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Income Tax
6 Months Ended
Jun. 30, 2015
Income Tax Disclosure [Abstract]  
Income Tax
Income Tax

Three Months Ended
June 30,

Six Months Ended
June 30,
 
2015

2014

2015

2014
Income Tax Expense :
 

 

 

 
Currently Payable:
 

 

 

 
Federal
$
7,658


$
1,947


$
7,688


$
428

Deferred:
 

 

 

 
Federal
1,081


3,806


6,750


9,832

State
117


135


252


245

Total Income Tax Expense
$
8,856


$
5,888


$
14,690


$
10,505

Reconciliation of Federal Statutory to Actual Tax Expense:
 

 

 

 
Federal statutory income tax at 35%
$
9,389


$
7,367


$
17,091


$
13,750

Tax-exempt interest income
(1,738
)

(1,270
)

(3,167
)

(2,495
)
Basis difference on sale of insurance subsidiary
2,252

 
 
 
2,252

 
 
Stock compensation
10


8


18


21

Earnings on life insurance
(223
)

(228
)

(485
)

(490
)
Tax credits
(148
)

(297
)

(292
)

(595
)
Other
(686
)

308


(727
)

314

Actual Tax Expense
$
8,856


$
5,888


$
14,690


$
10,505