INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Provision For Income Taxes [Table Text Block]

The provision for income taxes (in thousands) consists of:

	2014		2013		2012
Current provision	$	1,443	$	1,522	$	1,378
Deferred provision (benefit)		(12)		(251)		(201)
Total income tax expense	$	1,431	$	1,271	$	1,177

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Year-end deferred tax assets and liabilities (in thousands) consist of:

Items giving rise to deferred tax assets	2014		2013
Allowance for loan losses in excess of tax reserve	$	1,070	$	1,144
Deferred compensation		346		304
Restricted stock awards		39		31
Nonaccrual loan interest		27		15
Deferred loan fees and costs		49		7
Accrued expenses and other		11		1
Total		1,542		1,502
Items giving rise to deferred tax liabilities
Depreciation		(333)		(220)
FHLB stock dividend		(309)		(309)
Unrealized gain on securities available for sale		(132)		(178)
Prepaid expenses and other		(47)		(132)
Total		(821)		(839)
Net deferred tax asset	$	721	$	663

Federal Income Tax Note [Table Text Block]

Income tax expense attributable to continuing operations (in thousands) is reconciled between the financial statement provision and amounts computed by applying the statutory federal income tax rate of 34% to income before income taxes as follows:

	2014		2013		2012
Tax at statutory rates	$	1,607	$	1,471	$	1,399
Increase (decrease) in tax resulting from:
Tax exempt income		(179)		(199)		(246)
Other		3		(1)		24
Total income tax expense	$	1,431	$	1,271	$	1,177