XML 22 R36.htm IDEA: XBRL DOCUMENT
v3.20.1

INCOME TAXES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2020
INCOME TAXES |
Schedule of allocation of federal and state income taxes between current and deferred portions |
|  | Three Months Ended
|  | March 31,
|  | 2020 |  | 2019
|  | (dollars in thousands)
Current |  |  |  |  |  |
Federal |  | $ | 1,721 |  | $ | —
State |  |  | 988 |  |  | 215
Total current |  |  | 2,709 |  |  | 215
Deferred |  |  |  |  |  |
Federal |  |  | (457) |  |  | —
State |  |  | (221) |  |  | —
Total deferred |  |  | (678) |  |  | —
Income tax expense |  | $ | 2,031 |  | $ | 215
Schedule of effective income tax rate reconciliation |
|  | Three Months Ended March 31, |  |
|  | 2020 |  | 2019 |  |
|  | Amount |  | Percentage |  | Amount |  | Percentage |  |
|  | (dollars in thousands) |  |
Federal income tax, at statutory rate |  | $ | 1,733 |  | 21.0 | % | $ | — |  | — | % |
Increase (decrease) resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Federally tax exempt interest income |  |  | (357) |  | (4.3) |  |  | — |  | — |  |
State taxes, net of federal benefit |  |  | 631 |  | 7.6 |  |  | 215 |  | 1.1 |  |
Other |  |  | 24 |  | 0.3 |  |  | — |  | — |  |
Income tax expense |  | $ | 2,031 |  | 24.6 | % | $ | 215 |  | 1.1 | % |
Schedule of components of the net deferred tax asset |
|  | March 31, |  | December 31,
|  | 2020 |  | 2019
|  | (dollars in thousands)
Deferred tax assets |  |  |  |  |  |
Allowance for loan losses |  | $ | 7,378 |  | $ | 6,309
Compensation related |  |  | 5,482 |  |  | 5,859
Nonaccrual interest |  |  | 631 |  |  | 858
Foreclosed assets |  |  | 74 |  |  | 574
Goodwill |  |  | 482 |  |  | 531
Other |  |  | 1,460 |  |  | 1,282
Total deferred tax assets |  |  | 15,507 |  |  | 15,413
Deferred tax liabilities |  |  |  |  |  |
Fixed asset depreciation |  |  | 4,146 |  |  | 4,201
Mortgage servicing rights |  |  | 1,809 |  |  | 2,428
Other purchase accounting adjustments |  |  | 1,327 |  |  | 1,356
Intangible assets |  |  | 773 |  |  | 841
Prepaid assets |  |  | 425 |  |  | 504
Net unrealized gain on debt securities available-for-sale |  |  | 4,418 |  |  | 2,251
Other |  |  | 413 |  |  | 426
Total deferred tax liabilities |  |  | 13,311 |  |  | 12,007
Net deferred tax asset |  | $ | 2,196 |  |  | 3,406

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration