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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Taxes |
Schedule of components of income tax expense (benefit) |
|  | 2016 |  | 2015 |  | 2014
Current federal |  | $ | 399 |  | $ | 220 |  | $ | 122
Current state |  |  | - |  |  | - |  |  | 6
Deferred federal |  |  | 6,824 |  |  | 7,023 |  |  | 3,120
Deferred state |  |  | 1,597 |  |  | 1,733 |  |  | 4,876
Change in valuation allowance |  |  | - |  |  | - |  |  | (2,363)
Total income tax expenses |  | $ | 8,820 |  | $ | 8,976 |  | $ | 5,761
Schedule of components of deferred tax assets and liabilities |
|  | 2016 |  | 2015
Allowance for loan losses |  | $ | 7,057 |  | $ | 7,099
Deferred compensation |  |  | 735 |  |  | 690
Amortization of core deposit intangible |  |  | 1,401 |  |  | 1,629
Goodwill amortization/impairment |  |  | 10,127 |  |  | 11,623
Stock based compensation |  |  | 946 |  |  | 814
OREO write-downs |  |  | 5,110 |  |  | 6,917
Federal net operating loss (“NOL”) carryforward |  |  | 19,362 |  |  | 24,105
State net operating loss (“NOL”) carryforward |  |  | 7,735 |  |  | 8,746
Deferred tax credit |  |  | 2,058 |  |  | 1,749
Other assets |  |  | 1,199 |  |  | 792
Total deferred tax assets |  |  | 55,730 |  |  | 64,164
Accumulated depreciation on premises and equipment |  |  | (681) |  |  | (601)
Mortgage servicing rights |  |  | (2,760) |  |  | (2,484)
State tax benefits |  |  | (4,127) |  |  | (4,686)
Other liabilities |  |  | (526) |  |  | (336)
Total deferred tax liabilities |  |  | (8,094) |  |  | (8,107)
Net deferred tax asset before adjustments related to other comprehensive loss |  |  | 47,636 |  |  | 56,057
Tax effect of adjustments related to other comprehensive loss |  |  | 5,828 |  |  | 8,495
Net deferred tax asset |  | $ | 53,464 |  | $ | 64,552
Schedule of components of provision for deferred income taxes |
| 2016 |  | 2015 |  | 2014
Provision for loan losses | $ | 42 |  | $ | 2,480 |  | $ | 3,146
Deferred Compensation |  | (45) |  |  | 97 |  |  | 1
Amortization of core deposit intangible |  | 228 |  |  | 230 |  |  | (203)
Stock based compensation |  | (132) |  |  | (151) |  |  | (80)
OREO write-downs |  | 1,807 |  |  | 1,722 |  |  | 1,402
Federal net operating loss carryforward |  | 4,743 |  |  | 2,896 |  |  | 1,022
State net operating loss carryforward |  | 1,011 |  |  | 659 |  |  | 2,442
Deferred tax credit |  | (309) |  |  | (198) |  |  | (107)
Depreciation |  | 80 |  |  | (201) |  |  | (233)
Net premiums and discounts on securities |  | - |  |  | - |  |  | (8)
Mortgage servicing rights |  | 276 |  |  | 164 |  |  | (251)
Goodwill amortization/impairment |  | 1,496 |  |  | 1,506 |  |  | 2,123
State tax benefits |  | (559) |  |  | (604) |  |  | (1,704)
Change in valuation allowance |  | - |  |  | - |  |  | (2,363)
Other, net |  | (217) |  |  | 156 |  |  | 446
Total deferred tax expense | $ | 8,421 |  | $ | 8,756 |  | $ | 5,633
Schedule of difference between effective tax rates from federal statutory rates | Effective tax rates differ from federal statutory rates applied to financial statement income for the years ended December 31 due to the following:
|  | 2016 |  | 2015 |  | 2014
Tax at statutory federal income tax rate |  | $ | 8,577 |  | $ | 8,526 |  | $ | 5,564
Nontaxable interest income, net of disallowed interest deduction |  |  | (347) |  |  | (253) |  |  | (233)
BOLI income |  |  | (449) |  |  | (487) |  |  | (508)
State income taxes, net of federal benefit |  |  | 1,148 |  |  | 1,126 |  |  | 872
Change in valuation allowance |  |  | - |  |  | - |  |  | (2,363)
Impact of Illinois tax rate change |  |  | - |  |  | - |  |  | 2,363
Other, net |  |  | (109) |  |  | 64 |  |  | 66
Total tax at effective tax rate |  | $ | 8,820 |  | $ | 8,976 |  | $ | 5,761

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