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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes [Abstract]

Income Tax Expense

	2015			2014
Current Federal	$	58		$	-
Deferred Federal		(3,251)			-
Total	$	(3,193)		$	-

Effective Tax Rates Differ from Federal Statutory Rate

	2015			2014
Federal Statutory rate times financial statement income (loss)	$	436		$	163
Effect of:
Incentive Stock Options		33			75
Bank owned life insurance income		(45)			(44)
Increase (decrease) in deferred tax valuation allowance		(3,656)			(201)
Other		39			7
	$	(3,193)		$	-
Effective tax rate		-249%			0%

Deferred Tax Assets and Liabilities

	2015			2014
Deferred tax assets:
Allowance for loan losses	$	1,497		$	1,413
Post-retirement death benefits		73			73
Deferred compensation		241			169
Deferred loan fees		118			116
AMT Credit		105			75
Nonaccrual interest		132			110
Net operating loss carry forward		1,580			2,112
Other		2			67
		3,748			4,135
Deferred tax liability:
FHLB stock dividend		366			366
Mortgage servicing rights		4			5
Depreciation		43			14
Prepaid expenses		78			61
Mark-to-market Loans		3			33
		494			479
Net deferred tax asset before valuation allowance		3,254			3,656
Deferred tax valuation allowance		-			(3,656)
Net deferred tax asset	$	3,254		$	-

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- References

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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

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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

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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

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