Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes [Abstract]

Income Tax Expense

	December 31, 2017		December 31, 2016
Current federal	$	1,133	$	187
Deferred federal (1)		3		623
Revaluation of net deferred tax assets		979		-
Total	$	2,115	$	810

⁽¹⁾ Includes tax benefit of operating loss carryforwards of  $52 and  $717 for the years ended December 31, 2017 and 2016, respectively.

Effective Tax Rates Differ from Federal Statutory Rate

	December 31, 2017		December 31, 2016
Federal Statutory rate times financial statement income (loss)	$	1,177	$	829
Effect of:
Stock compensation		(49)		6
Bank owned life insurance income		(46)		(45)
Revaluation of net deferred tax assets		979		-
Other		54		20
	$	2,115	$	810
Effective tax rate		61%		33%

Deferred Tax Assets and Liabilities

	2017		2016
Deferred tax assets:
Allowance for loan and lease losses	$	997	$	1,575
Compensation related issues		274		353
Deferred loan fees		100		155
AMT Credit		-		50
Nonaccrual interest		45		41
Net operating loss carry forward		501		863
Other		42		70
		1,959		3,107
Deferred tax liability:
FHLB stock dividend		226		366
Mortgage servicing rights		1		2
Depreciation		36		47
Prepaid expenses		51		63
Mark-to-market loans		-		2
		314		480
Net deferred tax asset	$	1,645	$	2,627