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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2018
Income Taxes [Abstract] |
Components of Provision for Income Taxes | The components of the provision for income taxes, exclusive of tax effect of unrealized AFS securities gains and losses, are as follows:
(in thousands) |  | 2018 |  |  | 2017 |  |  | 2016 |
Current income tax expense |  | $ | 11,560 |  |  | $ | 20,108 |  |  | $ | 18,417 |
Deferred income tax expense (benefit) |  |  | (246 | ) |  |  | (259 | ) |  |  | 701 |
Effect of Tax Cuts & Jobs Act (benefit) |  |  | 0 |  |  |  | (2,831 | ) |  |  | 0 |
Total income tax expense |  | $ | 11,314 |  |  | $ | 17,018 |  |  | $ | 19,118 |
Reconciliation of Income Tax Expense at Statutory Rate to Actual Income Tax Expense | A reconciliation of income tax expense at the statutory rate to our actual income tax expense is shown below:
(in thousands) |  | 2018 |  |  | 2017 |  |  | 2016 |
Computed at the statutory rate |  | $ | 14,814 |  |  |  | 21.00 | % |  | $ | 23,979 |  |  |  | 35.00 | % |  | $ | 23,262 |  |  |  | 35.00 | %
Adjustments resulting from: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt interest |  |  | (673 | ) |  |  | (0.95 | ) |  |  | (1,259 | ) |  |  | (1.84 | ) |  |  | (1,289 | ) |  |  | (1.94 | )
Housing and new markets credits |  |  | (2,635 | ) |  |  | (3.73 | ) |  |  | (2,579 | ) |  |  | (3.76 | ) |  |  | (2,680 | ) |  |  | (4.03 | )
Dividends received deduction |  |  | (9 | ) |  |  | (0.01 | ) |  |  | (129 | ) |  |  | (0.19 | ) |  |  | (136 | ) |  |  | (0.20 | )
Bank owned life insurance |  |  | (599 | ) |  |  | (0.85 | ) |  |  | (492 | ) |  |  | (0.72 | ) |  |  | (518 | ) |  |  | (0.78 | )
ESOP dividend deduction |  |  | (188 | ) |  |  | (0.27 | ) |  |  | (319 | ) |  |  | (0.47 | ) |  |  | (313 | ) |  |  | (0.47 | )
Stock option exercises and restricted stock vesting |  |  | (39 | ) |  |  | (0.06 | ) |  |  | (170 | ) |  |  | (0.25 | ) |  |  | 0 |  |  |  | - |
Effect of Tax Cuts & Jobs Act |  |  | 0 |  |  |  | - |  |  |  | (2,831 | ) |  |  | (4.13 | ) |  |  | 0 |  |  |  | - |
Other, net |  |  | 643 |  |  |  | 0.91 |  |  |  | 818 |  |  |  | 1.20 |  |  |  | 792 |  |  |  | 1.18 |
Total |  | $ | 11,314 |  |  |  | 16.04 | % |  | $ | 17,018 |  |  |  | 24.84 | % |  | $ | 19,118 |  |  |  | 28.76 | %
Components of Net Deferred Tax Liability | The components of the net deferred tax liability as of December 31 are as follows:
(in thousands) |  | 2018 |  |  | 2017 |
Deferred tax assets: |  |  |  |  |  |
Allowance for loan and lease losses |  | $ | 7,541 |  |  | $ | 7,592 |
Interest on nonperforming loans |  |  | 531 |  |  |  | 560 |
Accrued expenses |  |  | 1,093 |  |  |  | 442 |
Allowance for other real estate owned |  |  | 1,435 |  |  |  | 1,322 |
Limited partnership investments |  |  | 0 |  |  |  | 64 |
Unrealized losses on AFS securities |  |  | 1,757 |  |  |  | 932 |
Other |  |  | 164 |  |  |  | 204 |
Total deferred tax assets |  |  | 12,521 |  |  |  | 11,116 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | (12,210 | ) |  |  | (12,270 | )
FHLB stock dividends |  |  | (1,704 | ) |  |  | (2,076 | )
Loan fee income |  |  | (419 | ) |  |  | (263 | )
Mortgage servicing rights |  |  | (757 | ) |  |  | (732 | )
Capitalized lease obligations |  |  | 0 |  |  |  | (14 | )
Limited partnership investments |  |  | (257 | ) |  |  | 0 |
Other |  |  | (537 | ) |  |  | (195 | )
Total deferred tax liabilities |  |  | (15,884 | ) |  |  | (15,550 | )
Net deferred tax liability |  | $ | (3,363 | ) |  | $ | (4,434 | )

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