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2311301 - Disclosure - INCOME TAXES (Tables)
(http://www.acnb.com/role/IncomeTaxesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Income Tax Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Income Tax Disclosure [Abstract]
 
Schedule of Components of Income Tax Expense (Benefit)
The components of income tax expense for the years ended December 31, 2016, 2015 and 2014, are as follows:
In thousands
2016
 
2015
 
2014
Federal:
 
 
 
 
 
Current
$
3,530

 
$
3,316

 
$
2,152

Deferred
171

 
392

 
875

 
3,701

 
3,708

 
3,027

State:
 
 
 
 
 
Current
67

 
53

 
53

 
$
3,768

 
$
3,761

 
$
3,080

 
 
Schedule of Reconciliations of the Statutory Federal Income Tax
Reconciliations of the statutory federal income tax to the income tax expense reported in the consolidated statements of income for the years ended December 31, 2016, 2015 and 2014, are as follows:
 
Percentage of Income
before Income Taxes
 
2016
 
2015
 
2014
Federal income tax at statutory rate
34.0
 %
 
34.0
 %
 
34.0
 %
State income taxes, net of federal benefit
0.3
 %
 
0.2
 %
 
0.3
 %
Tax-exempt income
(4.8
)%
 
(4.4
)%
 
(3.5
)%
Earnings on investment in bank-owned life insurance
(2.6
)%
 
(2.5
)%
 
(2.8
)%
Rehabilitation and low-income housing credits
(2.0
)%
 
(2.0
)%
 
(5.1
)%
Other
0.8
 %
 
0.2
 %
 
0.1
 %
 
25.7
 %
 
25.5
 %
 
23.0
 %
 
 
Components of Deferred Tax Assets and Liabilities
Components of deferred tax assets and liabilities at December 31 were as follows:
In thousands
2016
 
2015
Deferred tax assets:
 
 
 
Allowance for loan losses
$
4,968

 
$
5,014

Available for sale securities
143

 

Accrued deferred compensation
1,166

 
1,008

Pension
3,101

 
3,034

Deferred loan fees

 
4

Other-than-temporary impairment
70

 
178

Nonaccrual interest
226

 
168

Deferred director fees
686

 
576

Other
982

 
644

 
11,342

 
10,626

Deferred tax liabilities:
 
 
 
Deferred loan fees
79

 

Available for sale securities

 
600

Prepaid pension benefit cost
6,632

 
6,505

Prepaid expenses
123

 
166

Accumulated depreciation
372

 
331

Goodwill/intangibles
1,006

 
873

 
8,212

 
8,475

Net Deferred Tax Asset
$
3,130

 
$
2,151