Income Taxes (Tables)

9 Months Ended

Sep. 30, 2016

Income Tax Disclosure [Abstract]

Reconciliation of Effective Tax Rate and Statutory Federal Income Tax Rate

The effective tax rate and the statutory federal income tax rate are reconciled for the periods indicated as follows:

	Three months ended September 30,						Nine months ended September 30,
	2016			2015			2016			2015
Federal statutory income tax rate		35.0	%		35.0	%		35.0	%		35.0	%
State income taxes, net of federal tax benefit		6.9			6.5			6.7			6.7
Tax-exempt interest on municipal obligations		(1.7	)		(0.8	)		(1.9	)		(0.6	)
Increase in cash value of insurance policies		(1.2	)		(1.3	)		(1.6	)		(1.4	)
Low income housing tax credits		(0.3	)		—			(0.3	)		—
Other		—			0.4			0.1			0.2
Effective Tax Rate		38.7	%		39.8	%		38.0	%		39.9	%