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INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets and liabilities consist of the following components as of December 31, 2019 and 2018 (dollars in thousands):

    

2019

    

2018

Deferred tax assets:

 

  

 

  

Loan losses

$

18,938

$

19,369

Benefit plans

 

3,507

 

3,925

Acquisition accounting

 

16,021

 

11,788

Lease right-of-use asset

13,507

Stock grants

 

2,032

 

894

OREO

 

3,295

 

2,515

Securities available for sale

 

1,169

 

1,577

Net operating losses

 

55,023

 

66,037

Nonaccrual loans

 

3,243

 

3,990

Other

 

4,227

 

4,618

Total deferred tax assets

$

120,962

$

114,713

Deferred tax liabilities:

 

  

 

  

Acquisition accounting

$

19,815

$

13,053

Lease right-of-use liability

11,191

Premises and equipment

 

6,696

 

3,877

Securities available for sale

 

10,069

 

25

Other

 

511

 

583

Total deferred tax liabilities

 

48,282

 

17,538

Net deferred tax asset

$

72,680

$

97,175

Provision for Income Taxes Charged to Operations

The provision for income taxes charged to continuing operations for the years ended December 31, 2019, 2018, and 2017 consists of the following (dollars in thousands):

    

2019

    

2018

    

2017

Current tax expense

$

22,500

$

12,114

$

27,255

Deferred tax expense (1)

 

15,057

 

17,902

 

5,535

Income tax expense

$

37,557

$

30,016

$

32,790

(1)The deferred tax expense for the year ended December 31, 2017 includes the impact of the Tax Act.
Schedule of Income Tax Expense, Difference in Income Tax Rate to Pretax Income

The income tax expense differs from the amount of income tax determined by applying the U.S. federal income tax rate to pre-tax income for the years ended December 31, 2019, 2018, and 2017, due to the following (dollars in thousands):

    

2019

    

2018

    

2017

Computed "expected" tax expense

$

48,564

$

37,680

$

36,738

(Decrease) in taxes resulting from:

 

  

 

  

 

  

Tax-exempt interest income, net

 

(8,259)

 

(5,188)

 

(6,112)

Valuation allowance adjustment

 

 

 

(2,982)

Impact of the Tax Act

 

 

 

6,105

State income tax benefit

(1,078)

(1,133)

Other, net

 

(1,670)

 

(1,343)

 

(959)

Income tax expense

$

37,557

$

30,016

$

32,790