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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2012
Income Taxes Tables  
Schedule of provision for income taxes

 

(Dollars in Thousands)   2012   2011   2010
Current:                        
Federal   $ 1,189     $ 3,124     $ (5,392 )
State     280       424       525  
Deferred:                        
Federal     (1,260 )     (1,828 )     3,990  
State     (1,597 )     (1,350 )     (2,158 )
Valuation Allowance     52       259       66  
Total   $ (1,336 )   $ 629     $ (2,969 )
Schedule of effective income tax rate reconciliation

 

(Dollars in Thousands)   2012   2011   2010
Tax Expense at Federal Statutory Rate   $ (430 )   $ 1,934     $ (1,184 )
Increases (Decreases) Resulting From:                        
Tax-Exempt Interest Income     (402 )     (612 )     (955 )
Change in Reserve for Uncertain Tax Position     (347 )     (168 )     127  
State Taxes, Net of Federal Benefit     (856 )     (602 )     (1,062 )
Other     199       (182 )     39  
Change in Valuation Allowance     52       259       66  
Increase Deferred Tax Liability for Equity Investment     448                  
Actual Tax Expense   $ (1,336 )   $ 629     $ (2,969 )
Schedule of deferred income tax liabilities and assets

 

(Dollars in Thousands)   2012   2011
Deferred Tax Assets Attributable to:                
Allowance for Loan Losses   $ 11,253     $ 11,973  
Associate Benefits     297       297  
Accrued Pension/SERP     18,927       15,448  
Interest on Nonperforming Loans     777       580  
State Net Operating Loss and Tax Credit Carry-Forwards     5,002       4,119  
Federal Capital Loss and Credit Carry-Forwards     641       287  
Intangible Assets     224       198  
Core Deposit Intangible     1,687       2,487  
Contingency Reserve     9       241  
Accrued Expense     442       437  
Leases     413       410  
Other Real Estate Owned     9,869       10,551  
Other     2,610       895  
Total Deferred Tax Assets   $ 52,151     $ 47,923  
                 
Deferred Tax Liabilities Attributable to:                
Depreciation on Premises and Equipment   $ 7,117     $ 6,843  
Deferred Loan Fees and Costs     2,864       2,907  
Net Unrealized Gains on Investment Securities     585       880  
Intangible Assets     3,119       2,819  
Accrued Pension/SERP     1,870       3,368  
Securities Accretion     —         —    
Market Value on Loans Held for Sale     —         —    
Other     497       1,638  
Total Deferred Tax Liabilities     16,052       18,455  
Valuation Allowance     1,170       1,118  
Net Deferred Tax Asset   $ 34,929     $ 28,350  
Schedule of changes in net deferred income tax assets

(Dollars in Thousands)   2012   2011
Balance at Beginning of Year   $ 28,350     $ 20,499  
Income Tax Benefit From Change in Pension Liability     3,479       5,135  
Income Tax Benefit (Expense) From Change in Unrealized Gains on Available-for-Sale Securities     295       (203 )
Deferred Income Tax Benefit on Continuing Operations     2,805       2,919  
Balance at End of Year   $ 34,929     $ 28,350  
Schedule of beginning and ending unrecognized tax benefit

 

(Dollars in Thousands)   2012   2011   2010
Balance at January 1,   $ 4,577     $ 4,770     $ 4,589  
Additions Based on Tax Positions Related to Current  Year     508       522       611  
Decrease Due to Lapse in Statue of Limitations     (876 )     (715 )     (430 )
Balance at December 31   $ 4,209     $ 4,577     $ 4,770