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8. Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Components of Income Tax Expense (Benefit)

(Dollars in thousands)
		2016				2015				2014
Current expense		$	1,464				2,427				1,759
Deferred income tax expense			1,097				673				178
Total income tax		$	2,561				3,100				1,937

Schedule of Effective Income Tax Rate Reconciliation

(Dollars in thousands)
		2016				2015				2014
Tax expense at statutory rate (34%)		$	3,991				4,329				3,851
State income tax, net of federal income tax effect			339				494				(283	)
Tax-exempt interest income			(1,681	)			(1,682	)			(1,630	)
Increase in cash surrender value of life insurance			(138	)			(143	)			(143	)
Nondeductible interest and other expense			78				103				119
Other			(28	)			(1	)			23
Total		$	2,561				3,100				1,937

Schedule of Deferred Tax Assets and Liabilities

(Dollars in thousands)
		2016				2015
Deferred tax assets:
Allowance for loan losses		$	2,717				3,513
Accrued retirement expense			1,616				1,574
Other real estate			-				33
Federal credit carryforward			326				-
State credit carryforward			14				-
Restricted stock			745				417
Accrued bonuses			216				238
Interest income on nonaccrual loans			27				88
Other than temporary impairment			14				374
Other			23				16
Total gross deferred tax assets			5,698				6,253
Deferred tax liabilities:
Deferred loan fees			797				588
Accumulated depreciation			532				172
Prepaid expenses			78				59
Other			23				70
Unrealized gain on available for sale securities			1,807				3,308
Total gross deferred tax liabilities			3,237				4,197
Net deferred tax asset		$	2,461				2,056

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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=65882285&loc=d3e32639-109319

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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=65882285&loc=d3e32537-109319

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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=65882285&loc=d3e32687-109319

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