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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit) attributable to income from operations consisted of the following:

 

    Years ended December 31,  
(Dollars in thousands)    2018     2017     2016  
Current:                        
Federal   $ 396     $ (1,108 )   $ 1,298  
State     (197 )     (276 )     97  
Total current     199       (1,384 )     1,395  
Deferred:                        
Federal     875       768       797  
State     155       27       248  
Total deferred     1,030       795       1,045  
Deferred tax valuation allowance     (146 )     44       (126 )
Deferred tax remeasurement     85       (352 )     -  
Income tax (benefit) expense   $ 1,168     $ (897 )   $ 2,314  
Schedule of Effective Income Tax Rate Reconciliation

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

 

    Years ended December 31,  
(Dollars in thousands)    2018     2017     2016  
Computed “expected” tax expense   $ 2,435     $ 1,180     $ 3,833  
(Reduction) increase in income taxes resulting from:                        
Tax-exempt interest income, net     (850 )     (1,346 )     (1,220 )
Deferred tax remeasurement     85       (352 )     -  
REIT excise tax     -       249       -  
Excess tax benefit from stock option exercise     (119 )     (107 )     (283 )
Bank owned life insurance     (140 )     (316 )     (177 )
Reversal of unrecognized tax benefits, net     (512 )     (197 )     (125 )
State income taxes, net of federal benefit     364       61       269  
Investment tax credits     (24 )     (7 )     (11 )
Other, net     (71 )     (62 )     28  
    $ 1,168     $ (897 )   $ 2,314  
Schedule of Deferred Tax Assets and Liabilities

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:

 

    As of December 31,  
(Dollars in thousands)   2018     2017  
Deferred tax assets:                
Federal alternative minimum tax credit and low income housing credit carry forwards   $ -     $ 2,485  
Loans, including allowance for loan losses     1,489       1,419  
Net operating loss carry forwards     383       529  
State taxes     398       413  
Acquisition costs     202       224  
Deferred compensation arrangements     78       88  
Unrealized loss on investment securities available-for-sale     1,295       132  
Investments     33       46  
Other, net     26       46  
Total deferred tax assets     3,904       5,382  
Less valuation allowance     (383 )     (529 )
Total deferred tax assets, net of valuation allowance     3,521       4,853  
                 
Deferred tax liabilities:                
Undistributed equity earnings     -       1,539  
Premises and equipment, net of depreciation     447       454  
Mortgage servicing rights     464       470  
Prepaid expenses     209       210  
Intangible assets     92       12  
FHLB stock dividends     56       74  
Other borrowings     -       35  
Total deferred tax liabilities     1,268       2,794  
                 
Net deferred tax asset   $ 2,253     $ 2,059  
Schedule of Unrecognized Tax Benefits

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

 

    Years ended December 31,  
(Dollars in thousands)   2018     2017  
Unrecognized tax benefits at beginning of year   $ 1,505     $ 1,809  
Gross increases to current year tax positions     464       50  
Gross decreases to prior year’s tax positions     (2 )     (10 )
Lapse of statute of limitations     (495 )     (344 )
Unrecognized tax benefits at end of year   $ 1,472     $ 1,505