XML 67 R39.htm IDEA: XBRL DOCUMENT
v3.3.1.900

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Components of Income Tax Expense Attributable to Income from Operations | For the years ended December 31, 2015, 2014 and 2013, income tax expense attributable to income from operations consisted of the following (in thousands):
Current: | 2015 |  | 2014 |  | 2013
State | $ | 216 |  |  | $ | 606 |  |  | $ | 395 |
Federal | 3,668 |  |  | 5,366 |  |  | 3,548 |
Total current | 3,884 |  |  | 5,972 |  |  | 3,943 |
Deferred expense/(benefit) | 774 |  |  | (2,263 | ) |  | (121 | )
Income tax expense | $ | 4,658 |  |  | $ | 3,709 |  |  | $ | 3,822 |
Reconciliation of Income Tax Expense | Income tax expense differed from the amounts computed by applying the U.S. Federal statutory income tax rate to income before income tax expense as follows (in thousands):
| 2015 |  | 2014 |  | 2013
Tax computed at statutory rate | $ | 4,791 |  |  | $ | 4,034 |  |  | $ | 4,268 |
Tax-exempt interest | (441 | ) |  | (456 | ) |  | (483 | )
Dividend exclusion | (41 | ) |  | (60 | ) |  | (46 | )
State taxes, net of Federal impact | 238 |  |  | 227 |  |  | 188 |
Nondeductible interest expense | 8 |  |  | 8 |  |  | 11 |
Other items, net | 103 |  |  | (44 | ) |  | (116 | )
Income tax expense | $ | 4,658 |  |  | $ | 3,709 |  |  | $ | 3,822 |
Deferred Tax Assets and Deferred Tax 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, 2015 and 2014, are presented below (in thousands):
| 2015 |  | 2014
Deferred tax assets: |  |  |
Allowance for loan losses | $ | 5,385 |  |  | $ | 5,182 |
Accrual for employee benefit plans | 597 |  |  | 709 |
Depreciation | 1,553 |  |  | 1,010 |
Deferred compensation and directors' fees | 1,136 |  |  | 1,076 |
Purchase accounting adjustment – deposits | 37 |  |  | 65 |
Purchase accounting adjustment – loans | 130 |  |  | 259 |
Purchase accounting adjustment - fixed assets | 221 |  |  | 221 |
Accounting for defined benefit pension and other benefit plans | 6,975 |  |  | 6,624 |
Trust preferred impairment write down | — |  |  | 540 |
Nonaccrued interest | 868 |  |  | 617 |
Accrued expense | — |  |  | 1,580 |
Other | 288 |  |  | 456 |
Total gross deferred tax assets | 17,190 |  |  | 18,339 |
Deferred tax liabilities: |  |  |
Deferred loan fees and costs | 933 |  |  | 910 |
Prepaid pension | 4,609 |  |  | 5,179 |
Net unrealized gains on securities available for sale | 130 |  |  | 1,359 |
Discount accretion | 427 |  |  | 410 |
Core deposit intangible | 1,437 |  |  | 1,479 |
Other | 149 |  |  | 153 |
Total gross deferred tax liabilities | 7,685 |  |  | 9,490 |
Net deferred tax asset | $ | 9,505 |  |  | $ | 8,849 |

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=6907707&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=6907707&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=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration