XML 53 R38.htm IDEA: XBRL DOCUMENT v3.3.1.900
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The following table shows the components of income taxes for the years ended December 31, 2015, 2014 and 2013.
 
2015
 
2014
 
2013
Current:
 
 
 
 
 
Federal
$
8,057

 
$
4,838

 
$
5,097

State
1,558

 
1,276

 
1,076

Deferred:
 
 
 

 
 

Federal
112

 
608

 
1,044

State
(30
)
 
(73
)
 
103

Income taxes
$
9,697

 
$
6,649

 
$
7,320

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
Total income taxes for the years ended December 31, 2015, 2014 and 2013, differed from the amounts computed by applying the U.S. federal income tax rate of 35 percent to income before income taxes as shown in the following table.
 
2015
 
2014
 
2013
 
Amount
 
Percent
of Pretax
Income
 
Amount
 
Percent
of Pretax
Income
 
Amount
 
Percent
of Pretax
Income
Computed expected tax expense
$
11,004

 
35.0
 %
 
$
9,341

 
35.0
 %
 
$
8,474

 
35.0
 %
State income tax expense, net of
 
 
 
 
 
 
 
 
 
 
 
federal income tax benefit
957

 
3.0

 
596

 
2.2

 
687

 
2.8

Tax-exempt interest income
(1,786
)
 
(5.7
)
 
(1,525
)
 
(5.7
)
 
(1,331
)
 
(5.5
)
Nondeductible interest expense to
 
 
 
 
 
 
 
 
 
 
 
own tax-exempt securities
43

 
0.1

 
42

 
0.2

 
46

 
0.2

Tax-exempt increase in cash value of
 
 
 
 
 
 
 
 
 
 
 
life insurance
(254
)
 
(0.8
)
 
(256
)
 
(1.0
)
 
(226
)
 
(1.0
)
Utilization of capital loss carryforwards
(130
)
 
(0.4
)
 
(1,318
)
 
(4.9
)
 

 

Low income housing tax credits
(275
)
 
(0.9
)
 
(160
)
 
(0.6
)
 
(79
)
 
(0.3
)
New markets tax credit

 

 

 

 
(273
)
 
(1.1
)
Other, net
138

 
0.5

 
(71
)
 
(0.3
)
 
22

 
0.1

Income taxes
$
9,697

 
30.8
 %
 
$
6,649

 
24.9
 %
 
$
7,320

 
30.2
 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
Net deferred tax assets consisted of the following components as of December 31, 2015 and 2014.
 
2015
 
2014
Deferred tax assets:
 
 
 
Allowance for loan losses
$
5,687

 
$
5,171

Net unrealized losses on interest rate swaps
473

 
99

Intangibles
771

 
1,079

Other real estate owned

 
367

Accrued expenses
898

 
891

Restricted stock unit compensation
358

 
184

State net operating loss carryforward
1,183

 
1,100

Capital loss carryforward
355

 
797

Other
34

 
46

 
9,759

 
9,734

Deferred tax liabilities:
 

 
 

Net deferred loan fees and costs
350

 
334

Net unrealized gains on securities available for sale
210

 
255

Premises and equipment
674

 
565

Other
317

 
350

 
1,551

 
1,504

Net deferred tax assets before valuation allowance
8,208

 
8,230

Valuation allowance for deferred tax assets
(1,538
)
 
(1,897
)
Net deferred tax assets
$
6,670

 
$
6,333