Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Provision for Income Tax Expense (Benefit)

The provision for income tax expense (benefit) for the years ended December 31, 2014, December 31, 2013, and December 31, 2012, consisted of the following:

	2014			2013			2012
Current
Federal	$	—			(32	)		210
State		30			110			120
		30			78			330
Deferred
Federal		(231	)		566			487
State		—			—			—
		(231	)		566			487
	($	201	)		644			817

Reconciliation of Federal Income Tax Rate

Total income tax expense for the years ended December 31, 2014, 2013, and 2012 differed from the amounts computed by applying the federal income tax rate of 34 percent to income before income taxes as follows:

	2014			2013			2012
Expected federal income tax expense at statutory tax rate	$	748			1,498			1,661
Effect of nontaxable interest income		(724	)		(590	)		(575	)
Effect of nontaxable bank owned life insurance income		(104	)		(120	)		(136	)
Effect of QSCAB credit		(220	)		(220	)		(220	)
State taxes on income, net of federal benefit		84			73			79
Other tax credits		(80	)		(80	)		(64	)
Non deductible expenses		95			83			72
Total income tax expense	($	201	)		644			817
Effective rate		(10.1	%)		14.6	%		16.7	%

Components of Deferred Taxes

The components of deferred taxes as of December 31, 2014, and December 31, 2013, are summarized as follows:

	2014			2013
Deferred tax assets:
Allowance for loan loss	$	2,116			2,952
Accrued expenses		1,482			310
Intangible amortization		981			1,184
Other		287			275
Unrealized loss on items in comprehensive income		—			736
Other real estate owned		95			63
		4,961			5,520
Deferred tax liabilities:
FHLB stock dividends		(787	)		(787	)
Unrealized gain on items in comprehensive income		(1,832	)		—
Depreciation and amortization		(81	)		(123	)
		(2,700	)		(910	)
Net deferred tax asset (liability)	$	2,261			4,610