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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes

(Dollars in Thousands)		2018			2017			2016
Current:
Federal		$	(1,617)		$	5,792		$	2,295
State			201			140			115
			(1,416)			5,932			2,410
Deferred:
Federal			3,620			1,232			2,742
State			1,285			974			712
Expense Due to Enactment of Federal Tax Reform			-			4,066			-
Change in Valuation Allowance			(68)			(1)			3
			4,837			6,271			3,457
Total:
Federal			2,003			7,024			5,037
State			1,486			1,114			827
Expense Due to Enactment of Federal Tax Reform			-			4,066			-
Change in Valuation Allowance			(68)			(1)			3
Total		$	3,421		$	12,203		$	5,867

Schedule of effective income tax rate reconciliation

(Dollars in Thousands)		2018			2017			2016
Tax Expense at Federal Statutory Rate		$	6,225		$	8,074		$	6,165
Increases (Decreases) Resulting From:
Tax-Exempt Interest Income			(494)			(805)			(662)
2017 Provision to Return - Impact of Federal Tax Reform			(3,590)			-			-
State Taxes, Net of Federal Benefit			1,174			724			538
Other			348			439			121
Change in Valuation Allowance			(68)			(1)			3
Tax-Exempt Cash Surrender Value Life Insurance Benefit			(174)			(294)			(298)
Expense Due to Enactment of Federal Tax Reform			-			4,066			-
Actual Tax Expense		$	3,421		$	12,203		$	5,867

Schedule of deferred income tax liabilities and assets

(Dollars in Thousands)		2018			2017
Deferred Tax Assets Attributable to:
Allowance for Loan Losses		$	3,602		$	3,373
Accrued Pension/SERP			9,102			10,289
State Net Operating Loss and Tax Credit Carry-Forwards			4,532			5,074
Other Real Estate Owned			1,270			1,520
Federal Net Operating Loss and Tax Credit Carry-Forwards			-			50
Accrued SERP Liability			1,869			1,398
Other			3,101			2,694
Total Deferred Tax Assets		$	23,476		$	24,398
Deferred Tax Liabilities Attributable to:
Depreciation on Premises and Equipment		$	3,970		$	3,272
Deferred Loan Fees and Costs			2,356			2,266
Intangible Assets			3,232			3,035
Accrued Pension Liability			5,001			907
Investments			469			469
Other			4			5
Total Deferred Tax Liabilities			15,032			9,954
Valuation Allowance			1,688			1,755
Net Deferred Tax Asset		$	6,756		$	12,689

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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.

+ References

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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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