Income Taxes (Tables)

6 Months Ended

Jun. 30, 2016

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 June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Federal income tax provision at statutory rate of 35%	$	125		$	1,466		$	607		$	1,820
Dividends-received deduction		(24	)		(27	)		(46	)		(54	)
Small life insurance company deduction		-			(605	)		-			(623	)
Other permanent differences		15			10			33			20
Income tax expense	$	116		$	844		$	594		$	1,163

Components of income tax expense

The components of income tax expense were:

	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016		2015
Current - Federal	$	590		$	1,108		$	590	$	1,119
Deferred - Federal		(474	)		(264	)		4		44
Total	$	116		$	844		$	594	$	1,163