Income Taxes (Tables)

9 Months Ended

Sep. 30, 2016

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 September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Federal income tax provision at statutory rate of 35%	$	110		$	127		$	717		$	1,947
Dividends-received deduction		(25	)		(21	)		(71	)		(75	)
Small life insurance company deduction		-			51			-			(572	)
Other permanent differences		12			9			45			29
Adjustment for prior years’ estimates to actual		71			(39	)		71			(39	)
Income tax expense	$	168		$	127		$	762		$	1,290

Components of income tax expense

The components of income tax expense were:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2016		2015			2016		2015
Current - Federal	$	11	$	(532	)	$	601	$	587
Deferred - Federal		157		659			161		703
Total	$	168	$	127		$	762	$	1,290