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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of income tax allocation

Total income taxes for the years ended December 31, 2018, 2017, and 2016 were allocated as follows:

($ In thousands)		2018				2017				2016
Allocated to net income		$	24,189				21,767				14,624
Allocated to stockholders’ equity, for unrealized holding gain/loss on debt and equity securities for financial reporting purposes			(2,379	)			321				(685	)
Allocated to stockholders’ equity, for tax benefit of pension liabilities			(5	)			668				(36	)
Total income taxes		$	21,805				22,756				13,903

Schedule of components of Income tax expense

The components of income tax expense for the years ended December 31, 2018, 2017, and 2016 are as follows:

($ In thousands)			2018				2017				2016
Current	- Federal		$	19,188				11,286				12,827
	- State			3,187				1,996				1,679
Deferred	- Federal			1,658				7,742				16
	- State			156				743				102
Total			$	24,189				21,767				14,624

Schedule 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, 2018 and 2017 are presented below:

($ In thousands)		2018				2017
Deferred tax assets:
Allowance for loan losses		$	4,917				5,448
Excess book over tax pension plan cost			92				—
Deferred compensation			367				1,220
Federal & state net operating loss and tax credit carryforwards			631				2,125
Accruals, book versus tax			3,036				2,546
Pension liability adjustments			752				748
Foreclosed real estate			715				740
Basis differences in assets acquired in FDIC transactions			1,121				1,311
Nonqualified stock options			240				248
Partnership investments			208				232
Unrealized gain on securities available for sale			2,895				517
SBA servicing asset			310				139
All other			42				42
Gross deferred tax assets			15,326				15,316
Less: Valuation allowance			(36	)			(44	)
Net deferred tax assets			15,290				15,272
Deferred tax liabilities:
Loan fees			(2,484	)			(1,880	)
Excess book over tax pension plan cost			—				(95	)
Depreciable basis of fixed assets			(4,278	)			(3,122	)
Amortizable basis of intangible assets			(7,921	)			(7,915	)
FHLB stock dividends			(721	)			(658	)
Trust preferred securities			(528	)			(616	)
Purchase accounting adjustments			(122	)			(2,133	)
All other			—				(28	)
Gross deferred tax liabilities			(16,054	)			(16,447	)
Net deferred tax asset (liability) - included in other assets		$	(764	)			(1,175	)

Schedule of effective tax rate reconciliation

The following is a reconcilement of federal income tax expense at the statutory rate of 21% at December 31, 2018 and 35% at December 31, 2017 and 2016, to the income tax provision reported in the financial statements.

($ In thousands)		2018				2017				2016
Tax provision at statutory rate		$	23,830				23,709				14,746
Increase (decrease) in income taxes resulting from:
Tax-exempt interest income			(1,117	)			(1,461	)			(1,202	)
Low income housing and AMT tax credits			(698	)			(596	)			(192	)
Non-deductible interest expense			27				24				16
State income taxes, net of federal benefit			2,639				1,780				1,158
Change in valuation allowance			(8	)			(1	)			(24	)
Impact of tax reform			—				(1,269	)			—
Other, net			(484	)			(419	)			122
Total		$	24,189				21,767				14,624

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The tabular disclosure for the components of income tax expense.

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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.

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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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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.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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