Income taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

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

The following summarizes the tax effects of temporary differences which comprise net deferred tax assets and liabilities at December 31, 2016 and 2015 (in thousands):

	2016		2015
Deferred tax assets
Net operating loss carryforward	$	7,471	$	8,475
Capital loss carryforward		14		69
State net operating loss carryfoward		50		11
Allowance for loan losses		1,147		1,211
Unrealized loss on available-for-sale securities		93		226
Interest on nonaccrual loans		41		50
Expenses and writedowns related to foreclosed property		883		991
Stock compensation		253		140
Employee benefits		1,079		1,015
Pension expense		31		35
Depreciation		144		-
Lease Obligation		74		-
Other, net		71		38
Goodwill		23		39
Total deferred tax assets		11,374		12,300
Deferred tax liabilities
Depreciation		-		43
Amortization of intangibles		1		34
Total deferred tax liabilities		1		77
Net deferred tax asset prior to valuation allowance		11,373		12,223
Less Unrealized gain on available-for-sale securities		-		(226)
Net deferred tax asset subject to valuation allowance		-		11,997
Less valuation allowance		-		11,997
Net deferred tax asset	$	11,373	$	226

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

The income tax expense (benefit) charged to operations for the years ended December 31, 2016, 2015 and 2014 consists of the following (in thousands):

	2016		2015		2014
Current tax expense (benefit)	$	12	$	-	$	67
Deferred tax expense (benefit)		813		277		(401)
Valuation allowance		(11,997)		(277)		334
Provision (benefit) for income taxes	$	(11,172)	$	-	$	-

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

A reconciliation of income taxes computed at the federal statutory income tax rate to total income taxes is as follows for the years ended December 31, 2016, 2015 and 2014 (in thousands):

	2016		2015		2014
Net income (loss) before income taxes	$	2,341	$	646	$	(1,037)
Computed "expected" tax expense (benefit)	$	796	$	220	$	(352)
Valuation allowance change		(11,997)		(277)		334
State taxes, net of fed		(39)		-		44
Cash surrender value of life insurance		(63)		(62)		(62)
Other		131		119		36
Provision (benefit) for income taxes	$	(11,172)	$	-	$	-