XML 104 R41.htm IDEA: XBRL DOCUMENT v2.4.0.8

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

Components of Income Tax Expense

The components of income tax expense for the years ended December 31, 2013 and 2012 were as follows:

(In thousands)		2013				2012
Current		$	2,055			$	2,037
Deferred			200				(478	)
Totals		$	2,255			$	1,559

Reconciliation of Income Tax Expense

The reconciliation of income tax expense for the years ended December 31, 2013 and 2012, with the amount which would have been provided at the federal statutory rate of 34% follows:

(In thousands)		2013				2012
Provision at federal statutory tax rate		$	2,496			$	1,868
State income tax-net of federal tax benefit			214				102
Tax-exempt interest income			(402	)			(353	)
Increase in cash value of life insurance			(54	)			(62	)
Other			1				4
Totals		$	2,255			$	1,559
Effective tax rate			30.7	%			28.4	%

Significant Components of Deferred Tax Assets and Liabilities

Significant components of the deferred tax assets and liabilities as of December 31, 2013 and 2012 were as follows:

(In thousands)		2013				2012
Deferred tax assets (liabilities):
Deferred compensation plans		$	102			$	112
Allowance for loan losses			1,661				1,645
Accrued early retirement			32				189
Other			157				92
Unrealized loss on securities available for sale			443				0
Deferred tax assets			2,395				2,038
Depreciation			(664	)			(580	)
Deferred loan fees and costs			(86	)			(54	)
FHLB stock dividends			(99	)			(101	)
Unrealized gain on securities available for sale			0				(959	)
Deferred tax liabilities			(849	)			(1,694	)
Net deferred tax asset		$	1,546			$	344

X

- 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

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration