Income Taxes (Tables)

3 Months Ended

Mar. 31, 2018

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 March 31,
	2018			2017
Federal statutory income tax rate		21.0	%		35.0	%
State income taxes, net of federal tax benefit		9.0			6.9
Tax-exempt interest on municipal obligations		(1.1	)		(1.9	)
Increase in cash value of insurance policies		(0.7	)		(1.4	)
Low income housing tax credits		(1.0	)		(0.6	)
Equity compensation		—			(0.5	)
Nondeductible merger expenses		0.4			—
Nondeductible joint beneficiary agreement expense		0.1			0.1
Other		0.4			0.2
Effective Tax Rate		28.1	%		37.8	%