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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes

Schedule of components of income tax expense (benefit)

		December 31, 2018			December 31, 2017			December 31, 2016
Current federal		$	-		$	(2,407)		$	399
Current state			84			-			-
Deferred federal			6,226			11,724			6,824
Deferred state			3,614			372			1,597
Expense due to enactment of federal tax reform			-			9,475			-
Total income tax expenses		$	9,924		$	19,164		$	8,820

Schedule of components of deferred tax assets and liabilities

		December 31, 2018			December 31, 2017
Allowance for loan and lease losses		$	5,803		$	5,377
Deferred compensation			665			650
Amortization of core deposit intangible			-			827
Goodwill amortization/impairment			4,698			6,087
Stock based compensation			1,377			866
Business combination adjustments			2,532			-
OREO write-downs			2,337			2,385
Federal net operating loss (“NOL”) carryforward			2,199			7,240
State net operating loss (“NOL”) carryforward			4,034			7,020
Other assets			1,401			1,017
Total deferred tax assets			25,046			31,469
Accumulated depreciation on premises and equipment			(443)			(384)
Mortgage servicing rights			(2,210)			(2,086)
Amortization of core deposit intangible			(130)			-
State tax benefits			(1,839)			(2,389)
Other liabilities			(741)			(545)
Total deferred tax liabilities			(5,363)			(5,404)
Net deferred tax asset before adjustments related to other comprehensive income			19,683			26,065
Tax effect of adjustments related to other comprehensive income (loss)			1,597			(709)
Net deferred tax asset		$	21,280		$	25,356

Schedule of components of provision for deferred income taxes

	December 31, 2018			December 31, 2017			December 31, 2016
Provision for loan and lease losses	$	(426)		$	1,680		$	42
Deferred Compensation		(15)			85			(45)
Amortization of core deposit intangible		957			574			228
Stock based compensation		(511)			80			(132)
Business combination adjustments		927			-			-
OREO write-downs		48			2,725			1,807
Federal net operating loss carryforward		5,041			12,122			4,743
State net operating loss carryforward		2,986			715			1,011
Deferred tax credit		-			2,058			(309)
Depreciation		59			(297)			80
Mortgage servicing rights		124			(674)			276
Goodwill amortization/impairment		1,389			4,040			1,496
State tax benefits		(550)			(1,738)			(559)
Other, net		(189)			201			(217)
Total deferred tax expense	$	9,840		$	21,571		$	8,421

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:

		December 31, 2018			December 31, 2017			December 31, 2016
Tax at statutory federal income tax rate		$	9,227		$	11,817		$	8,577
Nontaxable interest income, net of disallowed interest deduction			(1,600)			(1,976)			(347)
BOLI income			(422)			(501)			(449)
State income taxes, net of federal benefit			2,927			1,775			1,148
Stock based compensation			(305)			-			-
Impact of Federal tax rate change			-			9,475			-
Impact of Illinois tax rate change			-			(1,566)			-
Other, net			97			140			(109)
Total tax at effective tax rate		$	9,924		$	19,164		$	8,820

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Tabular disclosure of components of provision for deferred income tax expense (benefit) recognized in the entity's financial statements.

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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.

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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.

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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.

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