Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Expense (Benefit) for Income Taxes

The expense (benefit) for income taxes consisted of the following (in thousands):

Year ended December 31,	2016			2015
Current	$	1,054		$	303
Deferred		(88	)		(490	)
	$	966		$	(187	)

Summary of Reasons for Differences Between Statutory Federal Income Tax Rates and Effective Tax Rates

The reasons for the differences between the statutory Federal income tax rates and the effective tax rates are summarized as follows:

	2016			2015
Statutory rate		34.0	%		34.0	%
Increase (decrease) resulting from:
Tax exempt interest		-6.1	%		-116.9	%
Bank owned life insurance		-2.7	%		-46.9	%
Merger costs		2.5	%		—
Other, net		-0.1	%		25.3	%
		27.6	%		-104.5	%

Components of Net Deferred Tax Assets and Liabilities

The components of the net deferred tax assets and liabilities included in other assets are as follows (in thousands):

December 31,	2016			2015
Deferred tax assets
Allowance for loan losses	$	908		$	985
Interest on non-accrual loans		130			89
Other real estate		446			419
Pension plan		242			233
Postretirement benefits		184			227
Unrealized losses (gains) on available-for-sale securities		268			(55	)
Deferred compensation		191			162
Stock-based compensation		30			31
Other		27			20
Total deferred tax assets		2,426			2,111
Deferred tax liabilities
Depreciation		(126	)		(171	)
Amortization of goodwill		(955	)		(955	)
Net deferred loan fees and costs		(133	)		(110	)
Other		(58	)		(64	)
Total deferred tax (liabilities)		(1,272	)		(1,300	)
Net deferred tax assets	$	1,154		$	811