Other Assets

6 Months Ended

Jun. 30, 2021

Other Assets [Abstract]

Other Assets

Note 7 – Other Assets

The Company had the following other assets at June 30, 2021 and December 31, 2020.

	June 30,		December 31,
(Dollars in thousands)	2021		2020
Accrued interest receivable	$	5,387	$	6,616
Deferred income taxes		5,367		4,442
Prepaid expenses		1,535		1,472
Cash surrender value on life insurance		41,672		31,018
Income taxes receivable		—		156
Other assets		4,233		3,075
Total	$	58,194	$	46,779

The following table provides information on significant components of the Company’s deferred tax assets and liabilities as of June 30, 2021 and December 31, 2020.

	June 30,		December 31,
(Dollars in thousands)	2021		2020
Deferred tax assets:
Allowance for credit losses	$	4,040	$	3,721
Write-downs of other real estate owned		12		12
Nonaccrual loan interest		297		367
Other		2,650		2,152
Total deferred tax assets		6,999		6,252
Less valuation allowance		(271)		(169)
Deferred tax assets, net of valuation allowance		6,728		6,083
Deferred tax liabilities:
Depreciation		166		177
Acquisition accounting adjustments		683		580
Deferred capital gain on branch sale		184		187
Unrealized gains on available-for-sale securities		220		567
Other		108		130
Total deferred tax liabilities		1,361		1,641
Net deferred tax assets	$	5,367	$	4,442