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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The current and deferred components of the income tax provision for each of the three years ended December 31 are as follows:

(in thousands)	2016			2015			2014
Current tax provision
Federal	$	9,710		$	7,097		$	8,523
State	3,794			2,931			3,195
Total current	13,504			10,028			11,718
Deferred tax provision (benefit)
Federal	(206		)	382			(146		)
State	48			80			126
Total deferred	(158		)	462			(20		)
Total income tax provision	$	13,346		$	10,490		$	11,698

Schedule of Deferred Tax Assets and Liabilities

The following table shows the tax effect of our cumulative temporary differences as of December 31:

(in thousands)	2016			2015
Deferred tax assets:
Allowance for loan losses and off-balance sheet credit commitments	$	6,871		$	5,918
Net operating loss carryforwards	3,582			4,090
Net unrealized loss on securities available-for-sale	2,543			59
Deferred compensation plan and salary continuation plan	1,773			1,619
State franchise tax	1,300			1,005
Accrued but unpaid expenses	1,251			1,188
Fair value adjustment on acquired loans	799			1,197
Deferred rent and other lease incentives	547			595
Depreciation and disposals on premises and equipment	528			231
Other real estate owned	448			448
Stock-based compensation	398			273
Interest received on non-accrual loans	185			864
Other	196			381
Total gross deferred tax assets	20,421			17,868
Deferred tax liabilities:
Deferred loan origination costs and fees	(2,784		)	(2,567		)
Unaccreted discount on subordinated debentures	(1,119		)	(1,200		)
Core deposit intangible asset	(1,085		)	(1,309		)
Accretion on investment securities	(54		)	(55		)
Other	(42		)	(42		)
Total gross deferred tax liabilities	(5,084		)	(5,173		)
Net deferred tax assets	$	15,337		$	12,695

Schedule of Effective Income Tax Rate Reconciliation

The effective tax rate for 2016, 2015 and 2014 differs from the current federal statutory income tax rate as follows:

	2016		2015		2014
Federal statutory income tax rate	35.0	%	35.0	%	35.0	%
Increase (decrease) due to:
California franchise tax, net of federal tax benefit	6.8	%	6.8	%	6.8	%
Tax exempt interest on municipal securities and loans	(4.0	)%	(4.2	)%	(3.3	)%
Tax exempt earnings on bank owned life insurance	(0.8	)%	(1.0	)%	(0.9	)%
Low income housing and qualified zone academy bond tax credits	(0.3	)%	(0.2	)%	(0.1	)%
Other	(0.1	)%	(0.1	)%	(0.3	)%
Effective Tax Rate	36.6	%	36.3	%	37.2	%

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- References

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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=65882285&loc=d3e32639-109319

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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=65882285&loc=d3e32537-109319

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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=65882285&loc=d3e32687-109319

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