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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The provision for income taxes is summarized below:
Current Tax Expense: | 2019 |  | 2018 |  | 2017
Federal | $ | 7,706 |  |  | $ | 7,668 |  |  | $ | 11,142 |
State | 1,550 |  |  | 1,450 |  |  | 917 |
Total Current Tax Expense | 9,256 |  |  | 9,118 |  |  | 12,059 |
Deferred Tax Expense (Benefit): |  |  |  |  |
Federal | 427 |  |  | (40 | ) |  | (1,453 | )
State | (83 | ) |  | (52 | ) |  | (77 | )
Total Deferred Tax Expense (Benefit) | 344 |  |  | (92 | ) |  | (1,530 | )
Total Provision for Income Taxes | $ | 9,600 |  |  | $ | 9,026 |  |  | $ | 10,529 |
Schedule of Effective Income Tax Rate Reconciliation | The provisions for income taxes differed from the amounts computed by applying the U.S. Federal Income Tax Rate, 21% for 2019 and 2018 and 35% for 2017, to pre-tax income as a result of the following:
| 2019 |  | 2018 |  | 2017
Statutory Federal Tax Rate | 21.0 | % |  | 21.0 | % |  | 35.0 | %
Increase (Decrease) Resulting From: |  |  |  |  |
Tax Cuts and Jobs Act impact on deferred remeasurement | — |  |  | — |  |  | (2.8 | )
Tax-Exempt Income | (2.7 | ) |  | (3.1 | ) |  | (6.4 | )
Nondeductible Interest Expense | 0.2 |  |  | 0.1 |  |  | 0.1 |
State Taxes, Net of Federal Income Tax Benefit | 2.3 |  |  | 2.4 |  |  | 1.8 |
Tax benefit from stock based compensation | (0.3 | ) |  | (0.4 | ) |  | (0.3 | )
Other Items, Net | (0.1 | ) |  | (0.1 | ) |  | (1.0 | )
Effective Tax Rate | 20.4 | % |  | 19.9 | % |  | 26.4 | %
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 at December 31, 2019 and 2018 are presented below:
| 2019 |  | 2018
Deferred Tax Assets: |  |  |
Allowance for Loan Losses | $ | 5,383 |  |  | $ | 5,131 |
Lease liabilities | 2,787 |  |  | — |
Pension and Deferred Compensation Plans | 2,923 |  |  | 2,764 |
Pension Liability Included in Accumulated Other Comprehensive Income | 2,329 |  |  | 3,450 |
Other | 352 |  |  | 342 |
Net Unrealized Losses on Securities Available-for-Sale Included in Accumulated Other Comprehensive Income | — |  |  | 1,259 |
Total Gross Deferred Tax Assets | 13,774 |  |  | 12,946 |
Valuation Allowance for Deferred Tax Assets | — |  |  | — |
Total Gross Deferred Tax Assets, Net of Valuation Allowance | $ | 13,774 |  |  | $ | 12,946 |
Deferred Tax Liabilities: |  |  |
Pension Plans | $ | 5,270 |  |  | $ | 5,502 |
Depreciation | 1,943 |  |  | 1,149 |
ROU assets | 2,748 |  |  | — |
Deferred Income | 3,215 |  |  | 3,003 |
Net Unrealized Gains on Equity Securities | 240 |  |  | 166 |
Net Unrealized Gains on Securities Available-for-Sale Included in Accumulated Other Comprehensive Income | 160 |  |  | — |
Goodwill | 3,502 |  |  | 3,546 |
Total Gross Deferred Tax Liabilities | $ | 17,078 |  |  | $ | 13,366 |
Deferred Tax Liability, Net | $ | 3,304 |  |  | $ | 420 |

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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://fasb.org/us-gaap/role/ref/legacyRef -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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