The deferred tax effects of temporary differences are as follows: |
|
|
2013 |
|
|
|
2012 |
|
|
|
2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIH Partnership Losses |
|
$ |
(72,955 |
) |
|
$ |
(44,640 |
) |
|
$ |
(43,906 |
) |
Securities impairment |
|
|
- |
|
|
|
- |
|
|
|
961,648 |
|
Deferred Tax Asset Valuation Allowance |
|
|
- |
|
|
|
- |
|
|
|
385,496 |
|
Local & Historic State Credits Recognized |
|
|
(67,594 |
) |
|
|
(82,112 |
) |
|
|
44,533 |
|
Provision for loan losses |
|
|
96,159 |
|
|
|
(224,835 |
) |
|
|
(135,662 |
) |
Non-qualified deferred compensation |
|
|
(64,140 |
) |
|
|
(35,161 |
) |
|
|
(50,456 |
) |
Depreciation |
|
|
86,551 |
|
|
|
(42,919 |
) |
|
|
51,534 |
|
Other real estate owned |
|
|
(3,746 |
) |
|
|
- |
|
|
|
- |
|
Pension expense |
|
|
84,282 |
|
|
|
97,067 |
|
|
|
231,699 |
|
Goodwill tax amortization |
|
|
64,920 |
|
|
|
61,424 |
|
|
|
61,424 |
|
Secondary accrual on nonaccrual loans |
|
|
444,482 |
|
|
|
(223,557 |
) |
|
|
(114,231 |
) |
Other |
|
|
899 |
|
|
|
- |
|
|
|
459 |
|
Deferred Income Tax Expense (Benefit) |
|
$ |
568,858 |
|
|
$ |
(494,733 |
) |
|
$ |
1,392,538 |
|