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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Income tax expense attributable to income from operations consisted of:

(Dollars in thousands)		Years ended December 31,
		2015			2014			2013
Current:
Federal		$	2,858		$	2,465		$	1,178
State			431			664			(14)
Total current			3,289			3,129			1,164
Deferred:
Federal			641			(19)			(375)
State			(56)			(122)			(76)
Total deferred			585			(141)			(451)
Deferred tax valuation allowance			40			38			33
Income tax expense		$	3,914		$	3,026		$	746

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The reasons for the difference between actual income tax expense (benefit) and expected income tax expense attributable to income from operations at the 34% statutory federal income tax rate were as follows:

(Dollars in thousands)		Years ended December 31,
		2015			2014			2013
Computed “expected” tax expense		$	4,903		$	3,766		$	1,836
(Reduction) increase in income taxes resulting from:
Tax-exempt interest income, net			(1,104)			(970)			(861)
Bank owned life insurance			(178)			(182)			(201)
Reversal of unrecognized tax benefits, net			(138)			63			(207)
State income taxes, net of federal benefit			412			320			169
Investment tax credits			(11)			(12)			(26)
Other, net			30			41			36
		$	3,914		$	3,026		$	746

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences that give rise to the significant portions of the deferred tax assets and liabilities at the following dates were as follows:

(Dollars in thousands)		As of December 31,
		2015			2014
Deferred tax assets:
Federal alternative minimum tax credit and low income housing credit carry forwards		$	123		$	1,083
Loans, including allowance for loan losses			2,614			2,392
Net operating loss carry forwards			611			571
State taxes			813			683
Acquisition costs			428			461
Intangible assets			205			294
Deferred compensation arrangements			174			189
Valuation allowance on other real estate			-			8
Investment impairments			48			48
Other, net			34			49
Total deferred tax assets			5,050			5,778
Deferred tax liabilities:
Unrealized gain on investment securities available-for-sale			1,234			1,035
Premises and equipment, net of depreciation			900			908
FHLB stock dividends			78			138
Other borrowings			193			261
Investments			2			9
Total deferred tax liabilities			2,407			2,351
Less valuation allowance			(611)			(571)
Net deferred tax asset		$	2,032		$	2,856

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

A reconciliation of the beginning and ending amount of the liability relating to unrecognized tax benefits is as follows:

(Dollars in thousands)		Years ended December 31,
		2015			2014
Unrecognized tax benefits at beginning of year		$	1,449		$	926
Gross increases to current year tax positions			645			497
Gross increases (decreases) to prior year’s tax positions			(2)			72
Lapse of statute of limitations			(292)			(46)
Unrecognized tax benefits at end of year		$	1,800		$	1,449

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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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.

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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.

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-Publisher FASB
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Tabular disclosure of the change in unrecognized tax benefits.

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