Income Taxes (Tables)

9 Months Ended

Sep. 30, 2017

Income Taxes [Abstract]

Reconciliation of income tax expense (benefit)

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Federal income tax provision at statutory rate of 35%	$	221		$	110		$	864		$	717
Dividends-received deduction		(23	)		(25	)		(71	)		(71	)
Small life insurance company deduction		(313	)		-			(343	)		-
Other permanent differences		18			12			52			45
Adjustment for prior years’ estimates to actual		(19	)		71			(19	)		71
Income tax expense (benefit)	$	(116	)	$	168		$	483		$	762

Components of income tax expense (benefit)

The components of income tax expense (benefit) were:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2017			2016		2017			2016
Current - Federal	$	(157	)	$	11	$	906		$	601
Deferred - Federal		41			157		(423	)		161
Total	$	(116	)	$	168	$	483		$	762