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Income Taxes (Tables)

12 Months Ended

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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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.

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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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Tabular disclosure of the change in unrecognized tax benefits.

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