INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

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,
	2015		2014		2013
	(Dollars in Thousands)
Current – federal	$	15,215	$	10,499	$	5,237
Current - state		1,026		467		505
Deferred - federal		(344)		6,516		3,543
	$	15,897	$	17,482	$	9,285

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,
	2015		2014		2013
	(Dollars in Thousands)
Tax at federal income tax rate	$	19,860	$	19,672	$	10,256
Change resulting from:
Tax-exempt interest		(2,490)		(1,647)		(841)
Increase in cash value of bank owned life insurance		(484)		(568)		(446)
State income tax, net of federal benefit		667		304		328
Other		(1,656)		(279)		(12)
Provision for income taxes	$	15,897	$	17,482	$	9,285

Components of Deferred Income Taxes

The components of deferred income taxes are as follows:

	December 31,
	2015		2014
	(Dollars in Thousands)
Deferred tax assets:
Allowance for loan losses	$	7,372	$	7,405
Deferred compensation		1,202		787
Deferred gain on interest rate swap		381		477
Unrealized loss on interest rate swap		504		460
Nonaccrual interest		49		153
Purchase accounting adjustments		10,825		13,241
Goodwill and intangible assets		9,357		9,565
Other real estate owned		8,597		8,982
Net operating loss tax carryforward		11,179		12,146
Capitalized costs, accrued expenses and other		200		1,469
		49,666		54,685
Deferred tax liabilities:
Depreciation and amortization		5,591		4,821
Mortgage servicing rights		715		539
Subordinated debentures		7,732		7,159
FDIC-assisted transaction adjustments		14,446		21,372
Unrealized gain on securities available for sale		1,723		3,010
		30,207		36,901
Net deferred tax asset	$	19,459	$	17,784