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Income Taxes | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Income Taxes | NOTE 14 - INCOME TAXES Income taxes were as follows for the years ended December 31:
|  | 2016 |  |  | 2015 |  |  | 2014 |
Current |  | $ | 6,449 |  |  | $ | 5,191 |  |  | $ | 3,151 |
Deferred |  |  | 170 |  |  |  | (410 | ) |  |  | 11 |
Income taxes |  | $ | 6,619 |  |  | $ | 4,781 |  |  | $ | 3,162 |
Effective tax rates differ from the statutory federal income tax rate of 35% in 2016 and 34% in 2015 and 2014 due to the following:
|  | 2016 |  |  | 2015 |  |  | 2014 |
Income taxes computed at the statutory federal tax rate |  | $ | 8,343 |  |  | $ | 5,959 |  |  | $ | 4,315 |
Add (subtract) tax effect of: |  |  |  |  |  |  |  |  |  |  |  |
Nontaxable interest income, net of nondeductible interest expense |  |  | (946 | ) |  |  | (900 | ) |  |  | (824 | )
Low income housing tax credit |  |  | (435 | ) |  |  | (303 | ) |  |  | (303 | )
Cash surrender value of BOLI |  |  | (197 | ) |  |  | (159 | ) |  |  | (167 | )
Other |  |  | (146 | ) |  |  | 184 |  |  |  | 141 |
Income tax expense |  | $ | 6,619 |  |  | $ | 4,781 |  |  | $ | 3,162 |
There were no tax benefits attributable to security losses in 2016, 2015 and 2014, respectively. Year-end deferred tax assets and liabilities were due to the following:
|  | 2016 |  |  | 2015 |
Deferred tax assets |  |  |  |  |  |  |  |
Allowance for loan losses |  | $ | 4,640 |  |  | $ | 5,005 |
Deferred compensation |  |  | 1,762 |  |  |  | 1,617 |
Intangible assets |  |  | 187 |  |  |  | 224 |
Pension costs |  |  | 277 |  |  |  | 232 |
Other |  |  | 102 |  |  |  | 99 |
Deferred tax asset |  |  | 6,968 |  |  |  | 7,177 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Tax depreciation in excess of book depreciation |  |  | (97 | ) |  |  | (95 | )
Discount accretion on securities |  |  | (58 | ) |  |  | (59 | )
Purchase accounting adjustments |  |  | (1,091 | ) |  |  | (1,340 | )
FHLB stock dividends |  |  | (1,705 | ) |  |  | (1,705 | )
Unrealized gain on securities available for sale |  |  | (1,035 | ) |  |  | (1,831 | )
Other |  |  | (256 | ) |  |  | (200 | )
Deferred tax liability |  |  | (4,242 | ) |  |  | (5,230 | )
Net deferred tax asset |  | $ | 2,726 |  |  | $ | 1,947 |
No valuation allowance was established at December 31, 2016 and 2015, due to the Company’s ability to carryback to taxes paid in previous years and certain tax strategies, coupled with the anticipated future income as evidenced by the Company’s earning potential. The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of the State of Ohio for all affiliates other than Civista. Civista is subject to tax in Ohio based upon its net worth. There is currently no liability for uncertain tax positions and no known unrecognized tax benefits. The Company’s federal tax returns for taxable years through 2012 have been closed for purposes of examination by the Internal Revenue Service.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: 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=65882285&loc=d3e32639-109319 Reference 5: 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=65882285&loc=d3e32537-109319 + Details
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