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SIERRA BANCORP AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
96
10.
INCOME TAXES
The provision for income taxes follows (dollars in thousands):
2015
2014
2013
Federal:
Current
5,451
$
5,738
$
563
$
Deferred
1,028
(1,281)
1,842
6,479
4,457
2,405
State:
Current
1,928
1,604
170
Deferred
664
130
518
2,592
1,734
688
9,071
$
6,191
$
3,093
$
Year Ended December 31,
The components of the net deferred tax asset, included in other assets, are as follows (dollars in thousands):
2015
2014
Deferred taxassets:
Allowance for loan losses
4,496
$
4,877
$
Foreclosed assets
1,204
1,208
Deferred compensation
4,386
4,227
Accrued reserves
500
613
Non accrual loans
378
245
Other than temporary impairment charge
450
565
Credit carryforward
3,100
5,676
Net operating loss carryforward
1,664
1,709
Other
3,144
1,207
Total deferred taxassets
19,322
20,327
Deferred tax liabilities:
Premises and equipment
(815)
(726)
Deferred loan costs
(2,640)
(2,442)
Unrealized gain on securities available-for-sale
(1,846)
(3,011)
Other
(1,738)
(1,338)
Total deferred tax liabilities
(7,039)
(7,517)
Net deferred taxassets
12,283
$
12,810
$
December 31,