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Federal and State Income Taxes
 9 Months Ended
Sep. 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
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2012
 
2011
 
2012
 
2011
Amount:
 
 
 
 
 
 
 
 
Federal statutory tax
 
$
46,771

 
$
44,963

 
$
145,234

 
$
120,062

Tax exempt revenue
 
(1,398
)
 
(1,395
)
 
(3,996
)
 
(4,089
)
Effect of state income taxes, net of federal benefit
 
3,640

 
2,593

 
10,210

 
7,969

Utilization of tax credits
 
(718
)
 
(602
)
 
(3,282
)
 
(1,695
)
Bank-owned life insurance
 
(931
)
 
(950
)
 
(2,886
)
 
(2,914
)
Reduction of tax accrual
 
(950
)
 
(1,764
)
 
(950
)
 
(1,764
)
Other, net
 
(636
)
 
161

 
117

 
3,546

Total
 
$
45,778

 
$
43,006

 
$
144,447

 
$
121,115



 
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 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

 
2

 
2

 
2

Utilization of tax credits
 
(1
)
 
(1
)
 
(1
)
 
—

Bank-owned life insurance
 
(1
)
 
(1
)
 
(1
)
 
(1
)
Reduction of tax accrual
 
(1
)
 
(1
)
 
—

 
(1
)
Other, net
 
—

 
—

 
1

 
1

Total
 
34
 %
 
33
 %
 
35
 %
 
35
 %


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.