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Federal and State Income Taxes (Tables)
6 Months Ended
Jun. 30, 2012
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]  
Reconciliation of income (loss) to income tax expense
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
 %