Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Federal Effective Income Tax Rate Reconciliation

The differences between the provision for federal income taxes computed at the federal statutory income tax rate and the amounts recorded in the consolidated financial statements were as follows:



	Years Ended December 31,
	2015			2014			2013
	(Dollars in thousands)
Tax at statutory rate	$	43,341		$	31,367		$	28,388
Changes resulting from:
Tax-exempt interest income	(3,918		)	(3,118		)	(2,746		)
Income tax credits, net	(2,557		)	(1,624		)	(1,615		)
Other, net	134			875			273
Provision for federal income taxes	$	37,000		$	27,500		$	24,300
Effective federal income tax rate	29.9		%	30.7		%	30.0		%

Provision for Federal Income Taxes Components

The provision for federal income taxes consisted of the following:



	Years Ended December 31,
	2015		2014			2013
	(In thousands)
Current expense	$	31,300	$	29,200		$	23,665
Deferred expense (benefit)	5,700		(1,700		)	635
Total federal income tax expense	$	37,000	$	27,500		$	24,300

Schedule of Deferred Tax Assets and Liabilities

Significant temporary differences that comprise the deferred tax assets and liabilities of the Corporation were as follows:



	December 31,
	2015		2014
	(In thousands)
Deferred tax assets:
Allowance for loan losses	$	24,863	$	26,489
Acquisition-related fair value adjustments	29,280		19,457
Accrued expenses not currently deductible	9,331		7,819
Net operating loss carryforward	7,130		—
Premises and equipment	4,333		3,311
Nonaccrual loan interest	4,994		4,682
Other	15,296		9,418
Total deferred tax assets	95,227		71,176
Deferred tax liabilities:
Core deposit intangible assets	7,379		5,072
Goodwill	5,808		5,205
Mortgage servicing rights	3,893		4,276
Other	7,957		3,884
Total deferred tax liabilities	25,037		18,437
Net deferred tax assets	$	70,190	$	52,739