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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Reconciliation Between Amount of Total Income Taxes and Amount Computed by Multiplying Income by Applicable Federal Income Tax Rates

A reconciliation between the amount of total income taxes and the amount computed by multiplying income by the applicable federal income tax rates is as follows:

		2019			2018
Income taxes computed at the applicable federal income tax rate	$	1,088		$	1,201
Tax exempt municipal income		(74)			(89)
Income from life insurance		(196)			(42)
Nondeductible merger expenses		188			—
Nondeductible core deposit intangible amortization		—			65
Other, net		(33)			12
Income Tax Expense	$	973		$	1,147

Schedule of Current and Deferred Components of Income Tax Expense

The current and deferred components of income tax expense are as follows:

		2019			2018
Current tax expense	$	1,058		$	(1,156)
Deferred tax benefit		(85)			(9)
Income Tax Expense	$	973		$	1,147

Schedule of Net Deferred Tax Asset

The net deferred tax asset was made up of the following:

		2019			2018
Deferred tax assets	$	1,637		$	939
Deferred tax liabilities		(2,389)			(434)
Net Deferred Tax (Liability) Asset	$	(752)		$	505

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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

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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

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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

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