INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020 and 2019 (dollars in thousands):

	2020		2019
Deferred tax assets:
Credit losses	$	48,505	$	18,938
Benefit plans		3,332		3,507
Acquisition accounting		10,038		16,021
Lease right-of-use asset		14,893		13,507
Stock grants		2,305		2,032
OREO		2,971		3,295
Securities available for sale		1,017		1,169
Net operating losses		47,463		55,023
Nonaccrual loans		2,011		3,243
Other		7,287		4,227
Total deferred tax assets	$	139,822	$	120,962
Deferred tax liabilities:
Acquisition accounting	$	16,271	$	19,815
Lease right-of-use liability		12,012		11,191
Premises and equipment		19,066		6,696
Securities available for sale		19,714		10,069
Other		674		511
Total deferred tax liabilities		67,737		48,282
Net deferred tax asset	$	72,085	$	72,680

Provision for Income Taxes Charged to Operations

The provision for income taxes charged to continuing operations for the years ended December 31, 2020, 2019, and 2018 consists of the following (dollars in thousands):

	2020		2019		2018
Current tax expense	$	25,376	$	22,500	$	12,114
Deferred tax expense		2,690		15,057		17,902
Income tax expense	$	28,066	$	37,557	$	30,016

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, 2020, 2019, and 2018, due to the following (dollars in thousands):

	2020		2019		2018
Computed "expected" tax expense	$	39,122	$	48,564	$	37,680
(Decrease) in taxes resulting from:
Tax-exempt interest income, net		(8,844)		(8,259)		(5,188)
State income tax benefit		(310)		(1,078)		(1,133)
Other tax exempt income, net		(1,902)		(1,670)		(1,343)
Income tax expense	$	28,066	$	37,557	$	30,016

Schedule of Income Tax Expense, Difference in Income Tax Rate to Pretax Income

	2020		2019		2018
Current tax expense	$	25,376	$	22,500	$	12,114
Deferred tax expense		2,690		15,057		17,902
Income tax expense	$	28,066	$	37,557	$	30,016