Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

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

	Years Ended
	December 31,
	2019		2018
	(In Thousands)
Current
U.S. federal	$	1,445	$	(123	)
Montana		912		349
Total current income tax provision		2,357		226
Deferred
U.S. federal		690		609
Montana		49		79
Total deferred income tax provision		739		688
Total income tax provision	$	3,096	$	914

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

	December 31,
	2019			2018
	(In Thousands)
Deferred tax assets:
Loans receivable	$	2,265		$	1,738
Deferred loan fees		424			314
Lease liability		500			-
Deferred compensation		833			630
Employee benefits		320			268
Unrealized losses on securities available-for-sale		-			479
Acquisition costs		271			306
Acquisition fair value adjustments		595			346
New Market Tax Credits carry forward		-			459
Alternative Minimum Tax carry forward		-			233
Other		429			364
Total deferred tax assets		5,637			5,137
Deferred tax liabilities:
Premises and equipment		841			796
Right of use asset		500			-
Federal Home Loan Bank stock		7			26
Mortgage servicing rights		2,483			1,680
Unrealized gains on securities available-for-sale		474			-
Goodwill		872			748
Intangibles		706			347
Other		246			350
Total deferred tax liabilities		6,129			3,947
Net deferred tax (liability) asset	$	(492	)	$	1,190

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

	Years Ended
	December 31,
	2019				2018
				% of				% of
				Pretax				Pretax
	Amount			Income	Amount			Income
	(Dollars in Thousands)
Federal income taxes at the statutory rate	$	2,933		21.00%	$	1,238		21.00%
State income taxes		943		6.75%		398		6.75%
Tax-exempt interest income		(264	)	-1.89%		(365	)	-6.19%
Income from bank-owned life insurance		(151	)	-1.08%		(128	)	-2.17%
New Market Tax Credits		(456	)	-3.26%		(456	)	-7.73%
Other, net		91		0.64%		227		3.84%
Actual tax expense and effective tax rate	$	3,096		22.16%	$	914		15.50%