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Income Taxes | 12 Months Ended
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Dec. 31, 2011
Income Taxes [Abstract] |
Income Tax Disclosure | Note 10: Income Taxes The Company files United States federal income tax returns, and Virginia and West Virginia state income tax returns. With few exceptions, the Company is no longer subject to U.S. federal, state and local income tax examinations by tax authorities for years prior to 2008. 63 Allocation of income tax expense between current and deferred portions is as follows:
| Years ended December 31, |
| 2011 |  | 2010 |  | 2009 |
Current |  | $ | 4,665 |  |  | $ | 3,660 |  |  | $ | 4,717 |
Deferred (benefit) expense |  |  | 582 |  |  |  | 563 |  |  |  | (1,057 | )
Total income tax expense |  | $ | 5,247 |  |  | $ | 4,223 |  |  | $ | 3,660 |
The following is a reconciliation of the “expected” income tax expense, computed by applying the U.S. Federal income tax rate of 35% to income before income tax expense, with the reported income tax expense:
|  | Years ended December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
Computed “expected” income tax expense |  | $ | 8,010 |  |  | $ | 6,927 |  |  | $ | 6,293 |
Tax-exempt interest income |  |  | (2,517 | ) |  |  | (2,556 | ) |  |  | (2,556 | )
Nondeductible interest expense |  |  | 146 |  |  |  | 195 |  |  |  | 267 |
Other, net |  |  | (392 | ) |  |  | (343 | ) |  |  | (344 | )
Reported income tax expense |  | $ | 5,247 |  |  | $ | 4,223 |  |  | $ | 3,660 |
The components of net deferred tax assets, included in other assets, are as follows:
|  | December 31, |
|  | 2011 |  |  | 2010 |
Deferred tax assets: |  |  |  |  |  |
Allowance for loan losses and unearned fee income |  | $ | 3,159 |  |  | $ | 2,857 |
Valuation allowance on other real estate owned |  |  | 210 |  |  |  | 123 |
Deferred compensation and other liabilities |  |  | 1,788 |  |  |  | 1,734 |
Net unrealized losses on securities available for sale |  |  | --- |  |  |  | 90 |
Total deferred tax assets |  | $ | 5,157 |  |  | $ | 4,804 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Fixed assets |  | $ | (266 | ) |  | $ | (72 | )
Discount accretion on securities |  |  | --- |  |  |  | (44 | )
Deposit intangibles |  |  | (912 | ) |  |  | (798 | )
Other |  |  | (138 | ) |  |  | (142 | )
Net unrealized gains on securities available for sale |  |  | (1,425 | ) |  |  | --- |
Total deferred tax liabilities |  |  | (2,741 | ) |  |  | (1,056 | )
Net deferred tax assets |  | $ | 2,416 |  |  | $ | 3,748 |
The Company has determined that a valuation allowance for the gross deferred tax assets is not necessary at December 31, 2011 and 2010 because the realization of all gross deferred tax assets can be supported by the amount of taxes paid during the carryback period available under current tax laws.

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- Definition Description containing the entire income tax disclosure. Examples include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 + Details
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