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Income Taxes - (As Restated) (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Taxes - (As Restated) [Abstract] |
Schedule of Components of Income Tax Expense | The provision for income taxes consists of the following for the years ended December 31, 2015 and 2014: ﻿
﻿ |  |  |  |
﻿ |  |  |  |
﻿(In thousands) |  | 2015 |  | 2014
﻿Current Tax expense: |  |  |  |
﻿ Federal | $ | 585 | $ | 551
﻿ State |  | 627 |  | 84
﻿ | $ | 1,212 | $ | 635
﻿Deferred tax expense: |  |  |  |
﻿ Federal | $ | 4,715 | $ | 334
﻿ State |  | 546 |  | 302
﻿ | $ | 5,261 | $ | 636
﻿Income tax expense for the year | $ | 6,473 | $ | 1,271
﻿
Reconciliation of Federal Income Tax Rate to Effective Income Tax Rate | The reconciliation between the statutory federal income tax rate and effective income tax rate for the years ended December 31, 2015 and 2014 is as follows:
﻿ |  |
﻿ |  |
﻿ | 2015 | 2014
﻿Federal statutory rate | 35.0% | 35.0%
﻿Tax-exempt income on securities and loans | (2.4) | (8.2)
﻿Tax-exempt BOLI income | (2.1) | (7.1)
﻿State income tax, net of federal tax benefit | 4.9 | 5.2
﻿Tax credits | (2.4) | (7.1)
﻿Other | 0.2 | 0.6
﻿ | 33.2% | 18.4%
﻿
Components of Deferred Tax Assets and Liabilities | Significant components of the Corporation’s temporary differences as of December 31, 2015 and 2014 are as follows:
﻿ |  |  |  |
﻿ |  |  |  |
﻿(In thousands) |  | 2015 |  | 2014
﻿Deferred tax assets: |  |  |  |
﻿ Allowance for loan losses | $ | 4,760 | $ | 4,811
﻿ Deferred loan fees |  | 137 |  | 58
﻿ Deferred compensation |  | 901 |  | 800
﻿ Federal and state tax loss carry forwards |  | 4,165 |  | 6,069
﻿ AMT and other carry forwards |  | 4,304 |  | 3,462
﻿ Unrealized loss on investment securities |  | 4,039 |  | 5,735
﻿ Pension/SERP |  | 2,598 |  | 2,476
﻿ Other than temporary impairment on investment securities |  | 1,251 |  | 5,100
﻿ Other real estate owned |  | 1,769 |  | 1,388
﻿ Other |  | 1,481 |  | 1,352
﻿ Total deferred tax assets |  | 25,405 |  | 31,251
﻿ Valuation allowance |  | (1,794) |  | (1,658)
﻿ Total deferred tax assets less valuation allowance |  | 23,611 |  | 29,593
﻿Deferred tax liabilities: |  |  |  |
﻿ Amortization of goodwill |  | (2,986) |  | (2,495)
﻿ Depreciation |  | (653) |  | (831)
﻿ Other |  | (182) |  | (360)
﻿ Total deferred tax liabilities |  | (3,821) |  | (3,686)
﻿Net deferred tax assets | $ | 19,790 | $ | 25,907
﻿

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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=6907707&loc=d3e32639-109319 + Details
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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=6907707&loc=d3e32537-109319 + Details
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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=6907707&loc=d3e32687-109319 + Details
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