Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The current and deferred amounts of income tax expense for 2018, 2017 and 2016 are as follows (dollars in thousands): 

	2018		2017		2016
Current:
Federal	$	8,902	$	21,090	$	10,173
State		954		505		(366)
Subtotal		9,856		21,595		9,807
Deferred:
Federal		2,455		3,876		2,682
State		(1,529)		(177)		(713)
Subtotal		926		3,699		1,969
Income tax expense	$	10,782	$	25,294	$	11,776

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Actual income tax expense differs from the tax computed based on pre-tax income and the applicable statutory federal tax rate for the following reasons (dollars in thousands):

	2018			2017			2016
Income before income tax expense	$	71,134		$	68,514		$	42,858
Federal statutory rate		21	%		35	%		35	%
Computed “expected” Federal income tax expense		14,938			23,980			15,000
State tax, net of federal tax benefit		1,104			213			(701)
Impact of “the Act”		(790)			5,623			-
Impact of “the Bill”		(618)			-			-
Bank owned life insurance		(650)			(1,113)			(896)
Tax-exempt interest and dividends		(1,521)			(2,123)			(1,714)
Tax benefits from stock based compensation		(1,100)			(348)			-
Other, net		(581)			(938)			87
Income tax expense	$	10,782		$	25,294		$	11,776

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences that give rise to significant portions of the deferred tax asset and deferred tax liability at December 31, 2018 and 2017 are presented in the following table:

	2018		2017
	(dollars in thousands)
Deferred tax assets
Allowance for loan losses		10,358		8,848
Purchase accounting		307		2,310
Pension actuarial losses		2,203		1,647
New Jersey net operating loss		2,796		1,310
Deferred compensation		1,234		1,184
Unrealized losses on securities and swaps		1,620		483
Deferred loan costs, net of fees		19		474
Accrued rent		426		459
Capital lease		232		211
Nonaccrual interest		95		158
Other		-		7
Total deferred tax assets	$	19,290	$	17,091
Deferred tax liabilities
Employee benefit plans	$	(2,167)	$	(1,501)
Depreciation		(512)		(434)
Prepaid expenses		(185)		(174)
Market discount accretion		(414)		(60)
Unrealized gains on securities and swaps		(366)		(224)
Other		(198)		(28)
Total deferred tax liabilities		(3,842)		(2,421)
Net deferred tax assets	$	15,448	$	14,670