|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31
|
|
(Dollars in thousands)
|
2013
|
2012
|
|
Deferred tax assets:
|
|
|
|
|
|
Allowance for credit losses
|
$
|
1,572
|
$
|
2,325
|
|
Unrealized losses on securities
|
|
836
|
|
-
|
|
Unrealized losses on reclassified securities
|
|
11
|
|
18
|
|
Unrealized loss on pension obligation
|
|
375
|
|
759
|
|
Capital loss disallowance
|
|
1
|
|
1
|
|
State net operating losses
|
|
393
|
|
373
|
|
Unvested stock awards
|
|
58
|
|
45
|
|
Deferred compensation (SERP)
|
|
679
|
|
653
|
|
Nonqualified stock options
|
|
61
|
|
38
|
|
Non-accrued interest
|
|
622
|
|
422
|
|
Joint venture difference
|
|
-
|
|
-
|
|
Deferred compensation (BOLI)
|
|
-
|
|
-
|
|
Provision for unfunded loans
|
|
53
|
|
42
|
|
OREO write-downs
|
|
24
|
|
75
|
|
Accrued expenses
|
|
50
|
|
118
|
|
Total gross deferred tax assets
|
|
4,735
|
|
4,869
|
|
Deferred tax liabilities:
|
|
|
|
|
|
Unrealized gains on securities available for sale
|
|
-
|
|
(426)
|
|
Depreciation
|
|
(113)
|
|
(80)
|
|
Pension expense
|
|
(43)
|
|
(100)
|
|
Bank shares tax credit
|
|
(189)
|
|
(145)
|
|
Prepaid expenses
|
|
(169)
|
|
(155)
|
|
Mortgage servicing rights
|
|
(39)
|
|
(28)
|
|
Total gross deferred tax liabilities
|
|
(553)
|
|
(934)
|
|
Valuation allowance
|
|
(394)
|
|
(374)
|
|
Net deferred tax asset
|
$
|
3,788
|
$
|
3,561
|