Income Taxes (Tables)

9 Months Ended

Sep. 30, 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 September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Federal income tax provision at statutory rate of 35%	$	555		$	941		$	1,248		$	3,417
Dividends-received deduction		(27	)		(41	)		(88	)		(119	)
Small life insurance company deduction		(114	)		(107	)		(275	)		(185	)
Other permanent differences		17			9			36			27
Change in asset valuation allowance due to change in judgment relating to realizability of deferred tax assets		(365	)		(799	)		(573	)		(2,945	)
Adjustment for prior years’ estimates to actual		70			6			70			6
Income tax expense	$	136		$	9		$	418		$	201

Components of income tax expense

The components of income tax expense were:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Current - Federal	$	(46	)	$	76		$	83		$	173
Deferred - Federal		547			732			908			2,973
Change in deferred tax asset valuation allowance		(365	)		(799	)		(573	)		(2,945	)
Total	$	136		$	9		$	418		$	201