XML 56 R39.htm IDEA: XBRL DOCUMENT v3.20.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:						2020						2019						2018
Current Federal						$	14,186					$	8,263					$	6,699
Current State						2,265						1,004						412
Deferred Federal						(2,765)						3,545						2,226
Deferred State						(852)						(795)						191
Total						$	12,834					$	12,017					$	9,528

Schedule of Effective Income Tax Rate Reconciliation

Effective tax rates differ from the federal statutory rate of 21% for 2020, 2019 and 2018 applied to income before income taxes due to the following:

						2020						2019						2018
Statutory Rate Times Pre-tax Income						$	15,759					$	14,960					$	11,772
Add (Subtract) the Tax Effect of:
Income from Tax-exempt Loans and Investments						(2,681)						(2,246)						(2,129)
State Income Tax, Net of Federal Tax Effect						1,116						165						476
General Business Tax Credits						(1,085)						(1,039)						(914)
Company Owned Life Insurance						(484)						(421)						(260)
Other Differences						209						598						583
Total Income Taxes						$	12,834					$	12,017					$	9,528

Schedule of Net Deferred Tax Liability

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

						2020						2019
Deferred Tax Assets:
Allowance for Credit Losses						$	10,568					$	3,466
Lease Liability (Operating Leases)						2,055						2,198
Unrealized Loss on Securities						—						—
Deferred Compensation and Employee Benefits						823						787
Other-than-temporary Impairment						246						240
Accrued Expenses						1,200						1,209
Business Combination Fair Value Adjustments						777						3,475
Pension and Postretirement Plans						200						200
Other Real Estate Owned						25						48
Non-Accrual Loan Interest Income						678						554
Net Operating Loss Carryforward						1,010						786
Other						1,000						1,044
Total Deferred Tax Assets						18,582						14,007
Deferred Tax Liabilities:
Depreciation						(2,331)						(2,498)
Leasing Activities, Net						(10,638)						(10,816)
Unrealized Gain on Securities						(9,734)						(4,302)
FHLB Stock Dividends						(206)						(245)
Prepaid Expenses						(641)						(629)
Intangibles						(1,670)						(2,032)
Deferred Loan Fees						(730)						(589)
Mortgage Servicing Rights						(9)						(75)
Right of Use Asset (Operating Leases)						(2,028)						(2,180)
Other						(230)						(685)
Total Deferred Tax Liabilities						(28,217)						(24,051)
Valuation Allowance						—						—
Net Deferred Tax Liability						$	(9,635)					$	(10,044)

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-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

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration