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Income Taxes | 12 Months Ended
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Dec. 31, 2020
Income Taxes |
Income Taxes | NOTE 21 Income Taxes The components of income tax expense (benefit) for the years ended December 31, 2020, 2019, and 2018 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended
​ | ​ | December 31,
(dollars in thousands) |  | 2020 |  | 2019 |  | 2018
Federal |  | ​ |  |  | ​ |  |  | ​ |
Current | ​ | $ | 14,541 | ​ | $ | 7,091 | ​ | $ | 5,801
Deferred | ​ |  | (3,615) | ​ |  | 267 | ​ |  | (49)
Federal income tax | ​ |  | 10,926 | ​ |  | 7,358 | ​ |  | 5,752
State | ​ |  |  | ​ |  |  | ​ |  |
Current | ​ |  | 3,736 | ​ |  | 1,926 | ​ |  | 1,265
Deferred | ​ |  | (819) | ​ |  | 72 | ​ |  | 155
State income tax | ​ |  | 2,917 | ​ |  | 1,998 | ​ |  | 1,420
Total income tax expense | ​ | $ | 13,843 | ​ | $ | 9,356 | ​ | $ | 7,172
​ The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2020 and 2019 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
(dollars in thousands) |  | 2020 |  | 2019
Deferred Tax Assets |  | ​ |  |  | ​ |
Allowance for loan losses | ​ | $ | 8,556 | ​ | $ | 5,893
Employee compensation and benefit accruals | ​ |  | 2,608 | ​ |  | 2,542
Expense accruals | ​ |  | 352 | ​ |  | 935
Identifiable intangible amortization | ​ |  | 3,388 | ​ |  | 3,369
Deferred loan fees | ​ |  | 1,204 | ​ |  | 266
Net operating loss carry forwards | ​ |  | 173 | ​ |  | 236
Nonaccrual loan interest | ​ |  | 62 | ​ |  | —
Other | ​ |  | 505 | ​ |  | 341
Total deferred tax assets from temporary differences | ​ |  | 16,848 | ​ |  | 13,582
Deferred Tax Liabilities | ​ |  |  | ​ |  |
Accumulated depreciation | ​ |  | 314 | ​ |  | 1,431
Goodwill and intangible amortization | ​ |  | 2,258 | ​ |  | 1,835
Servicing assets | ​ |  | 511 | ​ |  | 965
Prepaid expenses | ​ |  | 785 | ​ |  | 804
Unrealized loss on available‑for‑sale investment securities | ​ | ​ | 3,566 | ​ | ​ | 649
Other | ​ |  | 5 | ​ |  | 7
Total deferred tax liabilities from temporary differences | ​ |  | 7,439 | ​ |  | 5,691
Net Deferred Tax Assets | ​ | $ | 9,409 | ​ | $ | 7,891
​ The reconciliation between applicable income taxes and the amount computed at the applicable statutory Federal tax rate for years ending December 31, 2020, 2019, and 2018 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, | ​
​ | ​ | 2020 | ​ | ​ | 2019 | ​ | 2018 | ​
​ |  | ​ | ​ |  | Percent of |  |  | ​ | ​ |  | Percent of |  | ​ | ​ |  | Percent of |
(dollars in thousands) | ​ | Amount | ​ | Pretax Income |  | ​ | Amount | ​ | Pretax Income |  | Amount | ​ | Pretax Income |
Taxes at statutory federal income tax rate | ​ | $ | 12,289 |  | 21.0 | % | ​ | $ | 8,168 |  | 21.0 | % | $ | 6,938 |  | 21.0 | %
Tax effect of: | ​ |  |  |  |  | ​ | ​ |  |  |  |  | ​ |  | ​ |  |  | ​
Tax exempt income | ​ |  | (527) |  | (0.9) | % | ​ |  | (442) |  | (1.1) | % |  | (365) |  | (1.1) | %
State income taxes, net of federal benefits | ​ |  | 2,522 |  | 4.3 | ​ | ​ |  | 1,618 |  | 4.2 | ​ |  | 1,399 |  | 4.2 | ​
Nondeductible items and other | ​ | ​ | (441) | ​ | (0.8) | ​ | ​ | ​ | 12 | ​ | — | ​ | ​ | (800) | ​ | (2.4) | ​
Applicable income taxes | ​ | $ | 13,843 |  | 23.6 | % | ​ | $ | 9,356 |  | 24.1 | % | $ | 7,172 |  | 21.7 | %
​ It is the opinion of management that the Company has no significant uncertain tax positions that would be subject to change upon examination.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 + Details
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