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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:		2019				2018				2017
Current Federal		$	8,263			$	6,699			$	10,481
Current State		1,004				412				473
Deferred Federal		3,545				2,226				276
Deferred State		(795		)		191				304
Total		$	12,017			$	9,528			$	11,534

Schedule of Effective Income Tax Rate Reconciliation

Effective tax rates differ from the federal statutory rate of 21% for 2019 and 2018, and 35% for 2017 applied to income before income taxes due to the following:

		2019				2018				2017
Statutory Rate Times Pre-tax Income		$	14,960			$	11,772			$	18,274
Add (Subtract) the Tax Effect of:
Income from Tax-exempt Loans and Investments		(2,246		)		(2,129		)		(3,304		)
State Income Tax, Net of Federal Tax Effect		165				476				505
General Business Tax Credits		(1,039		)		(914		)		(715		)
Company Owned Life Insurance		(421		)		(260		)		(469		)
Revaluation of Deferred Tax Assets/Liabilities due to Tax Reform		—				—				(2,284		)
Other Differences		598				583				(473		)
Total Income Taxes		$	12,017			$	9,528			$	11,534

Schedule of Net Deferred Tax Liability

The net deferred tax liability at December 31 consists of the following:

		2019				2018
Deferred Tax Assets:
Allowance for Loan Losses		$	3,466			$	3,661
Lease Liability (Operating Leases)		2,198				—
Unrealized Loss on Securities		—				1,885
Deferred Compensation and Employee Benefits		787				736
Other-than-temporary Impairment		240				238
Accrued Expenses		1,209				906
Business Combination Fair Value Adjustments		3,475				3,715
Pension and Postretirement Plans		200				119
Other Real Estate Owned		48				17
Non-Accrual Loan Interest Income		554				352
Net Operating Loss Carryforward		786				322
Other		1,044				366
Total Deferred Tax Assets		14,007				12,317
Deferred Tax Liabilities:
Depreciation		(2,498		)		(1,879		)
Leasing Activities, Net		(10,816		)		(8,999		)
Unrealized Gain on Securities		(4,302		)		—
FHLB Stock Dividends		(245		)		(192		)
Prepaid Expenses		(629		)		(345		)
Intangibles		(2,032		)		(1,169		)
Deferred Loan Fees		(589		)		(514		)
Mortgage Servicing Rights		(75		)		(238		)
Right of Use Asset (Operating Leases)		(2,180		)		—
Other		(685		)		(674		)
Total Deferred Tax Liabilities		(24,051		)		(14,010		)
Valuation Allowance		—				—
Net Deferred Tax Liability		$	(10,044	)		$	(1,693	)

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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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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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