Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Our income tax provision consists of the following:

	Year ended December 31,
(Dollars in thousands)	2017		2016		2015
Current income taxes:
Federal taxes	$	36,005	$	23,857	$	24,237
State and local taxes	4,342		3,847		3,805
Deferred income taxes:
Federal taxes	17,899		5,135		2,283
State and local taxes	—		235		(52		)
Total	$	58,246	$	33,074	$	30,273

Schedule of Deferred Tax Assets and Liabilities

The following is a summary of the significant components of our deferred tax assets and liabilities as of December 31, 2017 and 2016:

(Dollars in thousands)	2017			2016
Deferred tax assets:
Unrealized losses on available-for-sale securities	$	2,084		$	4,170
Allowance for loan losses	8,526			13,913
Purchase accounting adjustments—loans	3,487			8,339
Reserves and other accruals	9,194			14,010
Provision for legal settlement	2,520			—
Deferred gains	589			1,109
Net operating losses	188			352
Derivatives	757			1,086
Reverse mortgages	606			2,262
Total deferred tax assets	$	27,951		$	45,241
Deferred tax liabilities:
Bad debt recapture	$	—		$	(545	)
Accelerated depreciation	(778		)	(1,049		)
Other	(326		)	(497		)
Bank-owned life insurance	(5,387		)	—
Deferred loan costs	(989		)	(1,079		)
Intangibles	(3,826		)	(5,946		)
Total deferred tax liabilities	(11,306		)	(9,116		)
Net deferred tax asset	$	16,645		$	36,125

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation showing the differences between our effective tax rate and the U.S. Federal statutory tax rate is as follows:

	Year ended December 31,
Year Ended December 31,	2017		2016		2015
Statutory federal income tax rate	35.0	%	35.0	%	35.0	%
State tax, net of federal tax benefit	2.7		3.1		2.9
Adjustment to net deferred tax asset for enacted changes in tax laws and rates	13.4		—		—
Nondeductible acquisition costs	—		0.2		0.7
Tax-exempt interest	(1.9	)	(2.1	)	(1.9	)
Bank-owned life insurance income	(0.5	)	(0.3	)	(0.3	)
Excess tax benefits from share-based compensation	(2.0	)	(1.4	)	—
Surrender of bank-owned life insurance policies	7.3		—		—
Federal tax credits, net of amortization	(0.3	)	(0.5	)	(0.5	)
Other	—		—		0.2
Effective tax rate	53.7	%	34.0	%	36.1	%