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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of components of income tax expense

Income tax benefit consisted of the following (in thousands):

 

    Year Ended December 31,  
    2015   2014  
Current:              
Federal   $ (320 )  $ —  
State     —     —  
               
Total Current     (320 )   —  
               
Deferred:              
Federal     (153 )   530  
State     (26 )   91  
Change in Valuation Allowance     179     (621 )
               
Total Deferred     —     —  
               
Total   $ (320 ) $ —  
Schedule of effective income tax rate reconciliation

The reasons for the differences between the statutory Federal income tax rate and the effective tax rate are summarized as follows (dollars in thousands):

 

    Year Ended December 31,  
    2015   2014  
    Amount   % of
Pretax
Earnings		   Amount   %
of Pretax
Loss		  
                           
Income taxes (benefit) at statutory rate   $ (164 )   34%   $ 546     34.0 %
Increase (decrease) resulting from:                          
State taxes, net of Federal tax benefit     (17 )   3.5%     75     3.8 %
Other permanent differences     2     (0.4% )            
Change in valuation allowance     179     (37.1% )   (621 )   (37.8 )%
Uncertain tax position     (320 )   66.3%     —     —  
    $ (320 )   66.3%   $ —     — %

 
Schedule of deferred tax assets and liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below (in thousands).

               
    Year Ended December 31,  
    2015   2014  
Deferred tax assets:              
Net operating loss carryforwards $ 4,005   $ 3,917  
Premises and equipment     52     66  
Impaired securities     —     29  
Foreclosed property expenses     849     764  
Nonaccrual loan interest     399     345  
Unrealized loss on available for sale securities     87     —  
Other     82     79  
               
Gross deferred tax assets     5,474     5,200  
Less: Valuation allowance     5,240     5,061  
               
Net deferred tax assets     234     139  
               
Deferred tax liabilities:              
Allowance for loan losses     (114 )   (114 )
Unrealized gain on available for sale securities     —     (50 )
Loan costs     (37 )   (25 )
    Total deferred tax liabilities     (151 )   (189 )
Net deferred tax asset (liability)   $ 83   $ (50 )
Schedule of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

 

    Year Ended December 31,  
    2015   2014  
               
Balance, beginning of year   $ 320   $ 320  
Additions for tax positions related to current year     —     —  
Additions for tax positions of prior years     —     —  
Settlement due to exam closure     (320 )   —  
               
Balance, end of year   $ —   $ 320