Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes [Abstract]

Reconciliation Of Statutory Federal Income Tax Rate

	Year Ended December 31,
	2019		2018		2017
Statutory federal income tax rate	21.0	%	21.0	%	35.0	%
State and local income taxes, net of federal income tax benefit	0.5		(0.8)		2.0
Tax-exempt income, net of disallowed cost of funding	(4.6)		(5.8)		(10.2)
BOLI income	(0.9)		(1.2)		(1.2)
Excess tax benefit of stock-based compensation	(0.1)		(0.9)		(1.7)
Non-deductible officer compensation	0.5		—		—
Impact of cost segregation study	—		(1.5)		—
Impact of federal tax reform on deferred taxes	—		—		(2.0)
Other	0.1		0.1		0.1
	16.5	%	10.9	%	22.0	%

Provision For Income Taxes

	Year Ended December 31,
(in thousands)	2019		2018		2017
Current:
Federal	$	8,799	$	5,975	$	8,139
State and local		641		688		636
		9,440		6,663		8,775
Deferred:
Federal		(876)		(458)		335
State and local		(336)		(1,143)		779
		(1,212)		(1,601)		1,114
	$	8,228	$	5,062	$	9,889

Net Deferred Tax Asset

	December 31,
(in thousands)	2019		2018
Deferred tax assets:
Allowance for loan losses and off-balance-sheet credit exposure	$	8,803	$	9,312
Operating lease liability		4,547		239
Unrealized loss on interest rate swaps		1,323		341
Stock-based compensation		1,317		1,384
Accrued bonuses and severance		1,308		686
Contract incentive		719		680
Asset writedown		121		80
Net operating loss carryforwards		77		371
Retirement expense		60		81
Interest on nonperforming loans		20		16
Unrealized losses on available-for-sale securities		—		1,274
		18,295		14,464
Valuation allowance		—		—
		18,295		14,464
Deferred tax liabilities:
Prepaid pension		5,462		4,545
Right-of-use asset		4,285		—
Deferred loan costs		4,138		5,462
Unrealized gains on available-for-sale securities		2,967		—
Depreciation		1,050		951
Prepaid expenses		76		59
		17,978		11,017
Net deferred tax asset	$	317	$	3,447