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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Net Deferred Tax Assets

Net deferred tax assets consisted of the following components at December 31, 2016 and 2015 (in thousands):

		2016				2015
Deferred Tax Assets
Allowance for loan losses		$	1,809			$	1,878
Allowance for other real estate owned			—				76
Unfunded pension liability			—				719
Gain on other real estate owned			—				672
Securities available for sale			447				102
Accrued pension			689				568
Core deposit intangible			371				179
Unvested stock-based compensation			19				11
Limited partnership investments			17				—
Loan origination fees, net			48				—
		$	3,400			$	4,205
Deferred Tax Liabilities
Depreciation		$	708			$	693
Discount accretion			2				2
Loan origination costs, net			—				18
		$	710			$	713
Net deferred tax assets		$	2,690			$	3,492

Income Tax Expense

The income tax expense for the years ended December 31, 2016 and 2015 consisted of the following (in thousands):

		2016				2015
Current tax expense		$	1,925			$	822
Deferred tax expense			428				134
		$	2,353			$	956

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, 2016 and 2015, due to the following (in thousands):

		2016				2015
Computed tax expense at statutory federal rate		$	2,808			$	1,227
Decrease in income taxes resulting from:
Tax-exempt interest and dividend income			(254	)			(201	)
Other			(201	)			(70	)
		$	2,353			$	956

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- References

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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=65882285&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=65882285&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=65882285&loc=d3e32687-109319

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