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Note K - Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Notes Tables |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Current tax expense |  | $ | 1,446 |  |  | $ | 2,389 |  |  | $ | 2,579 |
Deferred tax (benefit) expense |  |  | 367 |  |  |  | (134 | ) |  |  | 1,907 |
Total income taxes |  | $ | 1,813 |  |  | $ | 2,255 |  |  | $ | 4,486 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
|  | 2019 |  |  | 2018 |
Items giving rise to deferred tax assets: |  |  |  |  |  |  |  |
Allowance for loan losses |  | $ | 1,364 |  |  | $ | 1,463 |
Unrealized loss on securities available for sale |  |  | ---- |  |  |  | 568 |
Deferred compensation |  |  | 1,700 |  |  |  | 1,580 |
Deferred loan fees/costs |  |  | 110 |  |  |  | 119 |
Other real estate owned |  |  | 4 |  |  |  | 434 |
Accrued bonus |  |  | 204 |  |  |  | 280 |
Purchase accounting adjustments |  |  | 24 |  |  |  | 61 |
Net operating loss |  |  | 115 |  |  |  | 132 |
Lease liability |  |  | 274 |  |  |  | ---- |
Other |  |  | 346 |  |  |  | 257 |
Items giving rise to deferred tax liabilities: |  |  |  |  |  |  |  |
Mortgage servicing rights |  |  | (77 | ) |  |  | (80 | )
FHLB stock dividends |  |  | (676 | ) |  |  | (676 | )
Unrealized gain on securities available for sale |  |  | (140 | ) |  |  | ---- |
Prepaid expenses |  |  | (182 | ) |  |  | (191 | )
Depreciation and amortization |  |  | (579 | ) |  |  | (656 | )
Right-of-use asset |  |  | (274 | ) |  |  | ---- |
Other |  |  | ---- |  |  |  | (3 | )
Net deferred tax asset |  | $ | 2,213 |  |  | $ | 3,288 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Statutory tax |  | $ | 2,461 |  |  | $ | 2,982 |  |  | $ | 4,078 |
Effect of nontaxable interest |  |  | (336 | ) |  |  | (352 | ) |  |  | (514 | )
Effect of nontaxable insurance premiums |  |  | (212 | ) |  |  | (218 | ) |  |  | (303 | )
Income from bank owned insurance, net |  |  | (141 | ) |  |  | (142 | ) |  |  | (230 | )
Effect of postretirement benefits |  |  | 54 |  |  |  | 20 |  |  |  | (78 | )
Effect of nontaxable life insurance death proceeds |  |  | ---- |  |  |  | ---- |  |  |  | (175 | )
Impact from TCJA |  |  | ---- |  |  |  | ---- |  |  |  | 1,783 |
Effect of state income tax |  |  | 100 |  |  |  | 33 |  |  |  | 70 |
Tax credits |  |  | (145 | ) |  |  | (217 | ) |  |  | (191 | )
Milton Merger Costs |  |  | ---- |  |  |  | ---- |  |  |  | 4 |
Other items |  |  | 32 |  |  |  | 149 |  |  |  | 42 |
Total income taxes |  | $ | 1,813 |  |  | $ | 2,255 |  |  | $ | 4,486 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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