XML 53 R39.htm IDEA: XBRL DOCUMENT
v3.8.0.1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
INCOME TAXES [Abstract] |
Provision for income taxes | The provision for income taxes consists of the following (in thousands):
|  | Year Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Currently payable |  | $ | 4,583 |  |  | $ | 2,672 |  |  | $ | 2,913 |
Change in corporate tax rate |  |  | 1,531 |  |  |  | - |  |  |  | - |
Deferred tax |  |  | (83 | ) |  |  | 362 |  |  |  | (192 | )
Provision for income taxes |  | $ | 6,031 |  |  | $ | 3,034 |  |  | $ | 2,721 |
Deferred tax assets and liabilities | The following temporary differences gave rise to the net deferred tax asset and liabilities at December 31, 2017 and 2016, respectively (in thousands):
|  | 2017 |  |  | 2016 |
Deferred tax assets: |  |  |  |  |  |
Allowance for loan losses |  | $ | 3,058 |  |  | $ | 4,518 |
Deferred compensation |  |  | 464 |  |  |  | 757 |
Merger & acquisition costs |  |  | 7 |  |  |  | 16 |
Allowance for losses on available-for-sale securities |  |  | 6 |  |  |  | 250 |
Pension and other retirement obligation |  |  | 297 |  |  |  | 1,454 |
Interest on non-accrual loans |  |  | 917 |  |  |  | 1,259 |
Incentive plan accruals |  |  | 324 |  |  |  | 421 |
Other real estate owned |  |  | 108 |  |  |  | 152 |
Unrealized losses on available-for-sale securities |  |  | 71 |  |  |  | - |
Low income housing tax credits |  |  | 64 |  |  |  | 94 |
NOL carry forward |  |  | 339 |  |  |  | 709 |
AMT Credit Carryforward |  |  | 8 |  |  |  | 8 |
Other |  |  | 117 |  |  |  | 156 |
Total |  | $ | 5,780 |  |  | $ | 9,794 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Premises and equipment |  | $ | (623 | ) |  | $ | (998 | )
Investment securities accretion |  |  | (66 | ) |  |  | (189 | )
Loan fees and costs |  |  | (257 | ) |  |  | (369 | )
Goodwill and core deposit intangibles |  |  | (2,200 | ) |  |  | (3,573 | )
Mortgage servicing rights |  |  | (146 | ) |  |  | (233 | )
Unrealized gains on available-for-sale securities |  |  | - |  |  |  | (673 | )
Other |  |  | (7 | ) |  |  | (17 | )
Total |  |  | (3,299 | ) |  |  | (6,052 | )
Deferred tax asset, net |  | $ | 2,481 |  |  | $ | 3,742 |
Reconciliation of statutory tax rates to effective tax rates |
|  | Year Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Provision at statutory rates on |  |  |  |  |  |  |  |  |
pre-tax income |  | $ | 6,505 |  |  | $ | 5,328 |  |  | $ | 4,878 |
Effect of tax-exempt income |  |  | (1,710 | ) |  |  | (1,943 | ) |  |  | (1,915 | )
Low income housing tax credits |  |  | (141 | ) |  |  | (198 | ) |  |  | (198 | )
Bank owned life insurance |  |  | (225 | ) |  |  | (234 | ) |  |  | (214 | )
Nondeductible interest |  |  | 54 |  |  |  | 55 |  |  |  | 61 |
Nondeductible merger and acquisition expenses |  |  | - |  |  |  | - |  |  |  | 102 |
Change in tax rate |  |  | 1,531 |  |  |  | - |  |  |  | - |
Other items |  |  | 17 |  |  |  | 26 |  |  |  | 7 |
Provision for income taxes |  | $ | 6,031 |  |  | $ | 3,034 |  |  | $ | 2,721 |
Statutory tax rates |  |  | 34 | % |  |  | 34 | % |  |  | 34 | %
Effective tax rates |  |  | 31.6 | % |  |  | 19.4 | % |  |  | 19.0 | %

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration