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Income Taxes | 12 Months Ended
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Dec. 31, 2017
Income Taxes [Abstract] |
Income Taxes | Note 13: Income Taxes The provision for income taxes includes these components:
($ in thousands) |  | For The Year Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Taxes currently payable |  | $ | 3,348 |  |  | $ | 3,379 |  |  | $ | 1,885 |
Impact of TCJA |  |  | (1,730 | ) |  |  | - |  |  |  | - |
Deferred provision |  |  | 942 |  |  |  | 738 |  |  |  | 1,519 |
Income tax expense |  | $ | 2,560 |  |  | $ | 4,117 |  |  | $ | 3,404 |
A reconciliation of income tax expense at the statutory rate to the Company’s actual income tax expense is shown below:
($ in thousands) |  | For The Year Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Computed at the statutory rate (34%) |  | $ | 4,633 |  |  | $ | 4,387 |  |  | $ | 3,748 |
Increase (decrease) resulting from |  |  |  |  |  |  |  |  |  |  |  |
Tax exempt interest |  |  | (200 | ) |  |  | (218 | ) |  |  | (240 | )
BOLI income |  |  | (142 | ) |  |  | (98 | ) |  |  | (99 | )
Impact of TCJA |  |  | (1,730 | ) |  |  | - |  |  |  | - |
Stock Compensation |  |  | (77 | ) |  |  | - |  |  |  | - |
Other |  |  | 76 |  |  |  | 46 |  |  |  | (5 | )
Actual tax expense |  | $ | 2,560 |  |  | $ | 4,117 |  |  | $ | 3,404 |
The tax effects of temporary differences related to deferred taxes shown on the balance sheets are:
($ in thousands) |  | At December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Deferred tax assets |  |  |  |  |  |  |  |  |
Allowance for loan losses |  | $ | 1,665 |  |  | $ | 2,627 |  |  | $ | 2,377 |
Net deferred loan fees |  |  | 63 |  |  |  | 98 |  |  |  | 104 |
Unrealized losses on available-for-sale securities |  |  | 38 |  |  |  | - |  |  |  | - |
Other |  |  | 165 |  |  |  | 361 |  |  |  | 757 |
|  |  | 1,931 |  |  |  | 3,086 |  |  |  | 3,238 |
Deferred tax liabilities |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  |  | (926 | ) |  |  | (1,385 | ) |  |  | (1,335 | )
Mortgage servicing rights |  |  | (2,162 | ) |  |  | (2,930 | ) |  |  | (2,468 | )
Unrealized gains on available-for-sale securities |  |  | - |  |  |  | (26 | ) |  |  | (335 | )
Purchase accounting adjustments |  |  | (1,102 | ) |  |  | (1,659 | ) |  |  | (1,489 | )
Prepaids |  |  | (169 | ) |  |  | (188 | ) |  |  | (285 | )
FHLB stock dividends |  |  | (288 | ) |  |  | (466 | ) |  |  | (465 | )
|  |  | (4,647 | ) |  |  | (6,654 | ) |  |  | (6,377 | )
Net deferred tax liability |  | $ | (2,716 | ) |  | $ | (3,568 | ) |  | $ | (3,139 | )
The United States Congress enacted significant change to the US tax code on December 22, 2017. Among other changes, the TCJA reduces the US Federal corporate tax rate from 35 percent to 21 percent. At December 31, 2017, the Company has substantially completed its accounting for the tax effects of enactment of the TCJA. For deferred tax assets and liabilities, amounts were remeasured based on the rates expected to reverse in the future, which is now 21 percent. As noted above, the Company realized a one-time tax credit due to the TCJA of $1.7 million in 2017. The Company continues to analyze certain aspects of the TCJA and further refinements are possible, which could potentially affect the measurement of these balances or potentially give rise to new deferred tax amounts, although we do not expect these adjustments to materially impact our financial statements.

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- Definition The entire disclosure for income taxes. Disclosures may 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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