Federal and State Income Taxes

6 Months Ended

Jun. 30, 2012

Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]

Federal and State Income Taxes

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						Six Months Ended
	June 30,						June 30,
	2012			2011			2012			2011
Amount:
Federal statutory tax	$	53,414		$	38,868		$	98,463		$	75,100
Tax exempt revenue	(1,334		)	(1,331		)	(2,598		)	(2,694		)
Effect of state income taxes, net of federal benefit	3,572			2,738			6,570			5,376
Utilization of tax credits	(1,467		)	(594		)	(2,564		)	(1,093		)
Bank-owned life insurance	(976		)	(979		)	(1,955		)	(1,964		)
Other, net	(60		)	655			753			3,384
Total	$	53,149		$	39,357		$	98,669		$	78,109

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2012		2011		2012		2011
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	3		3		2		3
Utilization of tax credits	(1	)	(1	)	(1	)	(1	)
Bank-owned life insurance	(1	)	(1	)	(1	)	(1	)
Other, net	—		—		1		1
Total	35	%	35	%	35	%	36	%

During the first quarter of 2012, the Internal Revenue Service completed an audit of the Company's federal income tax return for the year ended December 31, 2008 with no adjustments.