Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Provision for Income Taxes (Credit)

The provision for income taxes (credit) consists of the following:

		2017		2016			2015
Current expense	$	9,451	$	8,642		$	3,046
Deferred expense (benefit)		618		(1,157	)		(547	)
TOTALS	$	10,069	$	7,485		$	2,499

Effective Tax Rates Differ from Federal Statutory Rate

Effective tax rates differ from federal statutory rate of 35% applied to income before income taxes due to the following:

		2017		2016			2015
Statutory tax	$	11,474		$	9,815		$	3,694
Effect of nontaxable interest		(2,054	)		(1,684	)		(1,403	)
Bank owned life insurance, net		(291	)		(283	)		(242	)
Tax credits		(371	)		(367	)		(236	)
Effect of nontaxable insurance premiums		(348	)		(143	)		0
Impact of enactment of federal tax reform		1,793			0			0
Nondeductible acquisition costs		70			40			401
Other		(204	)		107			285
ACTUAL TAX	$	10,069		$	7,485		$	2,499

Deferred Tax Assets (Liabilities)

Deferred tax assets (liabilities) are comprised of the following:

		2017			2016
Deferred tax assets:
Allowance for credit losses	$	2,525		$	3,621
Net unrealized loss on securities available for sale		0			1,522
Deferred and accrued compensation		981			1,922
Deferred loan fees and costs		517			729
Post-retirement benefits		0			25
Nonaccrual loan interest income		416			306
Other-than-temporary impairment		25			196
Restricted stock		647			509
AMT credit carryforward		64			205
Other		73			106
Gross deferred tax assets	$	5,248		$	9,141
Deferred tax liabilities:
Depreciation and amortization	$	(448	)	$	(740	)
Net unrealized gain on securities available for sale		(159	)		0
Federal Home Loan Bank dividends		(656	)		(1,093	)
Purchase accounting adjustments		(744	)		(1,559	)
Mortgage servicing rights		(261	)		(299	)
Prepaid expenses		(277	)		(271	)
Other		(8	)		(15	)
Gross deferred tax liabilities		(2,553	)		(3,977	)
NET DEFERRED TAX ASSET	$	2,695		$	5,164