Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes

Schedule of components of income tax expense (benefit)

(in thousands)	Current		Deferred			Total
2013
Federal	$	80,709	$	(10,615	)	$	70,094
State		34,097		(9,572	)		24,525
Total	$	114,806	$	(20,187	)	$	94,619
2012
Federal	$	60,253	$	9,525		$	69,778
State		26,260		2,784			29,044
Total	$	86,513	$	12,309		$	98,822
2011
Federal	$	80,707	$	(26,635	)	$	54,072
State		31,792		(8,303	)		23,489
Total	$	112,499	$	(34,938	)	$	77,561

Schedule of deferred tax assets and liabilities

	December 31,
(in thousands)	2013		2012
Deferred tax assets:
Allowance for credit losses	$	153,037	$	137,680
Federal and state carryforwards		143		665
Accrued expenses		97,269		79,416
Nonaccrual interest income		23,201		20,912
Unrealized losses on securities available-for-sale		11,116		—
Share-based compensation		30,371		28,993
Basis difference in investments		420		12,952
Other		2,410		3,306
Total gross deferred tax assets		317,967		283,924
Deferred tax liabilities:
Core deposit and other intangibles		9,261		11,353
State income taxes		7,855		7,763
Depreciation		3,460		6,371
Basis difference in OREO and loans		5,016		890
Deferred loan origination costs		10,686		8,483
Prepaid expenses		3,863		3,784
Unrealized gains on securities available-for-sale		—		62,225
Leasing activities		48,709		43,176
Basis difference in FHLB stock		9,179		13,331
Other		1,948		2,087
Total gross deferred tax liabilities		99,977		159,463
Net deferred tax assets	$	217,990	$	124,461

Schedule of the effective income tax rate reconciliation

	Percent of Pretax Income (Loss)
	2013			2012			2011
Statutory rate		35.0	%		35.0	%		35.0	%
Net state income tax		6.0			6.1			6.2
Tax exempt income		(4.6	)		(4.2	)		(4.0	)
Affordable housing investments		(4.9	)		(4.7	)		(5.0	)
All other, net		(2.6	)		(0.1	)		(1.6	)
Effective tax provision		28.9	%		32.1	%		30.6	%

Schedule of reconciliation of unrecognized tax benefits

	For the year ended December 31,
(in thousands)	2013			2012
Balance, beginning of the year	$	4,473		$	4,279
Additions for tax positions of current year		2,048			194
Additions for tax positions of prior years		502			—
Settlements		(2,525	)		—
Balance, end of the year	$	4,498		$	4,473