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INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

The components of income tax expense for the three and nine months ended September 30, 2015 and 2014 are summarized as follows:

	Three months ended September 30,								Nine months ended September 30,
(Dollars in thousands)	2015				2014				2015				2014
Current year provision (benefit):
Federal	$	(104	)		$	0			$	(63	)		$	0
State	(1		)		24				7				24
	(105		)		24				(56		)		24
Deferred tax expense
Federal	561				1,520				1,538				2,348
State	6				14				16				24
	567				1,534				1,554				2,372
Change in valuation allowance on deferred taxes	0				(1,534		)		0				(2,372		)
Net income tax expense	$	462			$	24			$	1,498			$	24

Components of Net Deferred Tax Asset

The components of the net deferred tax asset, included in other assets, are as follows:

(Dollars in thousands)	September 30, 2015				December 31, 2014
Deferred tax assets:
Allowance for loan losses	$	4,940			$	5,424
Deferred compensation	528				528
Retirement plans and salary continuation	1,783				1,695
Share-based compensation	296				102
Off balance sheet reserves	212				205
Nonaccrual loan interest	419				210
Goodwill	131				154
Bonus accrual	293				396
Low income housing credit carryforward	1,570				1,322
Alternative minimum tax credit carryforward	1,415				1,291
Charitable contribution carryforward	211				209
Net operating loss carryforward	4,739				6,606
Other	147				237
Total deferred tax assets	16,684				18,379
Deferred tax liabilities:
Depreciation	797				955
Net unrealized gains on securities available for sale	1,727				848
Mortgage servicing rights	668				606
Purchase accounting adjustments	369				421
Other	181				174
Total deferred tax liabilities	3,742				3,004
Net deferred tax asset	$	12,942			$	15,375

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- References

No definition available.

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- 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://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 740



-SubTopic 10



-Section 50



-Paragraph 9



-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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- 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://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 740



-SubTopic 10



-Section 50



-Paragraph 2



-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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