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Note 10 - Federal Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Allowance for loan losses $ 7,973,000 $ 5,017,000
Deferred compensation 511,000 577,000
Stock compensation 541,000 720,000
Nonaccrual loan interest income 211,000 239,000
Deferred loan fees 924,000 104,000
Deferred Tax Assets, Capital Loss Carryforwards 0 94,000
Fair value write-downs on foreclosed properties 537,000 26,000
Other 938,000 683,000
Deferred tax asset before valuation allowance 11,635,000 7,460,000
Valuation allowance 0 (94,000)
Deferred tax asset after valuation allowance 11,635,000 7,366,000
Depreciation 1,175,000 1,743,000
Prepaid expenses 297,000 269,000
Core deposit intangible 498,000 787,000
Mortgage loan servicing rights 1,720,000 977,000
Unrealized gain on securities 1,458,000 982,000
Business combination adjustments 2,142,000 2,058,000
Other 521,000 485,000
Deferred tax liability 7,811,000 7,301,000
Total net deferred tax asset $ 3,824,000 $ 65,000