XML 55 R39.htm IDEA: XBRL DOCUMENT v3.3.1.900

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

			For the Years Ended December 31,
(In thousands)			2015				2014				2013
Current:
Federal			$	6,825			$	7,189			$	6,729
State				1,290				1,191				448
Deferred:
Federal				(84	)			(585	)			39
State				(53	)			(36	)			18
Total income tax expense			$	7,978			$	7,759			$	7,234

Schedule of Reconciliation of Expected Income Tax Expense (Benefit)

		For the Years Ended December 31,
(In thousands)		2015				2014				2013
Expected income tax expense		$	10,862			$	11,127			$	10,756
(Reductions) increases resulting from:
Tax-exempt income			(3,704	)			(3,896	)			(3,297	)
State taxes, net of federal benefit			804				751				303
Other, net			16				(223	)			(528)
Total income tax expense		$	7,978			$	7,759			$	7,234

Schedule of Deferred Assets and Liabilities

		December 31,
(In thousands)		2015				2014
Deferred tax assets:
Allowance for loan losses		$	4,251			$	4,441
ASC 715 pension funding liability			8,438				10,887
Net operating loss carryforward1			212				255
Supplemental executive retirement plan accrual			1,690				1,392
Other			553				509
Total deferred tax assets		$	15,144			$	17,484
Deferred tax liabilities:
Premises and equipment			(2,081	)			(976	)
Pension			(4,181	)			(5,636	)
Stock compensation			(510	)			(394)
Intangible/assets			(1,314	)			(1,153	)
Unrealized gain on investment in securities available-for-sale			(4,658	)			(5,172	)
Other			(452	)			(407	)
Total deferred tax liabilities		$	(13,196	)		$	(13,738	)
Net deferred tax assets		$	1,948			$	3,746

¹ As of December 31, 2015, the Company had approximately $606,000 of net operating loss carry forwards as a result of the acquisition of Franklin Bancorp. The utilization of the net operating loss carry forward is subject to Section 382 of the Internal Revenue Code and limits the Company's use to approximately $122,000 per year during the carry forward period, which expires in 2020.

Schedule of the Reconciliation of Unrecognized Tax Benefits

(In thousands)		2015				2014				2013
Balance at January 1		$	1,117			$	1,208			$	1,885
Changes in unrecognized tax benefits as a result of tax
positions taken during a prior year			10				(107	)			(666	)
Changes in unrecognized tax benefits as a result of tax
position taken during the current year			277				267				374
Decreases in unrecognized tax benefits relating to
settlements with taxing authorities			—				—				—
Reductions to unrecognized tax benefits as a result of a
lapse of the applicable statute of limitations			(210	)			(251	)			(385	)
Balance at December 31		$	1,194			$	1,117			$	1,208

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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=6907707&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=6907707&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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=6907707&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=51663037&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration