Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes [Abstract]

Schedule of Provision for Income Tax Expense

		Years Ended December 31,
		2018		2017		2016
		(Dollars in thousands)
Current:
Federal		$	446	$	960	$	989
State			4		6		8
Total Current			450		966		997
Deferred:
Federal
	Federal - expected		135		(43)		(222)
	Federal - Deferred tax asset remeasurement(1)		-		262		-
State			-		-		-
Total Deferred			135		219		(222)
Total Income Tax Expense		$	585	$	1,185	$	775

⁽¹⁾ Represents a charge to write-down deferred tax assets due to the enactment of the Tax Act.

Schedule of Reconciliation of Statutory Federal Income Tax

	Years Ended December 31,
	2018		2017		2016
Federal income tax at statutory rate	21.0	%	34.0	%	34.0	%
State benefit, net of federal expense	(2.9)		(2.2)		(0.8)
Tax-exempt interest income	(7.3)		(12.3)		(14.7)
Deferred tax valuation allowance	3.0		2.3		1.0
Deferred tax remeasurement due to Tax Act	-		5.8		-
Life insurance income	(1.8)		(2.7)		(2.2)
Other	0.8		1.1		0.8
Total Income Tax Expense	12.8	%	26.0	%	18.1	%

Schedule of Deferred Tax Assets and Liabilities

	December 31,
	2018		2017
	(Dollars in thousands)
Deferred tax assets:
Deferred compensation	$	1,091	$	1,062
Allowance for loan losses		879		838
Net Operating Loss ("NOL")		347		223
Impairment of equity investments		127		128
Accrued expenses		111		103
Stock options granted		9		5
Alternative Minimum Tax ("AMT") credit		-		180
Other		50		5
Total Deferred Tax Assets		2,614		2,544
Deferred tax liabilities:
Deferred loan origination costs		(856)		(801)
Depreciation		(322)		(296)
Prepaid expenses		(79)		(92)
Unrealized gains on securities available for sale		(34)		(251)
Total Deferred Tax Liabilities		(1,291)		(1,440)
Deferred tax valuation allowance		(638)		(502)
Net Deferred Tax Asset	$	685	$	602