Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended December 31,
	2019		2018		2017
	(In thousands)
Current:
Federal	$	20,943	$	26,820	$	59,433
State		39,466		36,639		28,278
Total Current	$	60,409	$	63,459	$	87,711
Deferred:
Federal	$	7,464	$	1,495	$	31,818
State		2,361		848		2,736
Total Deferred	$	9,825	$	2,343	$	34,554
Total income tax expense	$	70,234	$	65,802	$	122,265

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	As of December 31,
	2019			2018
	(In thousands)
Deferred Tax Assets
Loan loss allowance, due to differences in computation of bad debts	$	38,936		$	37,567
Share-based compensation		2,945			3,260
Non-accrual interest		1,005			2,277
Write-down on equity securities and venture capital investments		2,010			2,095
Depreciation and amortization		—			3,798
State tax		4,540			4,344
Unrealized loss on interest rate swaps		1,599			190
Unrealized loss on securities available-for-sale, net		—			3,864
Unrealized loss on equity securities		—			843
Tax credits carried forward		9,473			9,473
Net operating loss carried forward		14,247			17,098
Other, net		5,012			4,782
Gross deferred tax assets		79,767			89,591
Deferred Tax Liabilities
Deferred loan costs		(9,778	)		(8,839	)
Depreciation and amortization		(1,606	)		—
Unrealized gain on securities available-for-sale, net		(5,990	)		—
Unrealized gain on equity securities		(668	)		—
Dividends on Federal Home Loan Bank common stock		(978	)		(956	)
Other, net		(3,307	)		(4,008	)
Gross deferred tax liabilities		(22,327	)		(13,803	)
Net deferred tax assets	$	57,440		$	75,788

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31,
	2019					2018					2017
	(Dollars in thousands)
Tax provision at Federal statutory rate	$	73,368		21.0	%	$	70,914		21.0	%	$	104,407		35.0	%
State income taxes, net of Federal income tax benefit		33,276		9.5			29,750		8.8			20,616		6.9
Deferred taxes write-down due to Tax Cuts and Jobs Act		—		—			—		—			23,365		7.8
Excess deduction for stock option and RSUs		(398	)	(0.1	)		(555	)	(0.2	)		(3,146	)	(1.0	)
Non-taxable bargain purchase gain		—		—			(71	)	—			(1,970	)	(0.7	)
Low income housing and other tax credits		(37,519	)	(10.7	)		(34,517	)	(10.2	)		(20,656	)	(6.9	)
Other, net		1,507		0.4			281		0.1			(351	)	(0.1	)
Total income tax expense	$	70,234		20.1	%	$	65,802		19.5	%	$	122,265		41.0	%