Federal and State Income Taxes

9 Months Ended

Sep. 30, 2011

Federal and State Income Taxes [Abstract]

Federal and State Income Taxes

(12) Federal and State Income Taxes

The reconciliations of income (loss) attributable to continuing operations at the U.S. federal statutory tax rate to income tax expense are as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2011			2010			2011			2010
Amount:
Federal statutory tax	$	44,963		$	32,628		$	120,062		$	98,507
Tax exempt revenue		(1,395	)		(1,261	)		(4,089	)		(4,054	)
Effect of state income taxes, net of federal benefit		2,593			1,872			7,969			5,590
Utilization of tax credits		(602	)		(864	)		(1,695	)		(3,904	)
Bank-owned life insurance		(950	)		(1,136	)		(2,914	)		(2,878	)
Reduction of tax accrual		(1,764	)		(2,245	)		(1,764	)		(2,245	)
Other, net		161			941			3,546			1,244
Total	$	43,006		$	29,935		$	121,115		$	92,260

	Three Months Ended September 30,						Nine Months Ended September 30,
	2011			2010			2011			2010
Percent of pretax income:
Federal statutory tax		35	%		35	%		35	%		35	%
Tax exempt revenue		(1	)		(1	)		(1	)		(1	)
Effect of state income taxes, net of federal benefit		2			1			2			2
Utilization of tax credits		(1	)		(1	)		–			(1	)
Bank-owned life insurance		(1	)		(1	)		(1	)		(1	)
Reduction of tax accrual		(1	)		(2	)		(1	)		(1	)
Other, net		–			1			1			–
Total		33	%		32	%		35	%		33	%