Note 9 - 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			2017
Current	$	2,682	$	2,942		$	2,943
Deferred expense (benefit)		529		(382	)		1,790
Deferred tax adjustment for enacted change in tax rate		---		---			1,560
Total income tax expense	$	3,211	$	2,560		$	6,293

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

	Years ended December 31,
	2019			2018				2017
Computed “expected” income tax expense	$	4,342			$	3,929		$	7,135
Tax impact of enacted change in tax rate		---				---			1,560
Tax-exempt interest income		(1,019	)			(1,255	)		(2,144	)
Nondeductible interest expense		96				69			89
Other, net		(208	)			(183	)		(347	)
Reported income tax expense	$	3,211			$	2,560		$	6,293

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

	December 31,
	2019			2018
Deferred tax assets:
Allowance for loan losses and unearned fee income	$	1,597		$	1,683
Valuation allowance on other real estate owned		186			223
Defined benefit plan		2,281			1,864
Deferred compensation and other liabilities		848			1,308
Net unrealized loss on securities available for sale		---			1,348
Lease accounting		2			---
Total deferred tax assets	$	4,914		$	6,426
Deferred tax liabilities:
Fixed assets	$	(438	)	$	(365	)
Goodwill and deposit intangibles		(1,228	)		(1,169	)
Defined benefit plan, prepaid portion		(1,308	)		(1,465	)
Net unrealized gain on securities available for sale		(20	)		---
Discount accretion of securities		(43	)		(70	)
Total deferred tax liabilities		(3,037	)		(3,069	)
Net deferred tax assets	$	1,877		$	3,357