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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
INCOME TAXES |
Schedule of income tax expense | Income tax expense is summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollar amounts in thousands) |  | 2023 |  | 2022 |  | 2021
Federal: |  | ​ |  |  | ​ |  |  | ​ |
Currently payable | ​ | $ | 9,047 | ​ | $ | 11,016 | ​ | $ | 7,978
Deferred | ​ |  | 263 | ​ |  | 2,277 | ​ |  | 1,488
​ | ​ |  | 9,310 | ​ |  | 13,293 | ​ |  | 9,466
State: | ​ |  |  | ​ |  |  | ​ |  |
Currently payable | ​ |  | 2,302 | ​ |  | 2,485 | ​ |  | 3,080
Deferred | ​ |  | 209 | ​ |  | 873 | ​ |  | 80
​ | ​ |  | 2,511 | ​ |  | 3,358 | ​ |  | 3,160
TOTAL | ​ | $ | 11,821 | ​ | $ | 16,651 | ​ | $ | 12,626
Schedule of 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) |  | 2023 |  | 2022 |  | 2021
Federal income taxes computed at the statutory rate | ​ | $ | 15,223 | ​ | $ | 18,430 | ​ | $ | 13,779
Add (deduct) tax effect of: | ​ |  |  | ​ |  |  | ​ |  |
Tax exempt income | ​ |  | (3,548) | ​ |  | (3,439) | ​ |  | (2,745)
ESOP dividend deduction | ​ |  | (107) | ​ |  | (103) | ​ |  | (101)
State tax, net of federal benefit | ​ |  | 1,984 | ​ |  | 2,653 | ​ |  | 2,496
General business tax credits | ​ |  | (1,720) | ​ |  | (674) | ​ |  | (716)
Other, net | ​ |  | (11) | ​ |  | (216) | ​ |  | (87)
TOTAL | ​ | $ | 11,821 | ​ | $ | 16,651 | ​ | $ | 12,626
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, 2023 and 2022, are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollar amounts in thousands) |  | 2023 |  | 2022
Deferred tax assets: |  | ​ |  |  | ​ |
Other than temporary impairment | ​ | $ | 739 | ​ | $ | 752
Net unrealized losses on retirement plans | ​ |  | 3,497 | ​ |  | 5,614
Net unrealized loss on available for sale securities | ​ |  | 35,358 | ​ |  | 39,242
Loan loss provisions | ​ |  | 9,772 | ​ |  | 10,054
Unfunded commitments | ​ |  | 528 | ​ |  | 537
Deferred compensation | ​ |  | 1,711 | ​ |  | 1,957
Compensated absences | ​ |  | 783 | ​ |  | 709
Post-retirement benefits | ​ |  | 1,218 | ​ |  | 1,051
Lease liability | ​ |  | 1,463 | ​ |  | 1,572
Purchase accounting | ​ |  | — | ​ |  | 114
Other | ​ |  | 3,808 | ​ |  | 3,018
GROSS DEFERRED ASSETS | ​ |  | 58,877 | ​ |  | 64,620
Deferred tax liabilities: | ​ |  |  | ​ |  |
Depreciation | ​ |  | (350) | ​ |  | (660)
Mortgage servicing rights | ​ |  | (310) | ​ |  | (458)
Pensions | ​ |  | (1,458) | ​ |  | (1,120)
Right-of-use asset | ​ |  | (1,452) | ​ |  | (1,566)
Intangibles | ​ |  | (6,318) | ​ |  | (6,093)
FHLB stock dividends | ​ |  | — | ​ |  | (32)
Purchase accounting | ​ |  | (157) | ​ |  | —
Other | ​ |  | (4,732) | ​ |  | (4,118)
GROSS DEFERRED LIABILITIES | ​ |  | (14,777) | ​ |  | (14,047)
NET DEFERRED TAX ASSETS | ​ | $ | 44,100 | ​ | $ | 50,573
Schedule of 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) |  | 2023 |  | 2022 |  | 2021
Balance at January 1 | ​ | $ | 858 | ​ | $ | 808 | ​ | $ | 867
Additions based on tax positions related to the current year | ​ |  | 74 | ​ |  | 59 | ​ |  | 9
Additions based on tax positions related to prior years | ​ |  | — | ​ |  | — | ​ |  | —
Reductions due to the statute of limitations | ​ |  | (106) | ​ |  | (9) | ​ |  | (68)
Balance at December 31 | ​ | $ | 826 | ​ | $ | 858 | ​ | $ | 808

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