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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2014
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense

Information as of December 31 and for the year follows:

 

(Dollars in thousands)         
    2014    2013    2012 
Provision for Income Taxes               
Current federal income tax expense  $2,536   $1,724   $1,475 
Deferred federal income tax expense/(benefit)   (460)   59    (132)
    Income tax expense  $2,076   $1,783   $1,343 

 
Schedule of Reconciliation of Income Tax Expense

Information as of December 31 and for the year follows:

 

(Dollars in thousands)         
    2014    2013    2012 
Reconciliation of Income Tax Provision to Statutory Rate               
Income tax computed at statutory federal rate of 34%  $2,642   $2,338   $1,906 
Tax exempt interest income   (475)   (476)   (466)
Tax exempt earnings on bank-owned life insurance   (103)   (101)   (152)
Other items   12    22    55 
    Income tax expense  $2,076   $1,783   $1,343 
                
Effective income tax rate    27 %    26%   24% 

  
Schedule of Deferred Tax Assets and Liabilities

Information as of December 31 and for the year follows:

 

(Dollars in thousands)      
       
Components of Deferred Tax Assets and Liabilities  2014    2013
Deferred tax assets:      
    Allowance for loan losses  $1,151   $1,075 
    Deferred compensation   295    316 
    Write-downs on other real estate owned   —    119 
Loan costs/fees deferred   84    95 
    Other   172    119 
          Total deferred tax assets   1,702    1,724 

 

Deferred tax liabilities:        
     Depreciation     1,158       1,279  
     Unrealized gains on securities available for sale     476       —  
     Purchase accounting adjustments from merger     258       462  
     Loan servicing rights     166       185  
     Stock dividends received from Federal Home Loan Bank     64       83  
     Post-retirement benefits obligation     77       82  
     Other     70       132  
          Total deferred tax liabilities     2,269       2,223  
          Net deferred tax liabilities   $ 567     $ 499