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8. Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Components of Income Tax Expense (Benefit)

(Dollars in thousands)
	2013			2012		2011
Current	$	1,345		1,800		2,141
Deferred		534		(213	)	(678	)
Total	$	1,879		1,587		1,463

Schedule of Effective Income Tax Rate Reconciliation

(Dollars in thousands)
	2013			2012		2011
Pre-tax income at statutory rate (34%)	$	2,914		2,509		2,251
Differences:
Tax exempt interest income		(1,481	)	(1,168	)	(1,052	)
Nondeductible interest and other expense		141		52		62
Cash surrender value of life insurance		(147	)	(149	)	(101	)
State taxes, net of federal benefits		428		324		233
Nondeductible capital losses		-		-		49
Other, net		24		19		21
Total	$	1,879		1,587		1,463

Schedule of Deferred Tax Assets and Liabilities

(Dollars in thousands)
	2013			2012
Deferred tax assets:
Allowance for loan losses	$	5,205		5,560
Accrued retirement expense		1,489		1,409
Other real estate		218		628
Other		413		362
Unrealized loss on available for sale securities		747		-
Total gross deferred tax assets		8,072		7,959
Deferred tax liabilities:
Deferred loan fees		581		794
Premises and equipment		530		417
Unrealized gain on available for sale securities		-		3,581
Total gross deferred tax liabilities		1,111		4,792
Net deferred tax asset	$	6,961		3,167

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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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