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Income taxes (Tables)
12 Months Ended
Dec. 31, 2020
Income taxes  
Schedule of current and deferred amounts of the provision for income taxes expense (benefit0

Year Ended December 31

    

2020

    

2019

    

2018

 

Current

$

6,600

$

2,761

$

4,072

Deferred

 

(1,779)

 

394

 

(681)

Total

$

4,821

$

3,155

$

3,391

Schedule of the components of the net deferred tax asset

December 31

    

2020

    

2019

 

Deferred tax assets:

Allowance for loan losses

$

5,742

$

4,762

Lease liability

1,349

1,301

Defined benefit plan

 

1,108

 

815

Deferred compensation

 

789

 

682

Deferred loan fees

 

1,368

 

525

Other

 

170

 

137

Total

 

10,526

 

8,222

Deferred tax liabilities:

Lease right-of-use assets

1,319

1,286

Premises and equipment, net

 

1,455

 

1,350

Merger related accounting

 

694

850

Deferred loan costs

936

716

Investment securities available-for-sale

 

2,033

 

416

Other

 

321

 

242

Total

 

6,758

 

4,860

Net deferred tax asset

$

3,768

$

3,362

Schedule of the reconciliation between the amount of the effective income tax expense and the income tax expense that would have been provided at the federal statutory rate

2020

2019

2018

Year Ended December 31

    

Amount

    

%

    

Amount

    

%

    

Amount

%

 

Federal income tax at statutory rate

$

7,177

21.00

%

$

6,067

21.00

%

$

5,945

21.00

%

Effect of federal income tax rate changes (Note 1)

Tax exempt interest

 

(1,032)

(3.02)

 

(1,299)

(4.50)

 

(1,320)

(4.66)

Bank owned life insurance income

 

(299)

(0.87)

 

(159)

(0.55)

 

(236)

(0.83)

Residential housing program tax credits

 

(1,094)

(3.20)

(1,094)

(3.79)

(1,094)

(3.87)

Other, net

 

69

0.19

 

(360)

(1.25)

 

96

0.34

Total

$

4,821

14.10

%

$

3,155

10.91

%

$

3,391

11.98

%