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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes [Abstract]

Schedule of provision for income taxes

		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

Schedule of reconciliation of income tax expense

		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

Schedule of deferred tax

		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	)

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- References

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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

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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

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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

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