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Note 13 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

(Dollar amounts in thousands)		2018				2017
Current payable		$	2,403			$	3,929
Deferred			(241	)			293
Total provision		$	2,162			$	4,222

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

(Dollar amounts in thousands)		2018				2017
Deferred tax assets:
Allowance for loan and lease losses		$	1,327			$	1,210
Supplemental retirement plan			454				528
Investment security basis adjustment			18				18
Nonaccrual interest income			389				371
OREO adjustments			-				2
Accrued compensation			222				201
Other			-				86
Gross deferred tax assets			2,410				2,416
Deferred tax liabilities:
Premises and equipment			328				356
Net unrealized gain on securities			1				347
FHLB stock dividends			139				139
Intangibles			342				307
Mortgage servicing rights			75				71
Deferred origination fees, net			13				294
Acquisition fair value adjustments			275				250
Other			5				5
Gross deferred tax liabilities			1,178				1,769
Net deferred tax assets		$	1,232			$	647

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

(Dollar amounts in thousands)		2018								2017
						% of								% of
						Pretax								Pretax
		Amount				Income				Amount				Income
Provision at statutory rate		$	3,065				21.0	%		$	4,651				34.0	%
Tax-exempt income			(622	)			(4.3	)%			(1,045	)			(7.6	)%
Nondeductible interest expense			27				0.2	%			32				0.2	%
Nondeductible merger-related expenses			-				-	%			43				0.3	%
Stock-based compensation			(37	)			(0.3	)%			(50	)			-0.4	%
Change in effective corporate tax rate			-				-	%			401				2.9	%
Other			(271	)			(1.8	)%			190				1.5	%
Actual tax expense and effective rate		$	2,162				14.8	%		$	4,222				30.9	%

X

- 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

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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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

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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

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