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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes [Abstract]

Summary of components of income tax expense

	For the years ended December 31,
(dollars in thousands)		2017			2016		2015
Current income taxes:
Federal		$	7,139		6,429		6,184
State			573		548		441
Total current tax expense			7,712		6,977		6,625
Deferred income tax expense (benefit)			2,904		356		(1,256	)
Income tax expense		$	10,616		7,333		5,369

Summary of taxes computed using the statutory tax rate

	For the years ended December 31,
(dollars in thousands)		2017				2016			2015
Tax expense at statutory rate		$	8,281			7,129			5,438
Effect of state income taxes, net of federal benefit			372			356			287
Exempt income			(146	)		(162	)		(151	)
Effect of change in federal tax rate			2,441			-			-
Other			(332	)		10			(205	)
Income tax expense		$	10,616			7,333			5,369

Summary of components of the deferred tax assets and liabilities

	December 31,
(dollars in thousands)		2017			2016
Deferred tax assets:
Allowance for loan losses		$	3,260		5,199
Unrealized loss on securities available for sale			121		260
Net deferred loan fees			480		691
Deferred compensation			1,124		1,597
Sale of real estate owned			104		262
Accrued expenses			16		401
Other			136		250
			5,241		8,660
Deferred tax liabilities:
Property and equipment			1,208		1,467
Hedging transactions			88		-
Other			163		368
			1,459		1,835
Net deferred tax asset		$	3,782		6,825

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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=84230637&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=84230637&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=84230637&loc=d3e32687-109319

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