Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes

Schedule of income tax (benefit)

	2014		2013			2012
	(Dollars in thousands)
Currently payable tax:
Federal	$	4,392	$	5,015		$	4,139
State		818		63			51
Total currently payable		5,210		5,078			4,190
Deferred tax (benefit):
Federal		1,114		(130	)		292
State		1,214		1,258			1,007
Total deferred tax		2,328		1,128			1,299
Income tax	$	7,538	$	6,206		$	5,489

Schedule of effective tax rate differs from the federal statutory rate

	2014			2013			2012
Statutory Federal income tax rate		35.0	%		35.0	%		35.0	%
State income taxes, net of federal tax benefit		6.5	%		5.3	%		4.7	%
Low income housing credits, net of investment losses		0.8	%		0.6	%		-0.6	%
Increase in cash surrender value of life insurance		-2.7	%		-3.5	%		-4.2	%
Non-taxable interest income		-3.2	%		-2.9	%		-0.3	%
Split-dollar term insurance		0.1	%		0.2	%		0.0	%
Other, net		-0.5	%		0.3	%		1.0	%
Effective tax rate		36.0	%		35.0	%		35.6	%

Schedule of deferred tax assets and liabilities

	2014			2013
	(Dollars in thousands)
Deferred tax assets:
Defined postretirement benefit obligation	$	10,327		$	8,707
Allowance for loan losses		7,728			8,058
Tax credit carryforwards		2,441			3,958
Stock compensation		1,693			1,697
California net operating loss carryforwards		—			1,138
Accrued expenses		1,446			1,029
Securities available-for-sale		—			668
Loans		2			—
Fixed assets		702			613
Nonaccrual interest		25			134
Split-dollar life insurance benefit plan		112			108
State income taxes		213			—
Other		359			451
Total deferred tax assets		25,048			26,561
Deferred tax liabilities:
Securities available-for-sale		(2,351	)		—
FHLB stock		(245	)		(263	)
Prepaid expenses		(464	)		(481	)
Intangible assets		(1,334	)		(642	)
I/O strips		(621	)		(691	)
Loan fees		(1,131	)		(1,025	)
Other		(375	)		(133	)
Total deferred tax liabilities		(6,521	)		(3,235	)
Net deferred tax assets	$	18,527		$	23,326

Schedule of tax credit carryforwards

	2014
	(Dollars in thousands)
Low income housing credits	$	1,388	(begin to expire in 2030)
Alternative Minimum Tax credits		870	(no expiration date)
State tax credits, net of federal tax effects		181	(no expiration date)
New Hire Retention Credit		2	(expires in 2031)
Total tax credit carryforwards	$	2,441

Schedule of income tax housing investment

				For the Quarter Ended
	For the Year Ended 12/31/14
				12/31/14			09/30/14			06/30/14			03/31/14
	(Dollars in thousands)
Noninterest expense as originally reported	$	44,222		$	12,415		$	10,139		$	10,934		$	10,734
Low income housing investment losses reclassified to income tax expense		—			—			353			(165	)		(188	)
Noninterest expense under the proportional method	$	44,222		$	12,415		$	10,492		$	10,769		$	10,546
Income tax expense as originally reported	$	7,538		$	1,993		$	2,322		$	1,672		$	1,551
Low income housing investment losses reclassified from noninterest expense		—			—			(353	)		165			188
Income tax expense under the proportional method	$	7,538		$	1,993		$	1,969		$	1,837		$	1,739
Effective tax rate as originally reported		36.0	%		35.6	%		40.4	%		33.5	%		33.5	%
Effective under the proportional method		36.0	%		35.6	%		36.5	%		35.6	%		36.1	%

	For the Year Ended 12/31/13			For the Year Ended 12/31/12
	(Dollars in thousands)
Noninterest expense as originally reported	$	41,722		$	40,256
Low income housing investment losses reclassified to income tax expense		(1,252	)		(1,195	)
Noninterest expense under the proportional method	$	40,470		$	39,061
Income tax expense as originally reported	$	4,954		$	4,294
Low income housing investment losses reclassified from noninterest expense		1,252			1,195
Income tax expense under the proportional method	$	6,206		$	5,489
Effective tax rate as originally reported		30.0	%		30.2	%
Effective under the proportional method		35.0	%		35.6	%

Summary Of Carrying Amount Of Income Tax Housing Investment Text Block

	December 31, 2014		December 31, 2013
	(Dollars in thousands)
Low income housing investments	$	5,268	$	1,227
Future commitments	$	1,827	$	59