Note 14 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

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

	201 9			201 8			20 17
	(in thousands)
Current	$	(173	)	$	(346	)	$	—
Deferred		505			121			2,523
Net operating loss		1,725			2,255			(647	)
Establish state deferred tax asset		(1,577	)		—			—
Change in federal statutory rate		—			—			20,274
Change in valuation allowance		—			—			(54,049	)
	$	480		$	2,030		$	(31,899	)

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

	201 9			201 8			20 1 7
	(in thousands)
Federal statutory rate		21	%		21	%		35	%
Federal statutory rate times financial statement income (loss)	$	2,310		$	2,273		$	2,294
Effect of:
Valuation allowance		—			—			(54,049	)
Tax-exempt income		(66	)		(80	)		(196	)
Establish state deferred tax asset		(1,577	)		—			—
Non-taxable life insurance income		(86	)		(92	)		(144	)
Restricted stock vesting		(137	)		(115	)		(121	)
Change in federal statutory rate		—			—			20,274
Other, net		36			44			43
Total	$	480		$	2,030		$	(31,899	)

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

	201 9		201 8
	(in thousands)
Deferred tax assets:
Net operating loss carry-forward	$	22,915	$	24,507
Allowance for loan losses		2,090		1,865
OREO write-down		2,665		2,611
Alternative minimum tax credit carry-forward		173		346
Net assets from acquisitions		228		290
Net unrealized loss on securities		—		515
New market tax credit carry-forward		208		208
Nonaccrual loan interest		303		235
Accrued expenses		102		239
Deferred compensation		—		267
Lease liability		766		—
Other		309		241
		29,759		31,324
Deferred tax liabilities:
FHLB stock dividends		563		557
Fixed assets		57		94
Deferred loan costs		170		136
Net unrealized gain on securities		331		—
Lease right-of-use assets		766		—
Other		107		138
		1,994		925
Net deferred tax assets before valuation allowance		27,765		30,399
Valuation allowance		—		(1,117	)
Net deferred tax assets before valuation allowance	$	27,765	$	29,282