Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes Tables

Schedule of Components of Income Tax Expense

	2012		2011
	(In thousands)
Taxes currently payable	$	7	$	483
Deferred income taxes		371		(249	)
Income tax expense	$	378	$	234

Reconciliation of Income Tax Expense

	2012			2011
	(In thousands)
Computed at the statutory rate (34%)	$	714		$	533
Increase (decrease) resulting from
Tax exempt interest		(284	)		(222	)
Earnings on bank-owned life insurance		(80	)		(85	)
Other		28			8
Actual tax expense	$	378		$	234

Schedule of Deferred Tax Assets and Liabilities

	2012			2011
	(In thousands)
Deferred tax assets
Deferred loan origination fees	$	193		$	139
Allowance for loan losses		1,132			1,310
Real estate owned valuation		17			388
Pension adjustment		372			349
Reserve for uncollected interest		150			109
Benefit plan expenses		109			116
AMT credit carryover and low income housing credit		96			—
Total deferred tax assets		2,069			2,411
Deferred tax liabilities
Prepaid pension		(128	)		(119	)
Federal Home Loan Bank stock dividends		(1,217	)		(1,217	)
Book/tax depreciation differences		(437	)		(423	)
Financed loan fees		(98	)		(85	)
Unrealized gains on securities available-or-sale		(1,190	)		(1,317	)
Mortgage servicing rights		(83	)		(84	)
Purchase price adjustments – net		(44	)		(74	)
Total deferred tax liabilities		(3,197	)		(3,319	)
Net deferred tax liability	$	(1,128	)	$	(908	)