Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes [Abstract]

Summary of income tax expense

	For the years ended December 31,
(dollars in thousands)	2014			2013		2012
Current income taxes:
Federal	$	4,238		2,747		2,031
State		297		129		98
Total current tax expense		4,535		2,876		2,129
Deferred income tax benefit		(1,422	)	(460	)	(296	)
Income tax expense	$	3,113		2,416		1,833

Summary of the items that caused recorded income taxes to differ from taxes computed using the statutory tax rate

	For the years ended December 31,
(dollars in thousands)	2014			2013		2012
Tax expense at statutory rate	$	3,311		2,562		1,936
Effect of state income taxes		196		85		65
Exempt income		(170	)	(199	)	(168	)
Other		(224	)	(32	)	-
Income tax expense	$	3,113		2,416		1,833

Summary of the deferred tax assets and liabilities

	December 31,
(dollars in thousands)	2014		2013
Deferred tax assets:
Allowance for loan losses	$	3,996	3,472
Unrealized loss on securities available for sale		-	695
Net deferred loan fees		599	450
Interest on nonaccrual loans		957	627
Deferred compensation		953	833
Sale of real estate owned		198	199
Other		279	297
		6,982	6,573
Deferred tax liabilities:
Property and equipment		1,191	1,225
Unrealized gain on securities available for sale		156	-
Other		126	410
		1,473	1,635
Net deferred tax asset	$	5,509	4,938