Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes

Schedule of income tax (benefit)

	2015		2014		2013
	(Dollars in thousands)
Currently payable tax:
Federal	$	5,445	$	4,392	$	5,015
State		2,544		818		63
Total currently payable		7,989		5,210		5,078
Deferred tax (benefit):
Federal		2,029		1,114		(130	)
State		86		1,214		1,258
Total deferred tax		2,115		2,328		1,128
Income tax expense	$	10,104	$	7,538	$	6,206

Schedule of effective tax rate differs from the federal statutory rate

	2015			2014			2013
Statutory Federal income tax rate		35.0	%		35.0	%		35.0	%
State income taxes, net of federal tax benefit		6.9	%		6.5	%		5.3	%
Low income housing credits, net of investment losses		0.0	%		0.8	%		0.6	%
Increase in cash surrender value of life insurance		–2.2	%		–2.7	%		–3.5	%
Non-taxable interest income		–2.7	%		–3.2	%		–2.9	%
Split-dollar term insurance		0.1	%		0.1	%		0.2	%
Other, net		0.9	%		–0.5	%		0.3	%
Effective tax rate		38.0	%		36.0	%		35.0	%

Schedule of deferred tax assets and liabilities

	2015			2014
	(Dollars in thousands)
Deferred tax assets:
Defined postretirement benefit obligation	$	11,049		$	10,327
Allowance for loan losses		7,815			7,728
Federal net operating loss carryforwards		2,397			—
Stock compensation		2,008			1,693
Accrued expenses		1,689			1,446
State income taxes		889			213
Premises and equipment		945			702
California net operating loss carryforwards		591			—
Split-dollar life insurance benefit plan		107			112
Tax credit carryforwards		57			2,441
Loans		—			2
Nonaccrual interest		—			25
Other		742			359
Total deferred tax assets		28,289			25,048
Deferred tax liabilities:
Intangible assets		(2,101	)		(1,334	)
Loan fees		(1,331	)		(1,131	)
Prepaid expenses		(1,022	)		(464	)
I/O strips		(574	)		(621	)
Securities available-for-sale		(505	)		(2,351	)
FHLB stock		(245	)		(245	)
Other		(293	)		(375	)
Total deferred tax liabilities		(6,071	)		(6,521	)
Net deferred tax assets	$	22,218		$	18,527

Summary of carrying amount of income tax housing investment

	December 31, 2015		December 31, 2014
	(Dollars in thousands)
Low income housing investments	$	4,304	$	5,268
Future commitments	$	1,271	$	1,827