Income Taxes (Tables)

3 Months Ended

Mar. 31, 2015

Income Taxes [Abstract]

Reconciliation of income tax expense

A reconciliation of the differences between income taxes computed at the federal statutory income tax rate and income tax expense is as follows:

	Three Months Ended March 31,
	2015			2014
Federal income tax provision at statutory rate of 35%	$	354		$	348
Dividends-received deduction		(27	)		(31	)
Small life insurance company deduction		(18	)		(116	)
Other permanent differences		10			10
Change in asset valuation allowance due to change in judgment relating to realizability of deferred tax assets		-			(38	)
Income tax expense	$	319		$	173

Components of income tax expense

The components of income tax expense were:

	Three Months Ended March 31,
	2015		2014
Current – Federal	$	11	$	63
Deferred – Federal		308		148
Change in deferred tax asset valuation allowance		-		(38	)
Total	$	319	$	173