XML 28 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
Federal Income Taxes
6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]  
Federal Income Taxes
Federal Income Taxes
The reconciliation of the provision for federal income taxes and the amount computed at the federal statutory tax rate of 34% of income before federal income tax expense is as follows for the:

Three Months Ended 
 June 30
 
Six Months Ended 
 June 30
 
2016
 
2015
 
2016
 
2015
Income taxes at 34% statutory rate
$
1,381

 
$
1,725

 
$
2,555

 
$
3,236

Effect of nontaxable income
 
 
 
 
 
 
 
Interest income on tax exempt municipal securities
(486
)
 
(510
)
 
(988
)
 
(1,010
)
Earnings on corporate owned life insurance policies
(66
)
 
(66
)
 
(130
)
 
(130
)
Effect of tax credits
(193
)
 
(181
)
 
(387
)
 
(367
)
Other
(18
)
 
(26
)
 
(36
)
 
(52
)
Total effect of nontaxable income
(763
)
 
(783
)
 
(1,541
)
 
(1,559
)
Effect of nondeductible expenses
37

 
35

 
78

 
71

Federal income tax expense
$
655

 
$
977

 
$
1,092

 
$
1,748