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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Schedule of income tax allocation | Total income taxes for the years ended December 31, 2017, 2016, and 2015 were allocated as follows:
($ In thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Allocated to net income |  | $ | 21,767 |  |  |  | 14,624 |  |  |  | 14,126 |
Allocated to stockholders’ equity, for unrealized holding gain/loss on debt and equity securities for financial reporting purposes |  |  | 321 |  |  |  | (685 | ) |  |  | (184 | )
Allocated to stockholders’ equity, for tax benefit of pension liabilities |  |  | 668 |  |  |  | (36 | ) |  |  | (1,716 | )
Total income taxes |  | $ | 22,756 |  |  |  | 13,903 |  |  |  | 12,226
Schedule of components of Income tax expense | The components of income tax expense for the years ended December 31, 2017, 2016, and 2015 are as follows:
($ In thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Current - Federal |  | $ | 11,286 |  |  |  | 12,827 |  |  |  | 9,149 |
- State |  |  | 1,996 |  |  |  | 1,679 |  |  |  | 1,436 |
Deferred - Federal |  |  | 7,742 |  |  |  | 16 |  |  |  | 3,205 |
- State |  |  | 743 |  |  |  | 102 |  |  |  | 336 |
Total |  | $ | 21,767 |  |  |  | 14,624 |  |  |  | 14,126
Scheule of deferred tax assets and liabilities | The sources and tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) at December 31, 2017 and 2016 are presented below:
($ In thousands) |  | 2017 |  |  | 2016 |
Deferred tax assets: |  |  |  |  |  |  |  |
Allowance for loan losses |  | $ | 5,448 |  |  |  | 8,758 |
Excess book over tax pension plan cost |  |  | — |  |  |  | 290 |
Deferred compensation |  |  | 1,220 |  |  |  | 36 |
Federal & state net operating loss carryforwards |  |  | 2,125 |  |  |  | 868 |
Accruals, book versus tax |  |  | 2,546 |  |  |  | 2,287 |
Pension liability adjustments |  |  | 748 |  |  |  | 1,852 |
Foreclosed real estate |  |  | 740 |  |  |  | 610 |
Basis differences in assets acquired in FDIC transactions |  |  | 1,311 |  |  |  | 2,539 |
Nonqualified stock options |  |  | 248 |  |  |  | 545 |
Partnership investments |  |  | 232 |  |  |  | 160 |
Unrealized gain on securities available for sale |  |  | 517 |  |  |  | 1,138 |
SBA servicing asset |  |  | 139 |  |  |  | — |
All other |  |  | 42 |  |  |  | 191 |
Gross deferred tax assets |  |  | 15,316 |  |  |  | 19,274 |
Less: Valuation allowance |  |  | (44 | ) |  |  | (43 | )
Net deferred tax assets |  |  | 15,272 |  |  |  | 19,231 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Loan fees |  |  | (1,880 | ) |  |  | (1,548 | )
Excess book over tax pension plan cost |  |  | (95 | ) |  |  | — |
Depreciable basis of fixed assets |  |  | (3,122 | ) |  |  | (954 | )
Amortizable basis of intangible assets |  |  | (7,915 | ) |  |  | (12,156 | )
FHLB stock dividends |  |  | (658 | ) |  |  | (409 | )
Trust preferred securities |  |  | (616 | ) |  |  | — |
Purchase accounting adjustments |  |  | (2,133 | ) |  |  | — |
All other |  |  | (28 | ) |  |  | (12 | )
Gross deferred tax liabilities |  |  | (16,447 | ) |  |  | (15,079 | )
Net deferred tax asset (liability) - included in other assets |  | $ | (1,175 | ) |  |  | 4,152
Schedule of effective tax rate reconciliation | The following is a reconcilement of federal income tax expense at the statutory rate of 35% to the income tax provision reported in the financial statements.
($ In thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Tax provision at statutory rate |  | $ | 23,709 |  |  |  | 14,746 |  |  |  | 14,405 |
Increase (decrease) in income taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt interest income |  |  | (1,461 | ) |  |  | (1,202 | ) |  |  | (930 | )
Low income housing tax credits |  |  | (596 | ) |  |  | (192 | ) |  |  | (191 | )
Non-deductible interest expense |  |  | 24 |  |  |  | 16 |  |  |  | 11 |
State income taxes, net of federal benefit |  |  | 1,780 |  |  |  | 1,158 |  |  |  | 1,152 |
Change in valuation allowance |  |  | (1 | ) |  |  | (24 | ) |  |  | (58 | )
Impact of tax reform |  |  | (1,269 | ) |  |  | — |  |  |  | — |
Other, net |  |  | (419 | ) |  |  | 122 |  |  |  | (263 | )
Total |  | $ | 21,767 |  |  |  | 14,624 |  |  |  | 14,126

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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