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INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2016

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

The components of income tax expense for the three months ended March 31, 2016 and 2015 are summarized as follows:

	Three months ended March 31,
(Dollars in thousands)	2016				2015
Current year provision (benefit):
Federal	$	(112	)		$	(15	)
State	(2		)		4
	(114		)		(11		)
Deferred tax expense
Federal	722				720
State	6				6
	728				726
Net income tax expense	$	614			$	715

Components of Net Deferred Tax Asset

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

(Dollars in thousands)	March 31, 2016				December 31, 2015
Deferred tax assets:
Allowance for loan losses	$	5,078			$	5,111
Deferred compensation	546				547
Retirement plans and salary continuation	1,865				1,824
Share-based compensation	417				343
Off balance sheet reserves	224				218
Nonaccrual loan interest	315				246
Goodwill	116				124
Bonus accrual	69				359
Low income housing credit carryforward	1,735				1,652
Alternative minimum tax credit carryforward	2,262				2,195
Charitable contribution carryforward	69				211
Net operating loss carryforward	3,798				4,431
Other	190				182
Total deferred tax assets	16,684				17,443
Deferred tax liabilities:
Depreciation	771				815
Net unrealized gains on securities available for sale	2,387				646
Mortgage servicing rights	699				669
Purchase accounting adjustments	336				352
Other	180				181
Total deferred tax liabilities	4,373				2,663
Net deferred tax asset	$	12,311			$	14,780

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- References

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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=65882285&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=65882285&loc=d3e32537-109319

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