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INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

The following table summarizes income tax expense for the three and nine months ended September 30, 2017 and 2016.

	Three months ended September 30,								Nine months ended September 30,
(Dollars in thousands)	2017				2016				2017				2016
Current year expense (benefit):
Federal	$	888			$	1,066			$	1,090			$	1,192
State	4				8				(3		)		5
	892				1,074				1,087				1,197
Deferred expense (benefit):
Federal	(521		)		(948		)		214				(216		)
State	5				(1		)		15				10
	(516		)		(949		)		229				(206		)
Income tax expense	$	376			$	125			$	1,316			$	991

Components of Net Deferred Tax Asset

The following table presents the components of the net deferred tax asset, included in other assets on the consolidated balance sheets.

(Dollars in thousands)	September 30, 2017				December 31, 2016
Deferred tax assets:
Allowance for loan losses	$	4,726			$	4,725
Deferred compensation	553				545
Retirement plans and salary continuation	2,055				1,942
Share-based compensation	851				583
Off-balance sheet reserves	368				313
Nonaccrual loan interest	462				370
Net unrealized losses on securities available for sale	0				600
Goodwill	70				92
Bonus accrual	405				236
Low-income housing credit carryforward	2,231				1,983
Alternative minimum tax credit carryforward	5,343				4,048
Net operating loss carryforward	0				2,520
Other	602				479
Total deferred tax assets	17,666				18,436
Deferred tax liabilities:
Depreciation	786				771
Net unrealized gains on securities available for sale	815				0
Mortgage servicing rights	841				777
Purchase accounting adjustments	412				435
Other	198				195
Total deferred tax liabilities	3,052				2,178
Net deferred tax asset	$	14,614			$	16,258

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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=84230637&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=84230637&loc=d3e32537-109319

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