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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

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

The Tax Cuts and Jobs Act, enacted on December 22, 2017 lowered the federal corporate income tax rate from 35% to 21% effective January 1, 2018. The expense for income taxes is summarized below:

		YEAR ENDED DECEMBER 31,
		2018				2017				2016
		(IN THOUSANDS)
Current		$	(1,051	)		$	1,044			$	483
Deferred			2,665				1,679				414
Change in corporate tax rate			—				2,624				—
Income tax expense		$	1,614			$	5,347			$	897

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

The reconciliation between the federal statutory tax rate and the Company’s effective consolidated income tax rate is as follows:

		YEAR ENDED DECEMBER 31,
		2018								2017								2016
		AMOUNT				RATE				AMOUNT				RATE				AMOUNT				RATE
		(IN THOUSANDS, EXCEPT PERCENTAGES)
Income tax expense based on federal statutory rate		$	1,970				21.0	%		$	2,938				34.0	%		$	1,090				34.0	%
Tax exempt income			(131	)			(1.4	)			(283	)			(3.3	)			(255	)			(7.9	)
Other			(225	)			(2.4	)			68				0.8				62				1.9
Change in corporate tax rate			—				—				2,624				30.4				—				—
Total expense for income taxes		$	1,614				17.2	%		$	5,347				61.9	%		$	897				28.0	%

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

The following table highlights the major components comprising the deferred tax assets and liabilities for each of the periods presented:

		AT DECEMBER 31,
		2018				2017
		(IN THOUSANDS)
DEFERRED TAX ASSETS:
Allowance for loan losses		$	1,821			$	2,145
Unfunded commitment reserve			187				192
Unrealized investment security losses			374				87
Premises and equipment			1,056				804
Accrued pension obligation			144				948
Alternative minimum tax credits			—				1,724
Other			255				219
Total tax assets			3,837				6,119
DEFERRED TAX LIABILITIES:
Investment accretion			(90	)			(33	)
Other			(110	)			(123	)
Total tax liabilities			(200	)			(156	)
Net deferred tax asset		$	3,637			$	5,963

Schedule Of Changes In Deferred Taxes [Table Text Block]

The change in net deferred tax assets and liabilities consist of the following:

		YEAR ENDED DECEMBER 31,
		2018				2017
		(IN THOUSANDS)
Unrealized gains recognized in comprehensive income		$	288			$	53
Pension obligation of the defined benefit plan not yet recognized in income			51				(442	)
Deferred provision for income taxes			(2,665	)			(1,679	)
Change in corporate tax rate			—				(2,624	)
Net decrease		$	(2,326	)		$	(4,692	)

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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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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.

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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.

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