Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	For the Year Ended December 31,
(in thousands)	2019		2018
Current	$	-	$	(2,764	)
Deferred		2,326		5,835
Income tax expense	$	2,326	$	3,071

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	For the Year Ended December 31,
(in thousands)	2019			2018
Provision at statutory tax rates	$	2,814		$	3,448
Add (deduct):
Tax effects of non-taxable income		(344	)		(378	)
Non-deductible interest expense		19			15
Bank-owned life insurance		(109	)		(117	)
Other items, net		(54	)		103
Income tax expense	$	2,326		$	3,071

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

	December 31,
(in thousands)	2019			2018
Allowance for loan and lease losses	$	2,027		$	2,052
Deferred compensation		592			817
Unrealized holding losses on securities available-for-sale		-			1,207
Lease liability		729			-
Other real estate owned valuation		33			125
Deferred intangible assets		166			300
Employee benefits		192			102
Accrued rent expense		-			72
Accrued vacation		42			36
Deferred income		-			51
Depreciation		10			51
Net operating loss carryover		4,348			6,291
Gross deferred tax assets		8,139			11,104
Deferred loan origination costs		(143	)		(192	)
Unrealized holding gains on securities available-for-sale		(812	)		-
Right of use asset		(660	)		-
Deferred income		(22	)		-
Accrued interest		(224	)		(219	)
Gross deferred tax liabilities		(1,861	)		(411	)
Net deferred tax assets	$	6,278		$	10,693