XML 47 R21.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2018
Income Taxes [Abstract] |
Income Taxes | Note 13: Income Taxes The provision for income taxes includes these components:
|  | For The Year Ended December 31, |
($ in thousands) |  | 2018 |  |  | 2017 |
Taxes currently payable |  | $ | 2,482 |  |  | $ | 3,348 |
Impact of TCJA |  |  | - |  |  |  | (1,730 | )
Deferred provision |  |  | 324 |  |  |  | 942 |
Income tax expense |  | $ | 2,806 |  |  | $ | 2,560 |
A reconciliation of income tax expense at the statutory rate to the Company’s actual income tax expense is shown below:
|  | For The Year Ended December 31, |
($ in thousands) |  | 2018 |  |  | 2017 |
Computed at the statutory rate (21% and 34%) |  | $ | 3,033 |  |  | $ | 4,633 |
Increase (decrease) resulting from |  |  |  |  |  |  |  |
Tax exempt interest |  |  | (118 | ) |  |  | (200 | )
BOLI income |  |  | (75 | ) |  |  | (142 | )
Impact of TCJA |  |  | - |  |  |  | (1,730 | )
Stock compensation |  |  | (43 | ) |  |  | (77 | )
Other |  |  | 9 |  |  |  | 76 |
Actual tax expense |  | $ | 2,806 |  |  | $ | 2,560 |
The tax effects of temporary differences related to deferred taxes shown on the balance sheets are:
|  | For The Year Ended December 31, |
($ in thousands) |  | 2018 |  |  | 2017 |
Deferred tax assets |  |  |  |  |  |
Allowance for loan losses |  | $ | 1,715 |  |  | $ | 1,665 |
Net deferred loan fees |  |  | 61 |  |  |  | 63 |
Unrealized losses on available-for-sale securities |  |  | 147 |  |  |  | 38 |
Other |  |  | 215 |  |  |  | 165 |
|  |  | 2,138 |  |  |  | 1,931 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Depreciation |  |  | (950 | ) |  |  | (926 | )
Mortgage servicing rights |  |  | (2,464 | ) |  |  | (2,162 | )
Purchase accounting adjustments |  |  | (1,162 | ) |  |  | (1,102 | )
Prepaids |  |  | (205 | ) |  |  | (169 | )
FHLB stock dividends |  |  | (288 | ) |  |  | (288 | )
|  |  | (5,069 | ) |  |  | (4,647 | )
Net deferred tax liability |  | $ | (2,931 | ) |  | $ | (2,716 | )
The United States Congress enacted significant change to the US tax code on December 22, 2017. Among other changes, the TCJA reduced the US Federal corporate tax rate from 35 percent to 21 percent effective January 1, 2018. For deferred tax assets and liabilities, amounts were remeasured based on the rates expected to reverse in the future, which was 21 percent. As noted above, the Company realized a one-time tax credit due to the TCJA of $1.7 million in 2017.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration