Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Provision (Benefit)

The income tax provision for the years ended December 31 is as follows:

	2014		2013		2012
	(dollars in thousands)
Current tax provision for income exclusive of securities transactions:
Federal	$	12,661	$	2,509	$	12,035
State	157		68		72
Total current tax provision	12,818		2,577		12,107
Deferred tax provision	4,862		12,704		2,551
Total tax provision	$	17,680	$	15,281	$	14,658

Schedule of Effective Income Tax Rate Reconciliation

The statutory to effective tax rate reconciliation for the years ended December 31 is as follows:

	2014					2013					2012
	Amount			% of Pretax Income		Amount			% of Pretax Income		Amount			% of Pretax Income
	(dollars in thousands)
Tax at statutory rate	$	21,747		35	%	$	19,867		35	%	$	19,814		35	%
Increase (decrease) resulting from:
Income from bank owned life insurance	(1,926		)	(3	)	(1,939		)	(3	)	(2,048		)	(4	)
Tax-exempt interest income, net	(2,133		)	(4	)	(2,600		)	(5	)	(2,789		)	(5	)
Tax credits	(134		)	—		(144		)	—		(267		)	—
Other	126			—		97			—		(52		)	—
Total tax provision	$	17,680		28	%	$	15,281		27	%	$	14,658		26	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities that represent significant portions of the deferred tax assets and liabilities at December 31 are presented below:

	2014			2013
	(dollars in thousands)
Deferred tax assets:
Allowance for credit losses	$	18,218		$	18,979
Postretirement benefits other than pensions	679			726
Alternative minimum tax credit carryforward	8,627			13,896
Litigation reserve	3,000			—
Unrealized loss on securities available for sale	2,463			11,235
Writedown of other real estate owned	603			207
Deferred compensation	2,246			2,118
Accrued interest on nonaccrual loans	1,059			1,481
Other-than-temporary impairment of securities	9,239			9,693
Depreciation of assets	1,127			1,546
Accrued incentives	1,594			1,153
Unfunded loan commitment allowance	1,078			1,106
Deferred rent	969			653
Other	1,354			2,462
Total deferred tax assets	52,256			65,255
Deferred tax liabilities:
Basis difference in assets acquired	(344		)	(518		)
Loan origination fees and costs	(1,337		)	(637		)
Income from unconsolidated subsidiary	(603		)	(590		)
Other	(318		)	(332		)
Total deferred tax liabilities	(2,602		)	(2,077		)
Net deferred tax asset	$	49,654		$	63,178