XML 70 R40.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2013
Income Taxes [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The current and deferred amounts of income tax expense for the years ended December 31, 2013, 2012 and 2011, respectively, are as follows:
|  | 2013 |  | 2012 |  | 2011 |
|  | (Dollars in Thousands) |
Current: |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 5,658 |  | $ | 5,506 |  | $ | 3,818 |
State |  |  | 87 |  |  | 259 |  |  | 187 |
Subtotal |  |  | 5,745 |  |  | 5,765 |  |  | 4,005 |
Deferred: |  |  |  |  |  |  |  |  |  |
Federal |  |  | 1,906 |  |  | 1,085 |  |  | 2,157 |
State |  |  | (167) |  |  | 827 |  |  | 1,249 |
Subtotal |  |  | 1,739 |  |  | 1,912 |  |  | 3,406 |
Income tax expense |  | $ | 7,484 |  | $ | 7,677 |  | $ | 7,411 |
Schedule of Effective Income Tax Rate Reconciliation | Reconciliation between the amount of reported income tax expense and the amount computed by applying the statutory Federal income tax rate is as follows:
|  | 2013 |  |  | 2012 |  |  | 2011 |
|  | (Dollars in Thousands) |
Income before income tax expense |  | $ | 27,409 |  |  | $ | 25,184 |  |  | $ | 21,337 |
Federal statutory rate |  |  | 35 | % |  |  | 35 | % |  |  | 35 | %
Computed “expected” Federal income tax expense |  |  | 9,593 |  |  |  | 8,814 |  |  |  | 7,468 |
State tax, net of Federal tax benefit |  |  | (53) |  |  |  | 706 |  |  |  | 933 |
Bank owned life insurance |  |  | (477) |  |  |  | (356) |  |  |  | (363) |
Tax-exempt interest and dividends |  |  | (1,645) |  |  |  | (1,228) |  |  |  | (595) |
Bargain gain on Saddle River Valley Bank acquisition |  |  | — |  |  |  | (314) |  |  |  | — |
Other, net |  |  | 66 |  |  |  | 55 |  |  |  | (32) |
Income tax |  | $ | 7,484 |  |  | $ | 7,677 |  |  | $ | 7,411 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax asset and deferred tax liability at December 31, 2013 and 2012 are presented in the following table:
|  | 2013 |  | 2012 |
|  | (Dollars in Thousands) |
Deferred tax assets: |  |  |  |  |  |  |
Impaired assets |  | $ | 1,221 |  | $ | 1,967 |
Allowance for loan losses |  |  | 4,118 |  |  | 4,040 |
Employee benefit plans |  |  | — |  |  | 64 |
Pension actuarial losses |  |  | 2,206 |  |  | 2,473 |
Other |  |  | 466 |  |  | 454 |
NJ NOL |  |  | 399 |  |  | — |
NJ AMA credits |  |  | 137 |  |  | 131 |
Total deferred tax assets |  | $ | 8,547 |  | $ | 9,129 |
Deferred tax liabilities: |  |  |  |  |  |  |
Employee benefit plans |  | $ | 1,281 |  | $ | — |
Depreciation |  |  | 416 |  |  | 294 |
Market discount accretion |  |  | 200 |  |  | 148 |
Deferred loan costs, net of fees |  |  | 385 |  |  | 330 |
Purchase accounting |  |  | 522 |  |  | 608 |
Unrealized gains on securities available-for-sale |  |  | 547 |  |  | 5,675 |
Total deferred tax liabilities |  |  | 3,351 |  |  | 7,055 |
Net deferred tax asset |  | $ | 5,196 |  | $ | 2,074 |

X
- Details
Name: | us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract
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://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=6907707&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://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
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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration