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NET DEFERRED TAX ASSET AND INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Components of income tax provision
Years ended December 31, (in thousands)    2019      2018      2017  
Federal  $2,406   $1,986   $1,831 
State   344    217    195 
Current provision   2,750    2,203    2,026 
Federal   (317)   (455)   840 
State   (74)   (39)   48 
Deferred (benefit) expense   (391)   (494)   888 
Income tax provision  $2,359   $1,709   $2,914 
Reconciliation of expected federal statutory tax to income tax provision
Years ended December 31,    2019      2018      2017  
Income tax at statutory federal tax rate   21.00%   21.00%   34.00%
State tax, net of federal tax benefit   1.58    1.37    1.74 
Tax exempt income and dividends received deduction   (3.82)   (3.84)   (7.00)
Remeasurement of net deferred tax assets           4.85 
BOLI interest and gain   (0.61)   (1.35)   (1.34)
Other   (0.67)   (0.95)   (0.47)
Change in valuation allowance            
Effective income tax rates   17.48%   16.23%   31.78%
Components of net deferred tax assets
December 31, (in thousands)    2019      2018  
Allowance for loan losses  $2,174   $1,916 
Interest on non-performing loans   244    233 
Accrued deferred compensation   493    334 
Post-retirement benefits   11    11 
Other real estate owned write-downs   30     
Restricted stock awards   220    162 
Net unrealized holding loss on available for sale securities       58 
Write-down of securities   2    4 
Other   139    282 
Gross deferred tax assets   3,313    3,000 
Deferred loan costs, net   (329)   (344)
Mark-to-market purchase accounting adjustments   (44)   (37)
Goodwill and core deposit intangible asset   (570)   (545)
Accelerated depreciation   (703)   (698)
Other real estate owned write-downs       (45)
Mortgage servicing rights   (58)   (55)
Net unrealized holding gains on available-for-sale securities   (360)    
Gross deferred tax liabilities   (2,064)   (1,724)
Net deferred tax asset  $1,249   $1,276