Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes included in the accompanying financial statements consists of the following components:

	Years ended December 31,
	2018			2017
Current taxes:
Federal	$	(397	)	$	89
State		—			—
Total current taxes		(397	)		89
Deferred taxes:
Federal		263			(678	)
State		(43	)		(178	)
Adjustment to net deferred tax asset for the Tax Cuts and Jobs Act		—			2,062
Change in valuation allowance		—			(4,757	)
Total deferred taxes		220			(3,551	)
Total tax (benefit)	$	(177	)	$	(3,462	)

Schedule of Deferred Tax Assets and Liabilities

The net deferred tax asset in the accompanying balance sheet includes the following amounts of deferred tax assets and liabilities:

	As of December 31,
	2018		2017
Deferred tax assets:
Allowance for loan losses	$	884	$	848
Deferred compensation		658		615
Accrued employee benefits		229		227
Loss carryforwards		4,080		4,105
Unrealized loss on available for sale securities		586		292
Premises and equipment		262		274
Other		91		436
Total deferred tax assets		6,790		6,797
Deferred tax liabilities:
Loan fees	$	136	$	161
Premises and equipment		—		—
Mortgage servicing rights		570		623
FHLB stock dividends		38		42
Total deferred tax liabilities		744		826
Net deferred tax asset	$	6,046	$	5,971

Schedule of Effective Income Tax Rate Reconciliation

A summary of the sources of differences between income taxes at the federal statutory rate and the provision (credit) for income taxes follows:

	Years ended December 31,
	2018						2017
	Amount			% of Pretax Income			Amount			% of Pretax Income
Reconciliation of statutory to effective rates:
Federal income taxes at statutory rate	$	(41	)		21.00	%	$	(613	)		34.00	%
Adjustments for:
State income taxes, net of federal income tax benefit		(34	)		17.34	%		(118	)		6.54	%
Increase in cash value of life insurance		(142	)		72.73	%		(140	)		7.76	%
Change in valuation allowance		—			0.00	%		(4,757	)		263.83	%
Tax reform		—			0.00	%		2,062			-114.36	%
Other		40			-20.41	%		104			-5.76	%
Provision (credit) for income taxes	$	(177	)		90.66	%	$	(3,462	)		192.01	%