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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Net Deferred Tax Assets

Net deferred tax assets consisted of the following components at December 31, 2015 and 2014 (in thousands):

		2015				2014
Deferred Tax Assets
Allowance for loan losses		$	1,878			$	2,284
Allowance for other real estate owned			76				127
Unfunded pension liability			719				732
Gain on other real estate owned			672				639
Securities available for sale			102				71
Accrued pension			568				392
Core deposit intangible			179				13
Unvested stock-based compensation			11				—
		$	4,205			$	4,258
Deferred Tax Liabilities
Depreciation		$	693			$	604
Discount accretion			2				2
Loan origination fees, net			18				44
		$	713			$	650
Net deferred tax assets		$	3,492			$	3,608

Income Tax Expense

The income tax expense for the years ended December 31, 2015 and 2014 consisted of the following (in thousands):

		2015				2014
Current tax expense		$	822			$	1,528
Deferred tax expense			134				1,971
		$	956			$	3,499

Income Tax Expense Differs from the Amount of Income Tax Determined by Applying the U.S. Federal Income Tax Rate to Pretax Income

The income tax expense differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income for the years ended December 31, 2015 and 2014, due to the following (in thousands):

		2015				2014
Computed tax expense at statutory federal rate		$	1,227			$	3,784
Decrease in income taxes resulting from:
Tax-exempt interest and dividend income			(201	)			(189	)
Other			(70	)			(96	)
		$	956			$	3,499

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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://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

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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://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

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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