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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
INCOME TAXES [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) |
(Dollars in thousands) |  | 2019 |  | 2018
Current tax expense: |  |  |  |  |  |
Federal |  | $ | 3,974 |  | $ | 4,110
State |  |  | 1,395 |  |  | 1,167
|  |  | 5,369 |  |  | 5,277
Deferred income tax (benefit) expense: |  |  |  |  |  |
Federal |  |  | 122 |  |  | (120)
State |  |  | 119 |  |  | 223
|  |  | 241 |  |  | 103
Total income tax expense |  | $ | 5,610 |  | $ | 5,380
Schedule of Effective Income Tax Rate Reconciliation |
|  | 2019 |  | 2018 |
Tax at federal statutory rate |  | 21 | % | 21 | %
Tax effect of: |  |  |  |  |
Tax-exempt income |  | (1.0) |  | (0.5) |
State income taxes, net of federal benefit |  | 5.5 |  | 5.2 |
Other |  | 0.1 |  | (0.3) |
Actual income tax expense rate |  | 25.6 | % | 25.4 | %
Schedule of Deferred Tax Assets and Liabilities |
(Dollars in thousands) |  | 2019 |  | 2018
Deferred tax assets: |  |  |  |  |  |
Allowance for credit losses |  | $ | 2,850 |  | $ | 2,797
Write-downs of other real estate owned |  |  | 9 |  |  | 273
Nonaccrual loan interest |  |  | 353 |  |  | 260
Unrealized losses on available-for-sale securities |  |  | — |  |  | 1,105
Unrealized losses on available-for-sale securities transferred to held to maturity |  |  | 4 |  |  | 12
Other |  |  | 735 |  |  | 605
Total deferred tax assets |  |  | 3,951 |  |  | 5,052
Less valuation allowance |  |  | (63) |  |  | —
Deferred tax assets net of valuation allowance |  |  | 3,888 |  |  | 5,052
Deferred tax liabilities: |  |  |  |  |  |
Depreciation |  |  | 198 |  |  | 238
Acquisition accounting adjustments |  |  | 508 |  |  | 247
Deferred capital gain on branch sale |  |  | 194 |  |  | 200
Unrealized gains on available-for-sale securities |  |  | 74 |  |  | —
Other |  |  | 160 |  |  | 185
Total deferred tax liabilities |  |  | 1,134 |  |  | 870
Net deferred tax assets |  | $ | 2,754 |  | $ | 4,182

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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