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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of components of the provision for income taxes |
|  | Years Ended December 31, |
|  | 2019 |  | 2018 |
Current expense (benefit): |  |  |  |  |  |  |
Federal |  | $ | 1,621 |  | $ | 900 |
State |  |  | 2 |  |  | 12 |
Total |  |  | 1,623 |  |  | 912 |
Deferred expense: |  |  |  |  |  |  |
Federal |  |  | (94) |  |  | 102 |
Total provision for income taxes |  | $ | 1,529 |  | $ | 1,014 |
Schedule of differences between the provision for income taxes and statutory federal income tax rate |
|  | Years ended December 31, |
|  | 2019 |  | 2018 |
Provision at statutory rate |  | $ | 1,573 |  | 21 | % | $ | 1,128 |  | 21 | %
Tax exempt income |  |  | (84) |  | (1) | % |  | (92) |  | (1) | %
State income taxes, net of federal income tax benefit |  |  | 12 |  | 0 | % |  | 18 |  | 0 | %
Other, net |  |  | 28 |  | 0 | % |  | (40) |  | (1) | %
Effective income tax and rate |  | $ | 1,529 |  | 20 | % | $ | 1,014 |  | 19 | %
Schedule of tax effects of temporary differences of the deferred tax assets and deferred tax liabilities |
|  | December 31,
|  | 2019 |  | 2018
Deferred tax assets: |  |  |  |  |  |
Allowance for loan losses |  | $ | 1,608 |  | $ | 1,794
Deferred expenses |  |  | 937 |  |  | 783
Unrecognized pension liability |  |  | 1,038 |  |  | 1,179
Postretirement liability |  |  | 932 |  |  | 914
Deferred loss on OREO |  |  | 187 |  |  | 187
Unrealized loss on securities |  |  | 53 |  |  | 685
State tax NOLs |  |  | 870 |  |  | 779
Other |  |  | 201 |  |  | 134
Gross deferred tax assets |  |  | 5,826 |  |  | 6,455
Deferred tax liabilities: |  |  |  |  |  |
Prepaid expenses |  |  | (209) |  |  | (241)
Prepaid pension |  |  | (1,248) |  |  | (1,305)
Deferred loan fees |  |  | (207) |  |  | (170)
Depreciation and amortization |  |  | (104) |  |  | (105)
Mortgage servicing rights |  |  | (601) |  |  | (615)
Gross deferred tax liabilities |  |  | (2,369) |  |  | (2,436)
Net deferred tax asset |  |  | 3,457 |  |  | 4,019
Deferred tax valuation allowance |  |  | (1,202) |  |  | (1,085)
Deferred tax assets, net of allowance |  | $ | 2,255 |  | $ | 2,934

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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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