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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense Included in Consolidated Financial Statements | The income tax expense included in the consolidated financial statements for the years ended December 31 is allocated as follows:
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Federal: |  |  |  |  |  |  |  |  |  |  |  |
Current (benefit)/expense |  | $ | 5,647 |  |  | $ | (7,046 | ) |  | $ | 1,559 |
Deferred expense |  |  | 6,087 |  |  |  | 16,908 |  |  |  | 13,922 |
State: |  |  |  |  |  |  |  |  |  |  |  |
Current expense |  |  | 3,028 |  |  |  | 3,554 |  |  |  | 2,133 |
Deferred expense |  |  | 3,926 |  |  |  | 134 |  |  |  | 196 |
Total income tax expense |  | $ | 18,688 |  |  | $ | 13,550 |  |  | $ | 17,810 |
Schedule of Total Income Tax Expense Differed from Amounts Computed by Applying U.S. Federal Income Tax Rate to Income Before Taxes | Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 21 percent for both 2019 and 2018, respectively, and 35 percent for 2017, to income before taxes as a result of the following:
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Computed “expected” tax expense |  | $ | 13,886 |  |  | $ | 12,121 |  |  | $ | 19,008 |
(Decrease)/increase in taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt income |  |  | (431 | ) |  |  | (402 | ) |  |  | (584 | )
State income taxes, net of Federal benefit |  |  | 2,540 |  |  |  | 2,942 |  |  |  | 1,514 |
Impact of state tax reform, net of Federal benefit |  |  | 2,954 |  |  |  | — |  |  |  | — |
Bank owned life insurance income |  |  | (277 | ) |  |  | (290 | ) |  |  | (475 | )
Life insurance expense |  |  | 234 |  |  |  | 148 |  |  |  | 479 |
Gain on death benefit |  |  | — |  |  |  | (630 | ) |  |  | — |
Interest disallowance |  |  | 146 |  |  |  | 115 |  |  |  | 124 |
Meals and entertainment expense |  |  | 40 |  |  |  | 25 |  |  |  | 76 |
Stock-based compensation |  |  | (46 | ) |  |  | (481 | ) |  |  | (982 | )
Impact of Federal tax reform |  |  | — |  |  |  | — |  |  |  | (1,648 | )
Other |  |  | (358 | ) |  |  | 2 |  |  |  | 298 |
Total income tax expense |  | $ | 18,688 |  |  | $ | 13,550 |  |  | $ | 17,810 |
Schedule of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Deferred Tax 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) |  | 2019 |  |  | 2018 |
Deferred tax assets: |  |  |  |  |  |  |  |
Allowance for loan losses |  | $ | 11,369 |  |  | $ | 10,537 |
Tax net operating loss carryforward |  |  | 6,163 |  |  |  | 7,046 |
Organization costs |  |  | 13 |  |  |  | 13 |
Cash flow hedge |  |  | 925 |  |  |  | — |
Unrealized loss on securities available for sale |  |  | — |  |  |  | 969 |
Unrealized loss on equity security |  |  | 43 |  |  |  | 79 |
Stock plan |  |  | 2,874 |  |  |  | 1,534 |
Nonaccrual interest |  |  | 74 |  |  |  | 31 |
Accrued compensation |  |  | 2,956 |  |  |  | 189 |
Accrued expenses |  |  | 1,402 |  |  |  | — |
Lease liabilities |  |  | 3,234 |  |  |  | — |
Capital leases (2018)/Finance lease (2019) |  |  | 768 |  |  |  | 1,051 |
Other |  |  | 188 |  |  |  | — |
Total gross deferred tax assets |  | $ | 30,009 |  |  | $ | 21,449 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Lease financing |  | $ | 44,841 |  |  | $ | 33,191 |
Cash flow hedge |  |  | — |  |  |  | 265 |
Unrealized gain on securities available for sale |  |  | 330 |  |  |  | — |
Deferred loan origination costs and fees |  |  | 1,355 |  |  |  | 1,214 |
Deferred income |  |  | 5,329 |  |  |  | 2,693 |
Amortization of intangible assets |  |  | 239 |  |  |  | — |
Purchase accounting |  |  | 908 |  |  |  | — |
Lease right-of-use asset |  |  | 3,158 |  |  |  |  |
Other |  |  | — |  |  |  | 115 |
Total gross deferred tax liabilities |  |  | 56,160 |  |  |  | 37,478 |
Net deferred tax liability |  | $ | (26,151 | ) |  | $ | (16,029 | )

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