Income Taxes

9 Months Ended

Sep. 30, 2019

Income Taxes

Income Taxes

NOTE 14 Income Taxes

The components of income tax expense (benefit) for the three and nine months ended September 30, 2019 and 2018 are as follows:

	Three months ended September 30,
	2019				2018
			Percent of				Percent of
(dollars in thousands)	Amount		Pretax Income		Amount		Pretax Income
Taxes at statutory federal income tax rate	$	1,982	21.0	%	$	1,957	21.0	%
Tax effect of:
Tax exempt income		(107)	(1.1)			(132)	(1.4)
Other		457	4.8			126	1.3
Applicable income taxes	$	2,332	24.7	%	$	1,951	20.9	%

	Nine months ended September 30,
	2019				2018
			Percent of				Percent of
(dollars in thousands)	Amount		Pretax Income		Amount		Pretax Income
Taxes at statutory federal income tax rate	$	6,114	21.0	%	$	5,268	21.0	%
Tax effect of:
Tax exempt income		(329)	(1.1)			(402)	(1.6)
Other		1,440	4.9			386	1.5
Applicable income taxes	$	7,225	24.8	%	$	5,252	20.9	%

It is the opinion of management that the Company has no significant uncertain tax positions that would be subject to change upon examination.