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Component: (Network and Table) |
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Network | 2311301 - Disclosure - INCOME TAXES (Tables) (http://www.acnb.com/role/IncomeTaxesTables) |
Table | (Implied) |
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] | 0000715579 (http://www.sec.gov/CIK) |
Income Tax Disclosure [Abstract] | Period [Axis] |
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2016-01-01 - 2016-12-31 |
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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 |
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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 | % |
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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 |
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