	$	16,601			36.1	%

Schedule of Net Deferred Tax liability

The components of the net deferred tax liability at September 30, 2018 and December 31, 2017, are as follows:

	September 30,			December 31,
	2018			2017
Deferred tax assets:
Allowance for loan losses	$	7,193		$	6,264
Amortization of core deposit intangible		919			759
Deferred compensation		5,204			6,158
Unrealized loss on available-for-sale debt securities		5,911			988
Other		2,066			3,599
Subtotal		21,293			17,768
Deferred tax liabilities:
FHLB stock dividends		(550	)		(550	)
Depreciation		(4,516	)		(4,115	)
Cash flow hedges		(971	)		—
Mortgage servicing rights		(20,816	)		(19,830	)
Other		(6,763	)		(5,131	)
Subtotal		(33,616	)		(29,626	)
Net deferred tax liability	$	(12,323	)	$	(11,858	)