Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

(dollars in thousands)	201 9			201 8			201 7
Current
Federal	$	394		$	-		$	2,137
State		-			51			-
Deferred
Federal		(1,524	)		2,006			(5,056	)
State		(220	)		(479	)		-
Total provision (benefit) for income taxes	$	(1,350	)	$	1,578		$	(2,919	)

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

(dollars in thousands)	201 9			201 8			201 7
Tax provision computed at federal statutory rate	$	(1,018	)	$	2,143		$	2,095
State income tax, net of federal benefit		(260	)		(340	)		-
Tax exempt interest		(425	)		(430	)		(573	)
Deferred tax only items		-			199			-
Effect of change in tax rate		-			-			7,661
Deferred tax asset valuation allowance adjustment		-			-			(12,214	)
Other		353			6			112
Total provision (benefit) for income taxes	$	(1,350	)	$	1,578		$	(2,919	)

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

(dollars in thousands)	201 9		201 8
Deferred tax assets
Allowance for loan losses	$	2,351	$	2,185
Deferred compensation		620		591
Unrealized losses on securities available for sale		2,495		3,935
Foreclosed real estate write-downs		996		2,351
Interest income on non-accrual loans		541		615
Net operating loss carryforward		5,123		3,541
Other		2,263		1,472
Total deferred tax assets		14,389		14,690
Deferred tax liabilities
Deferred loan costs		1,138		1,103
Premises and equipment		612		634
Other		-		619
Total deferred tax liabilities		1,750		2,356
Net deferred tax asset	$	12,639	$	12,334