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Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		For the years ended December 31,
		2020				2019
Current expense		$	2,460			$	1,863
Deferred expense			1,137				2,362
Total income tax expense		$	3,597			$	4,225

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		For the years ended December 31,
		2020				2019
Expense computed at the statutory federal tax rate		$	2,680			$	3,339
State and local taxes, net of federal income tax effect			720				892
Other, net			(3	)			(6	)
Valuation allowance for deferred tax assets			200				—
		$	3,597			$	4,225
Effective income tax rate			28.18	%			26.57	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		December 31,
		2020				2019
Gross deferred tax assets
Allowance for loan losses		$	2,075			$	2,043
Alternative minimum tax and net operating loss carryforwards			3,999				4,452
Lease liability			1,358				1,565
Tax deductible goodwill and core deposit intangible			63				314
Other			505				741
			8,000				9,115
Gross deferred tax liabilities
Net deferred loan origination costs			(873	)			(1,013	)
Purchase accounting adjustments			(1,570	)			(1,623	)
Right of use asset			(1,358	)			(1,565	)
Other			(1,180	)			(958	)
Unrealized gain on securities			(78	)			(83	)
			(5,059	)			(5,242	)
Valuation allowance			(200	)			—
		$	2,741			$	3,873

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

		December 31,
		2020				2019
Beginning of year		$	244			$	198
Additions based on tax positions related to the current year			61				62
Additions for tax positions of prior years			2				—
Reductions due to the statute of limitations and reductions for tax positions of prior years			(30	)			(16	)
End of year		$	277			$	244

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.

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