XML 29 R19.htm IDEA: XBRL DOCUMENT v3.8.0.1
Federal and State Income Taxes Federal and State Income Taxes
 9 Months Ended
Sep. 30, 2017
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
Federal and State Income Taxes

The reconciliations of income 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,
 
 
2017
 
2016
 
2017
 
2016
Amount:
 
 
 
 
 
 
 
 
Federal statutory tax
 
$
44,880

 
$
37,474

 
$
137,048

 
$
93,189

Tax exempt revenue
 
(3,001
)
 
(2,391
)
 
(9,336
)
 
(7,491
)
Effect of state income taxes, net of federal benefit
 
2,486

 
1,364

 
7,875

 
5,222

Utilization of tax credits:
 
 
 
 
 
 
 
 
Low-income housing tax credit, net of amortization
 
(23
)
 
(623
)
 
(2,272
)
 
(2,505
)
Other tax credits
 
(364
)
 
(522
)
 
(1,091
)
 
(1,564
)
Bank-owned life insurance
 
(705
)
 
(813
)
 
(2,252
)
 
(2,414
)
Share-based compensation
 
(169
)
 
—

 
(2,470
)
 
—

Other, net
 
(666
)
 
(2,533
)
 
744

 
(556
)
Total income tax expense
 
$
42,438

 
$
31,956

 
$
128,246

 
$
83,881



 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
2017
 
2016
 
2017
 
2016
Percent of pretax income:
 
 
 
 
 
 
 
 
Federal statutory tax
 
35.0
 %
 
35.0
 %
 
35.0
 %
 
35.0
 %
Tax exempt revenue
 
(2.3
)
 
(2.2
)
 
(2.4
)
 
(2.8
)
Effect of state income taxes, net of federal benefit
 
1.9

 
1.3

 
2.0

 
2.0

Utilization of tax credits:
 
 
 
 
 
 
 
 
Low-income housing tax credit, net of amortization
 
—

 
(0.6
)
 
(0.6
)
 
(0.9
)
Other tax credits
 
(0.3
)
 
(0.5
)
 
(0.3
)
 
(0.6
)
Bank-owned life insurance
 
(0.5
)
 
(0.8
)
 
(0.6
)
 
(0.9
)
Share-based compensation
 
(0.1
)
 
—

 
(0.6
)
 
—

Other, net
 
(0.6
)
 
(2.4
)
 
0.3

 
(0.3
)
Total
 
33.1
 %
 
29.8
 %
 
32.8
 %
 
31.5
 %