| Income Tax Disclosure [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Income Tax Disclosure [Abstract] | |
Reconciliation from Federal Statutory Income Tax Rate to Effective Tax Rate |
Reconciliation from the federal statutory income tax rate to
the effective tax rate is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the years
ended
December 31, |
|
| |
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Federal statutory tax
rate
|
|
|
35.0 |
% |
|
|
35.0 |
% |
|
|
35.0 |
% |
|
Net tax-exempt interest income on securities
of state and political subdivisions
|
|
|
(7.0 |
%) |
|
|
(6.8 |
%) |
|
|
(6.4 |
%) |
|
State income taxes, net
of federal tax effect
|
|
|
1.4 |
% |
|
|
1.6 |
% |
|
|
1.4 |
% |
|
Bank-owned life
insurance
|
|
|
(1.2 |
%) |
|
|
(1.6 |
%) |
|
|
(1.7 |
%) |
|
General business
credits
|
|
|
(2.1 |
%) |
|
|
(2.1 |
%) |
|
|
(3.1 |
%) |
|
All
other—net
|
|
|
0.3 |
% |
|
|
(0.1 |
%) |
|
|
0.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
|
|
26.4 |
% |
|
|
26.0 |
% |
|
|
25.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for Income Taxes Applicable to Income Before Taxes |
The provision
for income taxes applicable to income before taxes consists of the
following:
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|
|
|
|
|
|
|
|
|
|
|
| |
|
For the years ended
December 31, |
|
|
(in
thousands)
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Current:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
$ |
18,053 |
|
|
$ |
15,661 |
|
|
$ |
13,346 |
|
|
State
|
|
|
2,159 |
|
|
|
2,089 |
|
|
|
1,684 |
|
|
Deferred:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
|
10,519 |
|
|
|
10,047 |
|
|
|
8,337 |
|
|
State
|
|
|
305 |
|
|
|
618 |
|
|
|
353 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
31,036 |
|
|
$ |
28,415 |
|
|
$ |
23,720 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of Income Tax Amounts were Recorded in Shareholder's Equity as Elements of Other Comprehensive Income |
The following
income tax amounts were recorded in shareholders’ equity as
elements of other comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the years
ended
December 31, |
|
|
(in
thousands)
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Securities and defined
benefit pension plan unrecognized items
|
|
$ |
(3,480 |
) |
|
$ |
(1,202 |
) |
|
$ |
(3,538 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of Deferred Tax Assets and Liabilities |
Deferred tax
assets and liabilities consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
|
(in
thousands)
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Deferred tax
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan
losses
|
|
$ |
16,198 |
|
|
$ |
15,246 |
|
|
$ |
16,386 |
|
|
Compensation and
benefits
|
|
|
5,444 |
|
|
|
6,114 |
|
|
|
8,764 |
|
|
Security gains and
losses
|
|
|
2,854 |
|
|
|
2,964 |
|
|
|
2,817 |
|
|
Purchase accounting
adjustments
|
|
|
— |
|
|
|
1,275 |
|
|
|
1,497 |
|
|
Partnership
adjustments
|
|
|
— |
|
|
|
1,921 |
|
|
|
1,158 |
|
|
Non-accrual interest income
|
|
|
2,392 |
|
|
|
2,254 |
|
|
|
2,129 |
|
|
Tax credit
carryforwards
|
|
|
12,744 |
|
|
|
13,580 |
|
|
|
10,163 |
|
|
Federal net operating
loss carryforwards
|
|
|
12,020 |
|
|
|
— |
|
|
|
597 |
|
|
Fair value adjustments on
securities available-for-sale
|
|
|
5,394 |
|
|
|
1,979 |
|
|
|
— |
|
|
Other
|
|
|
5,194 |
|
|
|
2,264 |
|
|
|
2,169 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross deferred tax
assets
|
|
|
62,240 |
|
|
|
47,597 |
|
|
|
45,680 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
|
(3,448 |
) |
|
|
(1,530 |
) |
|
|
(1,900 |
) |
|
Accretion on
securities
|
|
|
(421 |
) |
|
|
(2 |
) |
|
|
(295 |
) |
|
Fair value adjustments on
securities available-for-sale
|
|
|
— |
|
|
|
— |
|
|
|
(2,297 |
) |
|
Purchase accounting
adjustments
|
|
|
(149 |
) |
|
|
— |
|
|
|
— |
|
|
Partnership
adjustments
|
|
|
(1,128 |
) |
|
|
— |
|
|
|
— |
|
|
Other
|
|
|
(2,519 |
) |
|
|
(1,511 |
) |
|
|
(1,728 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross deferred tax
liabilities
|
|
|
(7,665 |
) |
|
|
(3,043 |
) |
|
|
(6,220 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net deferred tax
assets
|
|
$ |
54,575 |
|
|
$ |
44,554 |
|
|
$ |
39,460 |
|
|
Schedule of Unrecognized Tax Benefits (Excluding Interest and Federal Income Tax Benefit of Unrecognized State Tax Benefits) |
A
reconciliation of the beginning and ending amount of unrecognized
tax benefits (excluding interest and the federal income tax benefit
of unrecognized state tax benefits) is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the years
ended
December 31, |
|
|
(in
thousands)
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Balance at beginning of
year
|
|
$ |
326 |
|
|
$ |
701 |
|
|
$ |
673 |
|
|
Additions based on tax
positions related to the current year
|
|
|
110 |
|
|
|
104 |
|
|
|
155 |
|
|
Reductions for tax
positions of prior years
|
|
|
— |
|
|
|
(100 |
) |
|
|
— |
|
|
Reductions due to the
statute of limitations
|
|
|
— |
|
|
|
(379 |
) |
|
|
(127 |
) |
|
Settlements
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at end of
year
|
|
$ |
436 |
|
|
$ |
326 |
|
|
$ |
701 |
|
|