Income Taxes (Tables)

3 Months Ended

Mar. 31, 2014

Income Taxes [Abstract]

Reconciliation of income tax expense

A reconciliation of the differences between income taxes computed at the federal statutory income tax rate and income tax expense is as follows:

	Three Months Ended March 31,
	2014			2013
Federal income tax provision at statutory rate of 35%	$	348		$	354
Dividends-received deduction		(31	)		(37	)
Small life insurance company deduction		(116	)		-
Other permanent differences		10			9
Change in asset valuation allowance due to change in judgment relating to realizability of deferred tax assets		(38	)		(237	)
Income tax expense	$	173		$	89

Components of income tax expense

The components of income tax expense were:

	Three Months Ended March 31,
	2014			2013
Current – Federal	$	63		$	2
Deferred – Federal		148			324
Change in deferred tax asset valuation allowance		(38	)		(237	)
Total	$	173		$	89