Income Tax (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Schedule of Income tax provision

Income tax provision (credit) consists of the following (in thousands):

	2012			2011		2010
Current	$	1,552		$	809	$	546
Deferred		(122	)		150		175
Total income tax provision	$	1,430		$	959	$	721

Schedule of Income tax provision calculated at the statutory federal income tax rate

Income tax provision calculated at the statutory federal income tax rate of 34% differs from actual income tax provision as follows (in thousands):

	2012			2011			2010
Income tax at statutory rate	$	1,965		$	1,483		$	1,298
Tax-exempt interest income, net		(358	)		(311	)		(289	)
Earnings on life insurance assets, including gain from proceeds in 2010		(113	)		(118	)		(172	)
Low income housing partnership tax credits		(127	)		(127	)		(127	)
Write-off capital loss carryforward		—			—			60
Change in valuation allowance		—			—			(54	)
Other items, net		63			32			5
Totals	$	1,430		$	959		$	721

Schedule of deferred tax assets and liabilities

Deferred tax assets and liabilities consist of the following at December 31 (in thousands):

	2012			2011
Deferred tax assets:
Allowance for loan losses	$	1,425		$	1,134
Deferred compensation and supplemental retirement liability		835			769
Pension liability		259			170
Nonaccrual loan interest		292			252
Tax credit carryforwards		387			655
Stock based compensation		189			175
Other		172			157
Total deferred tax assets		3,559			3,312
Deferred tax liabilities:
Mortgage servicing rights		(423	)		(329	)
Goodwill		(211	)		(211	)
Purchase accounting adjustments		(533	)		(646	)
Net unrealized gain on available for sale securities		(413	)		(465	)
Depreciation		(310	)		(296	)
Other		(165	)		(124	)
Total deferred tax liabilities		(2,055	)		(2,071	)
Net deferred tax assets, included in other assets	$	1,504		$	1,241