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Income Taxes Income Taxes
 6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block] INCOME TAXES

Our income tax expense for the three months ended June 30, 2020 and June 30, 2019 totaled $1.5 million and $1.9 million, respectively. For the six months ended June 30, 2020 and June 30, 2019 our income tax expense totaled $2.7 million and $3.5 million. Our effective tax rate (income tax expense as a percentage of income before taxes) for the three months ended June 30, 2020 and 2019 was 17.9% and 18.0%, respectively, and for the six months ended June 30, 2020 and 2019 were 19.0% and 18.2%, respectively. A reconciliation between the statutory income tax rate and our effective income tax rate for the three and six months ended June 30, 2020 and 2019 is as follows:
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
Dollars in thousands
Percent
 
Percent
 
Percent
 
Percent
Applicable statutory rate
21.0
 %
 
21.0
 %
 
21.0
 %
 
21.0
 %
Increase (decrease) in rate resulting from:
 
 
 
 
 
 
 
Tax-exempt interest and dividends, net
(2.4
)%
 
(1.9
)%
 
(2.5
)%
 
(2.2
)%
State income taxes, net of Federal income tax benefit
1.6
 %
 
1.6
 %
 
1.8
 %
 
1.8
 %
Low-income housing and rehabilitation tax credits
(1.1
)%
 
(0.9
)%
 
(0.7
)%
 
(0.7
)%
Other, net
(1.2
)%
 
(1.8
)%
 
(0.6
)%
 
(1.7
)%
Effective income tax rate
17.9
 %
 
18.0
 %
 
19.0
 %
 
18.2
 %


The components of applicable income tax expense for the three and six months ended June 30, 2020 and 2019 are as follows:
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
Dollars in thousands
2020
2019
 
2020
2019
Current
 
 
 
 
 
Federal
$
3,723

$
1,596

 
$
4,992

$
3,247

State
512

206

 
700

470

 
4,235

1,802

 
5,692

3,717

Deferred
 

 
 
 

 

Federal
(2,377
)
68

 
(2,609
)
(206
)
State
(340
)
10

 
(375
)
(30
)
 
(2,717
)
78

 
(2,984
)
(236
)
Total
$
1,518

$
1,880

 
$
2,708

$
3,481