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Note 9 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

(in thousands)

 

Year Ended December 31,

 
   

2015

   

2014

   

2013

 
                         

Current

                       

Federal

  $ 313     $ -     $ -  

State

    (38 )     268       (21 )

Total

    275       268       (21 )
                         

Deferred

                       

Federal

    789       (15,140 )     (318 )

State

    294       122       -  

Total

    1,083       (15,018 )     (318 )
                         

Benefit for income taxes

  $ 1,358     $ (14,750 )   $ (339 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
   

Year Ended December 31,

 
(in thousands)  

2015

   

2014

   

2013

 
                         
Income taxes at statutory Federal rate   $ 1,190     $ 326     $ (2,593 )

State taxes, net of Federal benefit

    169       48       (21 )

Nondeductible expenses

    10       175       6  

Change in cash surrender value of life insurance

    -       -       (178 )

Taxes on BOLI income

    -       1,701       -  

Valuation allowance

    -       (16,812 )     -  

Tangible Property Review IRC Sec 481(a)

    -       (644 )        

Current Year Change in valuation allowance

    -       (39 )     2,447  

Other

    (11 )     495       -  
Total Expense (benefit) for income taxes   $ 1,358     $ (14,750 )   $ (339 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
(in thousands)  

2015

   

2014

   

2013

 
                         
Deferred tax assets (liabilities):                        

Allowance for loan losses

  $ 2,042     $ 1,918     $ 2,213  

Nonaccrual interest

    1,467       1,508       1,474  

Depriciation of premises and equipment

    541       523       1,276  

Accrued expenses

    106       292       376  

Share-based Compensation

    161       -       -  

OREO Writedowns

    63       63       -  

Capital loss carryover

    -       572       572  

State NOL carryforward benefit

    3,235       3,435       3,613  

Federal NOL carryforward benefit

    16,303       17,372       18,427  

NOL write-off for § 382 Limitation

    (10,382 )     (10,382 )     (10,382 )

Federal AMT benefit estimate

    136       -       -  

Unrealized loss AFS

    96       176       462  

Other

    (5 )     21       37  
Gross deferred tax assets     13,763       15,498       18,068  

Valuation allowance

    -       (572 )     (18,068 )

Deferred tax assets, net of valuation allowance

    13,763       14,926       -  
Deferred tax asset, net   $ 13,763     $ 14,926     $ -