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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense (Benefit) | The income tax expense is as follows:
| For the years ended December 31,
| 2019 |  | 2018
Current expense | $ | 1,863 |  |  | $ | 378 |
Deferred expense | 2,362 |  |  | 6,328 |
Total income tax expense | $ | 4,225 |  |  | $ | 6,706 |
Schedule of Effective Income Tax Rate | A reconciliation of the provision for income taxes computed at the statutory federal corporate tax rate of 21% for 2019 and 2018, to the income tax expense in the consolidated statements of operations follows:
| For the years ended December 31,
| 2019 |  | 2018
Expense computed at the statutory federal tax rate | $ | 3,339 |  |  | $ | 5,470 |
State taxes and other, net | 915 |  |  | 1,564 |
Bank-owned life insurance | (29 | ) |  | (328 | )
| $ | 4,225 |  |  | $ | 6,706 |
Effective income tax rate | 26.57 | % |  | 25.74 | %
Schedule of Deferred Assets And Liabilities | The net deferred tax asset is as follows:
| December 31,
| 2019 |  | 2018
Gross deferred tax assets |  |  |
Allowance for loan losses | $ | 2,043 |  |  | $ | 2,279 |
Alternative minimum tax, general business credit and net operating loss carryforwards | 4,452 |  |  | 6,669 |
Lease liability | 1,565 |  |  | — |
Tax deductible goodwill and core deposit intangible | 314 |  |  | 561 |
Other | 741 |  |  | 1,256 |
| 9,115 |  |  | 10,765 |
Gross deferred tax liabilities |  |  |
Net deferred loan origination costs | (1,013 | ) |  | (1,186 | )
Purchase accounting adjustments | (1,623 | ) |  | (1,673 | )
Right of use asset | (1,565 | ) |  | — |
Other | (958 | ) |  | (649 | )
Unrealized gain on securities | (83 | ) |  | (1,022 | )
| (5,242 | ) |  | (4,530 | )
| $ | 3,873 |  |  | $ | 6,235 |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
| December 31,
| 2019 |  | 2018
Beginning of year | $ | 198 |  |  | $ | 129 |
Additions based on tax positions related to the current year | 62 |  |  | 85 |
Additions for tax positions of prior years | — |  |  | 4 |
Reductions due to the statute of limitations and reductions for tax positions of prior years | (16 | ) |  | (20 | )
End of year | $ | 244 |  |  | $ | 198 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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