Income Tax Provision (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Schedule of income tax provision (benefit) for income taxes from continuing operations

	2012		2011
	($000’s omitted)
Current:
Federal	$	703	$	1,333
State		2		(2	)
		705		1,331
Deferred:
Federal		42		(151	)
State		1		(41	)
		43		(192	)
	$	748	$	1,139

Schedule of income tax (benefit) for income taxes from discontinued operations

	2012			2011
	($000’s omitted)
Current:
Federal	$	(503	)	$	(454	)
State		-			-
		(503	)		(454	)
Deferred:
Federal		(114	)		(17	)
State		(2	)		-
		(116	)		(17	)
	$	(619	)	$	(471	)

Schedule of reconciliation of income tax provision (benefit) from continuing operations and the federal statutory income tax rate

	2012			2011
Federal statutory rate		34.0	%		34.0	%
Deferred tax adjustment		-			(3.3	%)
Business credits		1.8	%		(2.8	%)
ESOP dividend		(2.8	%)		(1.5	%)
Domestic production activities deduction		(1.8	%)		(2.3	%)
Other		-			0.2	%
State income taxes (less federal effect)		0.1	%		(0.6	%)
Effective tax rate		31.3	%		23.7	%

Schedule of deferred tax assets (liabilities)

	2012			2011
	($000’s omitted)
Inventories	$	319		$	380
Accrued employee compensation and benefit costs		316			373
Operating loss and credit carryforwards		252			300
Other		73			38
Minimum pension liability		44			39
Total deferred tax assets		1,004			1,130
Valuation allowance		(233	)		(270	)
Net deferred tax asset		771			860
Property, plant and equipment		(436	)		(602	)
Total deferred tax liabilities		(436	)		(602	)
Net deferred tax asset	$	335		$	258