INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense in Consolidated Statements of Income

The income tax expense in the consolidated statements of income consists of the following:

	For the Years Ended December 31,
(dollars in thousands)	2022		2021		2020
Current - federal	$	114,346	$	67,076	$	73,705
Current - state	27,889		13,712		12,479
Deferred - federal	(27,408)		30,321		(7,881)
Deferred - state	(8,269)		8,090		(47)
	$	106,558	$	119,199	$	78,256

Schedule of Reconciliation of Differences in Company's Income Tax Expense

The Company’s income tax expense differs from the amounts computed by applying the federal income tax statutory rates to income before income taxes. A reconciliation of the differences is as follows:

	For the Years Ended December 31,
(dollars in thousands)	2022			2021			2020
Federal income statutory rate	21		%	21		%	21		%
Tax at federal income tax rate	$	95,151		$	104,166		$	71,460
Change resulting from:
State income tax, net of federal benefit	13,763			18,923			9,812
Tax-exempt interest	(2,775)			(3,479)			(3,726)
Increase in cash value of bank owned life insurance	(1,399)			(997)			(594)
Excess tax (benefit) deficiency from stock compensation	(510)			(277)			371
Nondeductible merger expenses	167			142			2
Other	2,161			721			2,827
Benefit related to carryback claims resulting from the CARES Act	—			—			(1,896)
Provision for income taxes	$	106,558		$	119,199		$	78,256

Schedule of Components of Deferred Income Taxes

The components of deferred income taxes are as follows:

	December 31,
(dollars in thousands)	2022		2021
Deferred tax assets
Allowance for credit losses	$	64,742	$	50,132
Deferred compensation	13,287		7,816
Deferred loan fees	668		1,593
Purchase accounting adjustments	5,153		14,008
Other real estate owned	201		334
Net operating loss tax carryforward	14,070		35,082
Tax credit carryforwards	149		315
Unrealized loss on securities available for sale	14,635		—
Capitalized costs, accrued expenses and other	3,432		2,208
Lease liability	16,505		16,186
	132,842		127,674
Deferred tax liabilities
Premises and equipment	12,680		13,130
Mortgage servicing rights	30,903		52,076
Subordinated debentures	6,551		6,818
Lease financing	9,442		42,865
Goodwill and intangible assets	24,946		29,393
Unrealized gain on securities available-for-sale	—		4,498
Origination costs	6,239		—
Right of use lease asset	14,280		14,001
	105,041		162,781
Net deferred tax asset (liability)	$	27,801	$	(35,107)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized income tax benefits is as follows.

	For the Years Ended December 31,
(dollars in thousands)	2022		2021
Beginning Balance	$	1,903	$	—
Current Activity:
Additions for tax positions of prior years	2,319		1,903
Additions from acquisitions	1,001		—
Settlements	(4,222)		—
Ending Balance	$	1,001	$	1,903