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INCOME TAXES (Tables) | 6 Months Ended
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Jun. 30, 2019
Income Tax Disclosure [Abstract] |
Summary of Income Tax Expense | The following table summarizes income tax expense for the three and six months ended June 30, 2019 and 2018.
| Three months ended June 30, |  |  |  | Six months ended June 30, |  |
(Dollars in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Current expense | $ | 69 |  | $ | 125 |  | $ | 90 |  | $ | 348
Deferred expense | 41 |  | 249 |  | 252 |  | 518
Income tax expense | $ | 110 |  | $ | 374 |  | $ | 342 |  | $ | 866
Summary of Deferred Tax Assets and Liabilities | The following table summarizes deferred tax assets and liabilities at June 30, 2019 and December 31, 2018.
(Dollars in thousands) | June 30, 2019 |  | December 31, 2018
Deferred tax assets: |  |  |
Allowance for loan losses | $ | 3,392 |  | $ | 3,143
Deferred compensation | 755 |  | 723
Retirement and salary continuation plans | 1,956 |  | 1,416
Share-based compensation | 832 |  | 742
Off-balance sheet reserves | 265 |  | 219
Nonaccrual loan interest | 839 |  | 537
Net unrealized losses on AFS securities | 0 |  | 791
Purchase accounting adjustments | 4,571 |  | 1,795
Bonus accrual | 216 |  | 470
Low-income housing credit carryforward | 496 |  | 641
Net operating loss carryovers | 1,859 |  | 0
Other | 1,288 |  | 321
Total deferred tax assets | 16,469 |  | 10,798
Deferred tax liabilities: |  |  |
Depreciation | 433 |  | 458
Net unrealized gains on AFS securities | 906 |  | 0
Mortgage servicing rights | 674 |  | 590
Purchase accounting adjustments | 1,765 |  | 1,021
Other | 231 |  | 150
Total deferred tax liabilities | 4,009 |  | 2,219
Net deferred tax asset, included in Other Assets | $ | 12,460 |  | $ | 8,579

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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://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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