Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes [Abstract]

Components of Provision for Income Taxes

(In thousands)	2013		2012		2011
Current	$	(351)	$	3,205	$	4,461
Deferred		4,329		772		(1,337)
Provision for income taxes	$	3,978	$	3,977	$	3,124

Tax Effects of Temporary Differences and Tax Credits that Give Rise to Deferred Tax Assets and Liabilities

(In thousands)	2013		2012
Deferred tax assets:
Allowance for loan losses	$	4,427	$	4,309
Post retirement benefit obligation		951		1,685
Loan mark-to-market adjustment		0		2,778
Deferred compensation		1,369		1,293
Installment sales		71		180
Core deposit intangible		31		70
Interest rate swap		251		370
Qualified School Bond Tax Credits		919		0
Affordable Housing/Other Tax Credits		1,244		0
Other		284		647
Net Operating Loss		288		0
Investment in real estate limited partnerships, net		121		246
Unrealized loss on securities available for sale		99		0
Unrealized loss on securities held to maturity		1,726		0
Total deferred tax assets	$	11,781	$	11,578
Deferred tax liabilities:
Loan mark-to-market adjustment	$	(3,756)	$	0
Deferred compensation		(3)		0
Unrealized gain on securities available for sale		0		(3,259)
Depreciation		(1,442)		(1,638)
Accrued pension cost		(2,963)		(2,949)
Total deferred tax liabilities	$	(8,164)	$	(7,846)
Net deferred tax asset	$	3,617	$	3,732

Reconciliation of Federal Income Tax Provision

(In thousands)	2013		2012		2011
Applicable statutory Federal income tax	$	6,593	$	6,710	$	6,210
(Reduction) increase in taxes resulting from:
Tax-exempt income		(708)		(719)		(716)
Tax credits		(1,798)		(2,164)		(2,592)
Other, net		(109)		150		222
Provision for income taxes	$	3,978	$	3,977	$	3,124