Table:
Years Ended December 31,	2019	2018	2017

Statutory federal income tax rate	21.0%	21.0%	35.0%

State and local income tax rate, net of federal tax benefits	3.7	3.7	1.6

Preferred stock disposition	(9.9)	—	—

Affordable housing credit	(0.4)	(0.6)	(0.6)

Employee benefits including ESOP dividend	(0.3)	(0.3)	(0.5)

Impact of tax reform re-measurement	—	—	(81.6)

Internal restructure	—	(9.1)	(0.6)

Noncontrolling interests	(0.5)	(0.5)	(0.6)

Non-deductible goodwill	0.1	4.7	1.0

Other, net	(0.7)	(0.6)	(2.0)

Effective income tax rate	13.0%	18.3%	(48.3)%

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| Years Ended December 31, | 2019 | 2018 | 2017 |
| --- | --- | --- | --- |
| Statutory federal income tax rate | 21.0% | 21.0% | 35.0% |
| State and local income tax rate, net of federal tax benefits | 3.7 | 3.7 | 1.6 |
| Preferred stock disposition | (9.9) | — | — |
| Affordable housing credit | (0.4) | (0.6) | (0.6) |
| Employee benefits including ESOP dividend | (0.3) | (0.3) | (0.5) |
| Impact of tax reform re-measurement | — | — | (81.6) |
| Internal restructure | — | (9.1) | (0.6) |
| Noncontrolling interests | (0.5) | (0.5) | (0.6) |
| Non-deductible goodwill | 0.1 | 4.7 | 1.0 |
| Other, net | (0.7) | (0.6) | (2.0) |
| Effective income tax rate | 13.0% | 18.3% | (48.3)% |