| Income Tax Disclosure [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Income Tax Disclosure [Abstract] | |
Summary of Income Tax Expense | The following table summarizes income tax expense for the years indicated. | | | | | | | | | | | | | | For the Year Ended December 31, | (In Thousands) | 2016 | | 2015 | | 2014 | Current: | |
| | |
| | |
| Federal | $ | 29,882 |
| | $ | 30,410 |
| | $ | 17,435 |
| State and local | 3,592 |
| | 2,075 |
| | 4,033 |
| Total current | 33,474 |
| | 32,485 |
| | 21,468 |
| Deferred: | |
| | |
| | |
| Federal | 1,330 |
| | 13,573 |
| | 27,452 |
| State and local | 5,924 |
| | (16,259 | ) | | (22,641 | ) | Total deferred | 7,254 |
| | (2,686 | ) | | 4,811 |
| Total income tax expense | $ | 40,728 |
| | $ | 29,799 |
| | $ | 26,279 |
|
|
Reconciliation of Income Tax Expense | The following is a reconciliation of income tax expense computed by applying the federal income tax rate to income before income tax expense to income tax expense included in the consolidated statements of income for the years indicated. | | | | | | | | | | | | | | For the Year Ended December 31, | (In Thousands) | 2016 | | 2015 | | 2014 | Expected income tax expense at statutory federal rate | $ | 39,290 |
| | $ | 41,256 |
| | $ | 42,768 |
| State and local taxes, net of federal tax effect | 6,038 |
| | (9,220 | ) | | (12,096 | ) | Tax exempt income (principally on BOLI) | (3,213 | ) | | (3,107 | ) | | (2,970 | ) | Low income housing tax credit | (916 | ) | | (1,036 | ) | | (1,676 | ) | Other, net | (471 | ) | | 1,906 |
| | 253 |
| Total income tax expense | $ | 40,728 |
| | $ | 29,799 |
| | $ | 26,279 |
|
|
Summary of Tax Effects of Temporary Differences | The following table summarizes the tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at the dates indicated. | | | | | | | | | | At December 31, | (In Thousands) | 2016 | | 2015 | Deferred tax assets: | |
| | |
| Allowances for losses | $ | 36,084 |
| | $ | 41,924 |
| Compensation and benefits (principally pension and other postretirement benefit plans) | 40,759 |
| | 40,072 |
| Mortgage loans (principally deferred loan origination costs) | 2,871 |
| | 2,548 |
| Net unrealized loss on securities available-for-sale | 577 |
| | 194 |
| State and local net operating loss carryforwards | 13,467 |
| | 16,341 |
| Other deductible temporary differences | 4,320 |
| | 4,568 |
| Total gross deferred tax assets | 98,078 |
| | 105,647 |
| Less valuation allowance | — |
| | — |
| Deferred tax assets, net of valuation allowance | 98,078 |
| | 105,647 |
| Deferred tax liabilities: | |
| | |
| Premises and equipment | (3,465 | ) | | (3,665 | ) | MSR | (1,534 | ) | | (438 | ) | Total gross deferred tax liabilities | (4,999 | ) | | (4,103 | ) | Net deferred tax assets (included in other assets) | $ | 93,079 |
| | $ | 101,544 |
|
|
Reconciliation of Beginning and Ending Amounts of Gross Unrecognized Tax Benefits | The following is a reconciliation of the beginning and ending amounts of gross unrecognized tax benefits for the years indicated. The amounts have not been reduced by the federal deferred tax effects of unrecognized state tax benefits. | | | | | | | | | | | | | | For the Year Ended December 31, | (In Thousands) | 2016 | | 2015 | | 2014 | Unrecognized tax benefits at beginning of year | $ | 1,485 |
| | $ | 2,155 |
| | $ | 4,009 |
| Additions as a result of a tax position taken during the current period | 15 |
| | 830 |
| | 675 |
| Reductions relating to settlement with taxing authorities | (88 | ) | | (1,500 | ) | | (2,529 | ) | Unrecognized tax benefits at end of year | $ | 1,412 |
| | $ | 1,485 |
| | $ | 2,155 |
|
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