Other Assets

6 Months Ended

Jun. 30, 2020

Other Assets [Abstract]

Other Assets

Note 8 – Other Assets

The Company had the following other assets at June 30, 2020 and December 31, 2019.

(Dollars in thousands)	2020		2019
Accrued interest receivable	$	6,167	$	3,455
Deferred income taxes		3,677		2,754
Prepaid expenses		1,366		1,157
Cash surrender value on life insurance		30,430		29,770
Income taxes receivable		—		175
Other assets		3,624		3,261
Total	$	45,264	$	40,572

The following table provides information on significant components of the Company’s deferred tax assets and liabilities as of June 30, 2020 and December 31, 2019.

	June 30,		December 31,
(Dollars in thousands)	2020		2019
Deferred tax assets:
Allowance for credit losses	$	3,005	$	2,850
Write-downs of other real estate owned		2		9
Nonaccrual loan interest		443		353
Unrealized losses on available-for-sale securities transferred to held to maturity		1		4
Other		2,192		735
Total deferred tax assets		5,643		3,951
Less valuation allowance		(95)		(63)
Deferred tax assets net of valuation allowance		5,548		3,888
Deferred tax liabilities:
Depreciation		172		198
Acquisition accounting adjustments		615		508
Deferred capital gain on branch sale		190		194
Unrealized gains on available-for-sale securities		746		74
Other		148		160
Total deferred tax liabilities		1,871		1,134
Net deferred tax assets	$	3,677	$	2,754