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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2019
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)
  
2019
    
2018
    
2017
  
Current income tax expense
  
$
8,864
    
$
11,560
    
$
20,108
  
Deferred income tax expense (benefit)
    
2,030
      
(246
)
    
(259
)
Effect of Tax Cuts & Jobs Act benefit
    
0
      
0
      
(2,831
)
Effect of Kentucky tax legislation benefit
    
(3,442
)
    
0
      
0
  
Total income tax expense
  
$
7,452
    
$
11,314
    
$
17,018
  
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)
  
2019
    
2018
    
2017
  
Computed at the statutory rate
  
$
15,118
      
21.00
%
  
$
14,814
      
21.00
%
  
$
23,979
      
35.00
%
Adjustments resulting from:
                                                
Tax-exempt interest
    
(563
)
    
(0.78
)
    
(673
)
    
(0.95
)
    
(1,259
)
    
(1.84
)
Housing and new markets credits
    
(4,471
)
    
(6.21
)
    
(2,635
)
    
(3.73
)
    
(2,579
)
    
(3.76
)
Dividends received deduction
    
0
      
-
      
(9
)
    
(0.01
)
    
(129
)
    
(0.19
)
Bank owned life insurance
    
(284
)
    
(0.39
)
    
(599
)
    
(0.85
)
    
(492
)
    
(0.72
)
ESOP dividend deduction
    
(203
)
    
(0.28
)
    
(188
)
    
(0.27
)
    
(319
)
    
(0.47
)
Stock option exercises and restricted stock vesting
    
(10
)
    
(0.01
)
    
(39
)
    
(0.06
)
    
(170
)
    
(0.25
)
Effect of Tax Cuts & Jobs Act
    
0
      
-
      
0
      
-
      
(2,831
)
    
(4.13
)
Effect of KY tax legislation
    
(2,719
)
    
(3.78
)
    
0
      
-
      
0
      
-
  
State income taxes
    
405
      
0.56
      
409
      
0.58
      
429
      
0.63
  
Other
    
179
      
0.24
      
234
      
0.33
      
389
      
0.57
  
Total
  
$
7,452
      
10.35
%
  
$
11,314
      
16.04
%
  
$
17,018
      
24.84
%
Components of Net Deferred Tax Liability The components of the net deferred tax liability as of December 31 are as follows:

(in thousands)
  
2019
    
2018
  
Deferred tax assets:
            
Allowance for loan and lease losses
  
$
8,757
    
$
7,541
  
Interest on nonperforming loans
    
485
      
531
  
Accrued expenses
    
1,100
      
1,093
  
Allowance for other real estate owned
    
1,437
      
1,435
  
Unrealized losses on AFS securities
    
0
      
1,757
  
State net operating loss carryforward
    
3,786
      
3,957
  
Lease liabilities
    
3,859
      
0
  
Other
    
294
      
164
  
Total deferred tax assets
    
19,718
      
16,478
  
                 
Deferred tax liabilities:
                
Depreciation and amortization
    
(15,048
)
    
(12,210
)
FHLB stock dividends
    
(1,441
)
    
(1,704
)
Loan fee income
    
(656
)
    
(419
)
Mortgage servicing rights
    
(814
)
    
(757
)
Right of use assets
    
(3,698
)
    
0
  
Unrealized gains on AFS securities
    
(1,534
)
    
0
  
Limited partnership investments
    
(326
)
    
(257
)
Other
    
(1,101
)
    
(537
)
Total deferred tax liabilities
    
(24,618
)
    
(15,884
)
                 
Beginning balance for valuation allowance for deferred tax asset
    
3,957
      
3,930
  
Change in valuation allowance
    
(3,747
)
    
27
  
Ending balance for valuation allowance for deferred tax asset
    
210
    
$
3,957
  
                 
Net deferred tax liability
  
$
(5,110
)
  
$
(3,363
)