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8. Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Provision for income taxes

(Dollars in thousands)
		2012				2011				2010
Current		$	1,800				2,141				512
Deferred			(213	)			(678	)			(523	)
Total		$	1,587				1,463				(11	)

Federal income tax rate to earnings reconciliation

(Dollars in thousands)
		2012				2011				2010
Pre-tax income at statutory rate (34%)		$	2,509				2,251				622
Differences:
Tax exempt interest income			(1,168	)			(1,052	)			(721	)
Nondeductible interest and other expense			52				62				58
Cash surrender value of life insurance			(149	)			(101	)			(87	)
State taxes, net of federal benefits			324				233				(8	)
Nondeductible capital losses			-				49				99
Other, net			19				21				26
Total		$	1,587				1,463				(11	)

Deferred tax assets and deferred tax liabilities

Deferred tax assets:
Allowance for loan losses		$	5,560				6,401
Accrued retirement expense			1,409				1,213
Other real estate			628				454
Other			362				204
Total gross deferred tax assets			7,959				8,272
Deferred tax liabilities:
Deferred loan fees			794				1,082
Premises and equipment			417				655
Unrealized gain on available for sale securities			3,581				1,964
Total gross deferred tax liabilities			4,792				3,701
Net deferred tax asset		$	3,167				4,571

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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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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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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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