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INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

The components of income tax expense for the three and six months ended June 30, 2016 and 2015 are summarized as follows:

	Three months ended June 30,								Six months ended June 30,
(Dollars in thousands)	2016				2015				2016				2015
Current year provision (benefit):
Federal	$	238			$	56			$	126			$	41
State	(1		)		4				(3		)		8
	237				60				123				49
Deferred tax expense
Federal	10				257				732				977
State	5				4				11				10
	15				261				743				987
Net income tax expense	$	252			$	321			$	866			$	1,036

Components of Net Deferred Tax Asset

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

(Dollars in thousands)	June 30, 2016				December 31, 2015
Deferred tax assets:
Allowance for loan losses	$	5,084			$	5,111
Deferred compensation	544				547
Retirement plans and salary continuation	1,905				1,824
Share-based compensation	439				343
Off balance sheet reserves	275				218
Nonaccrual loan interest	369				246
Goodwill	109				124
Bonus accrual	117				359
Low income housing credit carryforward	1,818				1,652
Alternative minimum tax credit carryforward	2,462				2,195
Charitable contribution carryforward	69				211
Net operating loss carryforward	3,193				4,431
Other	272				182
Total deferred tax assets	16,656				17,443
Deferred tax liabilities:
Depreciation	744				815
Net unrealized gains on securities available for sale	3,996				646
Mortgage servicing rights	711				669
Purchase accounting adjustments	329				352
Other	189				181
Total deferred tax liabilities	5,969				2,663
Net deferred tax asset	$	10,687			$	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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