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Note 12 - Income Taxes | 12 Months Ended
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Dec. 31, 2013
Income Tax Disclosure [Abstract] |
Income Tax Disclosure [Text Block] |
12. | INCOME TAXES
The provision for federal income taxes consists of:
(Dollar amounts in thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
Current payable |  | $ | 1,556 |  |  | $ | 1,660 |  |  | $ | 693 |
Deferred |  |  | 423 |  |  |  | 2 |  |  |  | (97 | )
Total provision |  | $ | 1,979 |  |  | $ | 1,662 |  |  | $ | 596 |
The tax effects of deductible and taxable temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:
(Dollar amounts in thousands) |  | 2013 |  |  | 2012 |
Deferred tax assets: |  |  |  |  |  |  |  |
Allowance for loan and lease loss |  | $ | 2,396 |  |  | $ | 2,645 |
Net unrealized loss on securities |  |  | 1,152 |  |  |  | - |
Supplemental retirement plan |  |  | 247 |  |  |  | 218 |
Investment security basis adjustment |  |  | 66 |  |  |  | 66 |
Nonaccrual interest income |  |  | 472 |  |  |  | 508 |
Deferred origination fees, net |  |  | 171 |  |  |  | 189 |
OREO adjustments |  |  | 107 |  |  |  | 116 |
Accrued compensation |  |  | 197 |  |  |  | - |
Net operating losses |  |  | - |  |  |  | 86 |
Other |  |  | 19 |  |  |  | 47 |
Gross deferred tax assets |  |  | 4,827 |  |  |  | 3,875 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Premises and equipment |  |  | 503 |  |  |  | 434 |
Net unrealized gain on securities |  |  | - |  |  |  | 2,777 |
FHLB stock dividends |  |  | 225 |  |  |  | 225 |
Intangibles |  |  | 304 |  |  |  | 256 |
Other |  |  | 107 |  |  |  | 2 |
Gross deferred tax liabilities |  |  | 1,139 |  |  |  | 3,694 |
Net deferred tax assets |  | $ | 3,688 |  |  | $ | 181 |
No valuation allowance was established at December 31, 2013 and 2012, in view of the Company’s ability to carry-back to taxes paid in previous years and certain tax strategies, coupled with the anticipated future taxable income as evidenced by the Company's earnings potential. The reconciliation between the federal statutory rate and the Company’s effective consolidated income tax rate is as follows:
(Dollar amounts in thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
|  |  |  |  |  | % of |  |  |  |  |  |  | % of |  |  |  |  |  |  | % of |
|  |  |  |  |  | Pretax |  |  |  |  |  |  | Pretax |  |  |  |  |  |  | Pretax |
|  | Amount |  |  | Income |  |  | Amount |  |  | Income |  |  | Amount |  |  | Income |
Provision at statutory rate |  | $ | 3,062 |  |  |  | 34.0 | % |  | $ | 2,700 |  |  |  | 34.0 | % |  | $ | 1,606 |  |  |  | 34.0 | %
Tax-free income |  |  | (1,138 | ) |  |  | (12.6 | ) |  |  | (1,095 | ) |  |  | (13.8 | ) |  |  | (1,071 | ) |  |  | (22.7 | )
Nondeductible interest expense |  |  | 45 |  |  |  | 0.5 |  |  |  | 48 |  |  |  | 0.6 |  |  |  | 61 |  |  |  | 1.3 |
Other |  |  | 10 |  |  |  | 0.1 |  |  |  | 9 |  |  |  | 0.1 |  |  |  | - |  |  |  | - |
Actual tax expense and effective rate |  | $ | 1,979 |  |  |  | 22.0 | % |  | $ | 1,662 |  |  |  | 20.9 | % |  | $ | 596 |  |  |  | 12.6% |
Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. At December 31, 2013 and December 31, 2012, the Company had no unrecognized tax benefits. The Company does not expect the total amount of unrecognized tax benefits to significantly increase within the next 12 months. The Company recognizes interest and penalties on unrecognized tax benefits as a component of income tax expense. The Company and the Bank are subject to U.S. federal income tax as well as an income tax in the state of Ohio, and the Bank are subject to a capital‐based franchise tax in the state of Ohio. The Company and the Bank are no longer subject to examination by taxing authorities for years before December 31, 2010.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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