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Note 12 - Income Taxes - Reconciliation of Effective Income Tax Provision (Benefit) (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Federal income taxes at the statutory rate $ 2,933 $ 1,238
Federal income taxes at the statutory rate, percent 21.00% 21.00%
State income taxes $ 943 $ 398
State income taxes, percent 6.75% 6.75%
Tax-exempt interest income $ (264) $ (365)
Tax-exempt interest income, percent (1.89%) (6.19%)
Income from bank-owned life insurance $ (151) $ (128)
Income from bank-owned life insurance, percent (1.08%) (2.17%)
New Market Tax Credits $ (456) $ (456)
New Market Tax Credits, percent (3.26%) (7.73%)
Other, net $ 91 $ 227
Other, net, percent 0.64% 3.84%
Total income tax provision $ 3,096 $ 914
Actual tax expense and effective tax rate, percent 22.16% 15.50%