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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Summary of Income Tax Expense (Benefit)

The following table summarizes income tax expense (benefit) for years ended December 31.

(Dollars in thousands)	2016				2015				2014
Current expense:
Federal	$	1,499			$	844			$	81
State	(1		)		(7		)		10
	1,498				837				91
Deferred expense (benefit):
Federal	(249		)		779				2,723
State	17				18				18
	(232		)		797				2,741
Change in valuation allowance on deferred taxes	0				0				(18,964		)
Income tax expense (benefit)	$	1,266			$	1,634			$	(16,132	)

Reconciliation of Effective Income Tax Rate to Statutory Federal Rate

The following table reconciles the effective income tax rate to the statutory federal rate for years ended December 31.

	2016			2015			2014
Statutory federal tax rate	34.0	%		35.0	%		35.0	%
Increase (decrease) resulting from:
State taxes, net of federal benefit	0.1	%		0.1	%		0.1	%
Tax exempt interest income	(16.0	)%		(11.3	)%		(7.3	)%
Valuation allowance on deferred tax assets	0.0	%		0.0	%		(145.8	)%
Earnings from life insurance	(4.7	)%		(3.8	)%		(2.6	)%
Disallowed interest expense	1.0	%		0.4	%		0.2	%
Low-income housing credits and related expense	(7.2	)%		(5.0	)%		(3.7	)%
Regulatory settlement	4.3	%		0.0	%		0.0	%
Change in statutory federal tax rate	2.3	%		0.0	%		0.0	%
Other	2.2	%		1.8	%		0.1	%
Effective income tax rate	16.0	%		17.2	%		(124.0	)%

Summary of Deferred Tax Assets and Liabilities

The following table summarizes deferred tax assets and liabilities at December 31.

(Dollars in thousands)	2016				2015
Deferred tax assets:
Allowance for loan losses	$	4,725			$	5,111
Deferred compensation	545				547
Retirement plans and salary continuation	1,942				1,824
Share-based compensation	583				343
Off-balance sheet reserves	313				218
Nonaccrual loan interest	370				246
Net unrealized losses on securities available for sale	600				0
Goodwill	92				124
Bonus accrual	236				359
Low-income housing credit carryforward	1,983				1,652
Alternative minimum tax credit carryforward	4,048				2,195
Charitable contribution carryforward	50				211
Net operating loss carryforward	2,520				4,431
Other	429				182
Total deferred tax assets	18,436				17,443
Deferred tax liabilities:
Depreciation	771				815
Net unrealized gains on securities available for sale	0				646
Mortgage servicing rights	777				669
Purchase accounting adjustments	435				352
Other	195				181
Total deferred tax liabilities	2,178				2,663
Net deferred tax asset, included in Other Assets	$	16,258			$	14,780

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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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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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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

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