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INCOME TAXES: (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Income Tax Expense | Income tax expense is summarized as follows:
(Dollar amounts in thousands) |  | 2021 |  | 2020 |  | 2019
Federal: |  |  |  |  |  |
Currently payable |  | $ | 7,978 |  |  | $ | 7,886 |  |  | $ | 7,118 |
Deferred |  | 1,488 |  |  | 1,188 |  |  | 2,435 |
|  | 9,466 |  |  | 9,074 |  |  | 9,553 |
State: |  |  |  |  |  |
Currently payable |  | 3,080 |  |  | 2,422 |  |  | 2,168 |
Deferred |  | 80 |  |  | 196 |  |  | 406 |
|  | 3,160 |  |  | 2,618 |  |  | 2,574 |
TOTAL |  | $ | 12,626 |  |  | $ | 11,692 |  |  | $ | 12,127 |
Reconciliation of Income Tax Expense | The reconciliation of income tax expense with the amount computed by applying the statutory federal income tax rate of 21% to income before income taxes is summarized as follows:
(Dollar amounts in thousands) |  | 2021 |  | 2020 |  | 2019
Federal income taxes computed at the statutory rate |  | $ | 13,779 |  |  | $ | 13,763 |  |  | $ | 12,810 |
Add (deduct) tax effect of: |  |  |  |  |  |
Tax exempt income |  | (2,745) |  |  | (2,643) |  |  | (2,551) |
ESOP dividend deduction |  | (101) |  |  | (98) |  |  | (115) |
State tax, net of federal benefit |  | 2,496 |  |  | 2,068 |  |  | 2,034 |
General business tax credits |  | (716) |  |  | (1,648) |  |  | (148) |
Other, net |  | (87) |  |  | 250 |  |  | 97 |
TOTAL |  | $ | 12,626 |  |  | $ | 11,692 |  |  | $ | 12,127 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31, 2021 and 2020, are as follows:
(Dollar amounts in thousands) |  | 2021 |  | 2020
Deferred tax assets: |  |  |  |
Other than temporary impairment |  | $ | 764 |  |  | $ | 753 |
Net unrealized losses on retirement plans |  | 6,033 |  |  | 8,132 |
Loan loss provisions |  | 12,476 |  |  | 12,150 |
Unfunded commitments |  | 764 |  |  | — |
Deferred compensation |  | 2,367 |  |  | 2,496 |
Compensated absences |  | 739 |  |  | 623 |
Post-retirement benefits |  | 1,284 |  |  | 1,286 |
Lease liability |  | 1,597 |  |  | 1,450 |
Purchase accounting |  | 1,333 |  |  | 1,060 |
Deferred loss on acquisition |  | — |  |  | — |
Other |  | 2,770 |  |  | 2,186 |
GROSS DEFERRED ASSETS |  | 30,127 |  |  | 30,136 |
Deferred tax liabilities: |  |  |  |
Net unrealized gains on securities available-for-sale |  | (4,269) |  |  | (8,752) |
Depreciation |  | (1,611) |  |  | (2,155) |
Mortgage servicing rights |  | (515) |  |  | (390) |
Pensions |  | (1,647) |  |  | (843) |
Right-of-use asset |  | (1,591) |  |  | (1,446) |
Intangibles |  | (5,717) |  |  | (5,458) |
FHLB stock dividends |  | (32) |  |  | (111) |
Other |  | (4,113) |  |  | (3,963) |
GROSS DEFERRED LIABILITIES |  | (19,495) |  |  | (23,118) |
NET DEFERRED TAX ASSETS |  | $ | 10,632 |  |  | $ | 7,018 |
Reconciliation of Unrecognized Tax Benefits | Unrecognized Tax Benefits — A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
(Dollar amounts in thousands) |  | 2021 |  | 2020 |  | 2019
Balance at January 1 |  | $ | 867 |  |  | $ | 825 |  |  | $ | 922 |
Additions based on tax positions related to the current year |  | 9 |  |  | 114 |  |  | 298 |
Additions based on tax positions related to prior years |  | — |  |  | — |  |  | — |
Reductions due to the statute of limitations |  | (68) |  |  | (72) |  |  | (395) |
Balance at December 31 |  | $ | 808 |  |  | $ | 867 |  |  | $ | 825 |

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