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Note 11 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

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

		2020				2019
Deferred Tax Assets
Allowance for loan losses		$	1,572			$	1,036
Post-retirement benefits			101				46
Core deposit intangible			381				391
Unvested stock-based compensation			31				18
Limited partnership investments			8				13
Lease liability			72				67
Loan origination fees, net			328				71
		$	2,493			$	1,642
Deferred Tax Liabilities
Depreciation		$	663			$	741
Right of use asset			73				68
Unrealized gains on securities available for sale			813				192
Cash flow hedges			91				—
		$	1,640			$	1,001
Net deferred tax assets		$	853			$	641

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

		2020				2019
Current tax expense		$	2,972			$	2,246
Deferred tax benefit			(923	)			(8	)
		$	2,049			$	2,238

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

		2020				2019
Computed tax expense at statutory federal rate		$	2,290			$	2,477
Increase in income taxes resulting from:
Other			10				14
Decrease in income taxes resulting from:
Tax-exempt interest and dividend income			(153	)			(157	)
Income from bank owned life insurance			(98	)			(96	)
		$	2,049			$	2,238

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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-Publisher FASB
-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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-SubTopic 10
-Section 50
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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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-SubTopic 10
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