INCOME TAXES	9 Months Ended
Sep. 30, 2017
INCOME TAXES
INCOME TAXES	NOTE 10 — INCOME TAXES In accordance with ASC 740-270-50-1, Accounting for Interim Reporting, the provision for income taxes was recorded at September 30, 2017 and 2016 based on the current estimate of the effective annual rate. The effective tax rate for the third quarter of 2017 was 24.9% versus 26.0% for the same period in 2016. For the first nine months of 2017 and 2016, the effective tax rate was 23.9% vs 23.5%. The slight increase in the effective tax rate for the first nine months of 2017 was due to pre-tax earnings increasing at a greater rate than earnings from tax exempt investments. The Company’s effective tax rate was lower than its blended statutory rate due to the Company’s investments in tax-exempt securities, tax-exempt loans, company-owned life insurance, and a subsidiary company domiciled in a state with no state or local income tax.

INCOME TAXES

9 Months Ended

Sep. 30, 2017

NOTE 10 — INCOME TAXES

In accordance with ASC 740-270-50-1, Accounting for Interim Reporting, the provision for income taxes was recorded at September 30, 2017 and 2016 based on the current estimate of the effective annual rate. The effective tax rate for the third quarter of 2017 was 24.9% versus 26.0% for the same period in 2016. For the first nine months of 2017 and 2016, the effective tax rate was 23.9% vs 23.5%. The slight increase in the effective tax rate for the first nine months of 2017 was due to pre-tax earnings increasing at a greater rate than earnings from tax exempt investments. The Company’s effective tax rate was lower than its blended statutory rate due to the Company’s investments in tax-exempt securities, tax-exempt loans, company-owned life insurance, and a subsidiary company domiciled in a state with no state or local income tax.