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8. Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Components of Income Tax Expense (Benefit) | The provision for income taxes is summarized as follows:
(Dollars in thousands) |  |  |  |  |  |
| 2014 |  | 2013 |  | 2012 |
Current | $ | 1,759 |  | 1,345 |  | 1,800 |
Deferred |  | 178 |  | 534 |  | (213 | )
Total | $ | 1,937 |  | 1,879 |  | 1,587 |
Schedule of Effective Income Tax Rate Reconciliation | The differences between the provision for income taxes and the amount computed by applying the statutory federal income tax rate to earnings before income taxes are as follows:
(Dollars in thousands) |  |  |  |  |  |
| 2014 |  | 2013 |  | 2012 |
Pre-tax income at statutory rate (34%) | $ | 3,851 |  | 2,914 |  | 2,509 |
Differences: |  |  |  |  |  |  |
Tax exempt interest income |  | (1,630 | ) | (1,481 | ) | (1,168 | )
Nondeductible interest and other expense |  | 119 |  | 141 |  | 52 |
Cash surrender value of life insurance |  | (143 | ) | (147 | ) | (149 | )
State taxes, net of federal benefits |  | (283 | ) | 428 |  | 324 |
Other, net |  | 23 |  | 24 |  | 19 |
Total | $ | 1,937 |  | 1,879 |  | 1,587 |
Schedule of Deferred Tax Assets and Liabilities |
(Dollars in thousands) |  |  |
| 2014 |  | 2013
Deferred tax assets: |  |  |
Allowance for loan losses | $ | 4,134 |  | 5,205
Accrued retirement expense |  | 1,529 |  | 1,489
Other real estate |  | 206 |  | 218
Federal credit carryforward |  | 342 |  | 79
State credit carryforward |  | 734 |  | -
Other |  | 176 |  | 334
Unrealized loss on available for sale securities |  | - |  | 747
Total gross deferred tax assets |  | 7,121 |  | 8,072
Deferred tax liabilities: |  |  |  |
Deferred loan fees |  | 433 |  | 581
Premises and equipment |  | 652 |  | 530
Unrealized gain on available for sale securities |  | 3,479 |  | -
Total gross deferred tax liabilities |  | 4,564 |  | 1,111
Net deferred tax asset | $ | 2,557 |  | 6,961

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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=6907707&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://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 + 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://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 + Details
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