Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes [Abstract]

Income Tax Expense

	December 31, 2018		December 31, 2017
Current federal	$	972	$	1,133
Deferred federal (1)		85		3
Revaluation of net deferred tax assets		-		979
Total	$	1,057	$	2,115

⁽¹⁾ Includes tax benefit of operating loss carryforwards of $34 and $52 for the years ended December 31, 2018 and 2017, respectively.

Effective Tax Rates Differ From Federal Statutory Rate

	December 31, 2018		December 31, 2017
Federal Statutory rate times financial statement income	$	1,119	$	1,177
Effect of:
Stock compensation		(13)		(49)
Bank owned life insurance income		(29)		(46)
Revaluation of net deferred tax assets		-		979
Low income housing tax credits		(30)		-
Other		10		54
	$	1,057	$	2,115
Effective tax rate		20%		61%

Deferred Tax Assets And Liabilities

	2018		2017
Deferred tax assets:
Allowance for loan and lease losses	$	1,085	$	997
Compensation related issues		273		274
Deferred loan fees		6		100
Nonaccrual interest		45		45
Net operating loss carry forward		467		501
Other		40		42
		1,916		1,959
Deferred tax liabilities:
FHLB stock dividend		226		226
Mortgage servicing rights		-		1
Depreciation		82		36
Prepaid expenses		48		51
		356		314
Net deferred tax asset	$	1,560	$	1,645