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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Components of Income Tax Expense
(Dollar amounts in thousands)
 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
Current income tax expense (benefit):
 
 
 
 
 
 
Federal
 
$
46,748

 
$
18,524

 
$
16,343

State
 
790

 
2,326

 
(1,388
)
Total
 
47,538

 
20,850

 
14,955

Deferred income tax (benefit) expense:
 
 
 
 
 
 
Federal
 
(7,786
)
 
12,048

 
7,901

State
 
6,419

 
4,849

 
8,314

Total
 
(1,367
)
 
16,897

 
16,215

Total income tax expense
 
$
46,171

 
$
37,747

 
$
31,170

Schedule of Effective Income Tax Rate Reconciliation
Components of Effective Tax Rate
(Dollar amounts in thousands)
 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
 
 
Amount
 
% of Pretax Income
 
Amount
 
% of Pretax Income
 
Amount
 
% of Pretax Income
Statutory federal income tax
 
$
48,482

 
35.0
 %
 
$
41,934

 
35.0
 %
 
$
35,167

 
35.0
 %
(Decrease) increase in income taxes resulting from:
 
 
 
 
 
 
 
 
 
 
 
 
  Tax-exempt income, net of interest
    expense disallowance
 
(5,439
)
 
(3.9
)
 
(6,752
)
 
(5.6
)
 
(7,520
)
 
(7.5
)
  State income tax, net of federal income tax effect
 
4,323

 
3.1

 
4,665

 
3.9

 
4,503

 
4.5

  Other
 
(1,195
)
 
(0.9
)
 
(2,100
)
 
(1.8
)
 
(980
)
 
(1.0
)
Total
 
$
46,171

 
33.3
 %
 
$
37,747

 
31.5
 %
 
$
31,170

 
31.0
 %
Schedule of Deferred Tax Assets and Liabilities
Deferred Tax Assets and Liabilities
(Dollar amounts in thousands)
 
 
As of December 31,
 
 
2016
 
2015
Deferred tax assets:
 
 
 
 
Allowance for credit losses
 
$
30,399

 
$
26,131

Deferred gain on sale-leaseback transaction
 
28,133

 

Unrealized losses on securities
 
18,320

 
18,328

Non-equity based compensation
 
6,060

 
3,739

Equity based compensation
 
5,228

 
5,469

OREO
 
4,336

 
2,597

Federal and state net operating loss ("NOL") carryforwards
 
388

 
7,679

Alternative minimum tax ("AMT") and other credit carryforwards
 
90

 
17,739

Property valuation adjustments
 

 
3,003

Other
 
10,997

 
8,375

Total deferred tax assets
 
103,951

 
93,060

Deferred tax liabilities:
 
 
 
 
Acquisition adjustments
 
(13,407
)
 
(9,371
)
Accrued retirement benefits
 
(6,281
)
 
(6,065
)
Deferred loan fees and costs
 
(3,172
)
 
(2,432
)
Cancellation of indebtedness income
 
(2,136
)
 
(3,204
)
Other
 
(6,442
)
 
(5,039
)
Total deferred tax liabilities
 
(31,438
)
 
(26,111
)
Deferred tax valuation allowance
 

 

Net deferred tax assets
 
72,513

 
66,949

Tax effect of adjustments related to other comprehensive (loss) income
 
27,694

 
19,744

Net deferred tax assets including adjustments
 
$
100,207

 
$
86,693

NOL carryforwards available to offset future taxable income:
 
 
 
 
Federal gross NOL carryforwards, begin to expire in 2035
 
$
574

 
$
922

Illinois gross NOL carryforwards, begin to expire in 2027
 
26,342

 
160,016

Indiana gross NOL carryforwards, begin to expire in 2023
 
1,003

 
11,796

AMT credits
 

 
17,739


Summary of Income Tax Contingencies
Rollforward of Unrecognized Tax Benefits
(Dollar amounts in thousands)
 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
Beginning balance
 
$
1,408

 
$
912

 
$
279

Additions for tax positions relating to the current year
 
640

 
480

 
635

Additions for tax positions relating to prior years
 

 
37

 

Reductions for tax positions relating to prior years
 
(9
)
 
(21
)
 
(2
)
Ending balance
 
$
2,039

 
$
1,408

 
$
912

Interest and penalties not included above (1):
 
 
 
 
 
 
Interest expense, net of tax effect, and penalties
 
$
49

 
$
20

 
$
4

Accrued interest and penalties, net of tax effect, at end of year
 
73

 
24

 
4


(1) 
Included in income tax expense in the Consolidated Statements of Income.