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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Schedule of deferred tax assets and liabilities | Significant components of the Corporation’s deferred tax assets and liabilities are as follows:
December 31 (In thousands) |  | 2015 |  | 2014
Deferred tax assets: |  |
Allowance for loan losses |  | $ | 19,773 |  |  | $ | 19,023 |
Accumulated other comprehensive loss – Pension Plan |  | 8,266 |  |  | 8,005 |
Accumulated other comprehensive loss – Unrealized losses on securities |  | 157 |  |  | — |
Deferred compensation |  | 3,908 |  |  | 3,820 |
OREO valuation adjustments |  | 2,418 |  |  | 3,984 |
Net deferred loan fees |  | 1,204 |  |  | 933 |
Deferred contract bonus |  | 1,031 |  |  | — |
Other |  | 4,171 |  |  | 4,338 |
Total deferred tax assets |  | $ | 40,928 |  |  | $ | 40,103 |
Deferred tax liabilities: |  |  |  |
Accumulated other comprehensive income – Unrealized gains on securities |  | — |  |  | 677 |
Deferred investment income |  | 10,199 |  |  | 10,199 |
Pension plan |  | 26,205 |  |  | 25,949 |
Mortgage servicing rights |  | 3,153 |  |  | 3,015 |
Partnership adjustments |  | 560 |  |  | 865 |
Other |  | 872 |  |  | 804 |
Total deferred tax liabilities |  | $ | 40,989 |  |  | $ | 41,509 |
Net deferred tax asset (liability) |  | $ | (61 | ) |  | $ | (1,406 | )
Federal and state income taxes | The components of the provision for federal income taxes are shown below:
December 31, (In thousands) |  | 2015 |  | 2014 |  | 2013
Currently payable |  |  |  |  |  |
Federal |  | $ | 32,817 |  |  | $ | 33,931 |  |  | $ | 34,435 |
Deferred |  |  |  |  |  |
Federal |  | (250 | ) |  | 2,528 |  |  | (1,932 | )
Total |  | $ | 32,567 |  |  | $ | 36,459 |  |  | $ | 32,503 |
Schedule of income tax rate reconciliation | The following is a reconciliation of income tax expense to the amount computed at the statutory rate of 35% for the years ended December 31, 2015, 2014 and 2013.
|  | 2015 |  | 2014 |  | 2013
Statutory federal corporate tax rate |  | 35.0 | % |  | 35.0 | % |  | 35.0 | %
Changes in rates resulting from: |  |  |  |  |  |
Tax exempt interest income, net of disallowed interest |  | (0.5 | )% |  | (0.5 | )% |  | (0.8 | )%
Bank owned life insurance |  | (1.8 | )% |  | (1.4 | )% |  | (1.6 | )%
Investments in qualified affordable housing projects, net of tax benefits |  | (1.9 | )% |  | (1.6 | )% |  | (1.7 | )%
Other tax credits |  | (0.9 | )% |  | — | % |  | — | %
KSOP dividend deduction |  | (1.0 | )% |  | (1.0 | )% |  | (1.1 | )%
Other |  | (0.2 | )% |  | (0.2 | )% |  | (0.1 | )%
Effective tax rate |  | 28.7 | % |  | 30.3 | % |  | 29.7 | %
Reconciliation of unrecognized tax benefits | The following is a reconciliation of the beginning and ending amount of unrecognized tax benefits.
(In thousands) |  | 2015 |  | 2014 |  | 2013
January 1 Balance |  | $ | 532 |  |  | $ | 518 |  |  | $ | 517 |
Additions based on tax positions related to the current year |  | 80 |  |  | 76 |  |  | 74 |
Additions for tax positions of prior years |  | 16 |  |  | 14 |  |  | 4 |
Reductions for tax positions of prior years |  | — |  |  | — |  |  | — |
Reductions due to statute of limitations |  | (70 | ) |  | (76 | ) |  | (77 | )
December 31 Balance |  | $ | 558 |  |  | $ | 532 |  |  | $ | 518 |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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