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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Schedule of income tax expense | The income tax expense included in the consolidated financial statements for the years ended December 31 is allocated as follows:
(In thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Federal: |  |  |  |  |  |  |  |  |  |  |  |
Current expense/(benefit) |  | $ | 1,559 |  |  | $ | 13,207 |  |  | $ | 13,035 |
Deferred expense/(benefit) |  |  | 13,922 |  |  |  | 486 |  |  |  | (3,210 | )
State: |  |  |  |  |  |  |  |  |  |  |  |
Current expense/(benefit) |  |  | 2,133 |  |  |  | 2,105 |  |  |  | 3,176 |
Deferred expense/(benefit) |  |  | 196 |  |  |  | 466 |  |  |  | (833 | )
Total income tax expense |  | $ | 17,810 |  |  | $ | 16,264 |  |  | $ | 12,168 |
Schedule of income tax reconciliation | Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 35 percent to income before taxes as a result of the following:
(In thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Computed “expected” tax expense |  | $ | 19,008 |  |  | $ | 14,959 |  |  | $ | 11,249 |
(Decrease)/increase in taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt income |  |  | (584 | ) |  |  | (496 | ) |  |  | (316 | )
State income taxes |  |  | 1,514 |  |  |  | 1,671 |  |  |  | 1,523 |
Bank owned life insurance income |  |  | (475 | ) |  |  | (492 | ) |  |  | (454 | )
Life insurance expense |  |  | 479 |  |  |  | 297 |  |  |  | 175 |
Interest disallowance |  |  | 124 |  |  |  | 95 |  |  |  | 40 |
Meals and entertainment expense |  |  | 76 |  |  |  | 77 |  |  |  | 69 |
Stock-based compensation |  |  | (982 | ) |  |  | 15 |  |  |  | 86 |
Rate adjustment |  |  | — |  |  |  | — |  |  |  | (70 | )
Tax reform impact |  |  | (1,648 | ) |  |  | — |  |  |  | — |
Other |  |  | 298 |  |  |  | 138 |  |  |  | (134 | )
Total income tax expense |  | $ | 17,810 |  |  | $ | 16,264 |  |  | $ | 12,168 |
Schedule of deferred tax assets and liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31 are as follows:
(In thousands) |  | 2017 |  |  | 2016 |
Deferred tax assets: |  |  |  |  |  |  |  |
Allowance for loan losses |  | $ | 9,972 |  |  | $ | 12,969 |
Lease adjustment |  |  | 49 |  |  |  | 89 |
Post-retirement benefits |  |  | 297 |  |  |  | 443 |
Prepaid alternative minimum assessment |  |  | — |  |  |  | 283 |
Contribution limitation |  |  | — |  |  |  | 235 |
Organization costs |  |  | 14 |  |  |  | 22 |
Cash flow hedge |  |  | — |  |  |  | 304 |
Unrealized loss on securities available for sale |  |  | 714 |  |  |  | 668 |
Stock option expense |  |  | 118 |  |  |  | 387 |
Nonaccrual interest |  |  | 31 |  |  |  | 25 |
Accrued compensation |  |  | 900 |  |  |  | 1,993 |
Capital leases |  |  | 774 |  |  |  | 1,075 |
Total gross deferred tax assets |  | $ | 12,869 |  |  | $ | 18,493 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Depreciation |  | $ | 10,091 |  |  | $ | 800 |
Cash flow hedge |  |  | 392 |  |  |  | — |
Deferred loan origination costs and fees |  |  | 1,072 |  |  |  | 1,535 |
Deferred income |  |  | 729 |  |  |  | 790 |
Investment securities, principally due to the accretion of bond discount |  |  | 13 |  |  |  | 4 |
Other |  |  | 20 |  |  |  | 44 |
Total gross deferred tax liabilities |  |  | 12,317 |  |  |  | 3,173 |
Net deferred tax asset |  | $ | 552 |  |  | $ | 15,320 |

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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 + 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://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 + Details
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- 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=84230637&loc=d3e32687-109319 + Details
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