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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Consolidated Provisions for Income Taxes

The consolidated provisions for income taxes for the years ended December 31, 2015 and 2014 were as follows:

		2015				2014
		(Dollars in Thousands)
Federal
Current		$	10			$	4
Deferred		835					1,213
		845					1,217
State
Current		15					13
Deferred		91					599
		106					612
Total		$	951			$	1,829

Schedule of Effective Income Tax Rate

The consolidated tax expense (benefit) differed from the amount computed by applying the federal statutory income tax rate of 26.8%, as described in the following table:

		2015				2014
		(Dollars in Thousands)
Income tax expense at federal statutory rate		$	1,206			$	1,828
Increase (decrease) resulting from:
Tax-exempt interest			(240	)			(276	)
Bank-owned life insurance			(108	)			(111	)
State income tax expense, net of federal income taxes		100					279
Other			(7	)			109
Total		$	951			$	1,829

Effects of Temporary Differences of Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2015 and 2014 are presented below:

		2015				2014
		(Dollars in Thousands)
Deferred tax assets:
Allowance for loan losses		$	1,395			$	2,276
Deferred compensation			1,617				1,586
Deferred commissions and fees			165				181
Impairment OREO			924				1,199
Federal net operating loss carryforwards			3,591				3,360
State net operating loss carryforwards			231				230
Federal alternative minimum tax and general business    credits carryforwards			254				231
Other			467				464
Total gross deferred tax assets			8,644				9,527
Deferred tax liabilities:
Premises and equipment			411				490
Limited partnerships			106				—
Unrealized gain on securities available-for-sale			312				1,098
Other			17				—
Total gross deferred tax liabilities			846				1,588
Net deferred tax asset, included in other assets		$	7,798			$	7,939

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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