Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Notes Tables

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

(in thousands)	YEARS ENDED DECEMBER 31,
	2018			2017
Current
Federal	$	2,711		$	3,185
State		1,927			1,447
		4,638			4,632
Deferred
Federal		(494	)		1,380
State		(334	)		135
		(828	)		1,515
	$	3,810		$	6,147

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

(in thousands)	DECEMBER 31,
	2018			2017
Deferred tax assets:
Allowance for loan losses	$	2,568		$	2,415
Restricted stock expense		95			1
Accrued vacation		80			72
Accrued salary continuation liability		1,035			901
Deferred compensation		76			77
Core deposit intangible		58			44
Merger Costs		95			103
Reserve for undisbursed commitments		117			90
OREO expenses		173			173
State income tax		405			304
Holding company organization fees		12			15
Unrealized loss on securities available for sale		183			0
		4,897			4,195
Deferred tax liabilities:
Prepaid expenses		(117	)		(418	)
FHLB dividends		(144	)		(158	)
Accumulated depreciation		(9	)		(102	)
Accrued bonus		(2	)		1
Deferred loan costs		(353	)		(330	)
Goodwill Amortization		(196	)		(131	)
Limited partner investment in small business equity fund		(9	)		0
Unrealized gain on securities available for sale		0			(415	)
		(830	)		(1,553	)
Net deferred income tax asset	$	4,067		$	2,642

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

	YEARS ENDED DECEMBER 31,
	2018			2017
Federal statutory income tax rate		21.0	%		34.0	%
State taxes, net of federal tax benefit		8.6	%		7.2	%
Tax exempt interest on municipal securities and loans		-3.5	%		-5.2	%
Deferred tax asset re-measurement		0.0	%		6.5	%
Other		-1.3	%		-2.2	%
Effective tax rate		24.8	%		40.3	%