Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes [Abstract]

Schedule of Allocation of Federal and State Income Taxes

Allocation of federal and state income taxes between current and deferred portions is as follows:

	Years Ended December 31,
	2018	2017	2016
Current
Federal	$            2,810	$            5,584	$            3,675
State	1,653	1,686	1,296
	4,463	7,270	4,971
Deferred
Federal	(202)	1,894	(460)
State	(88)	(7)	(95)
	(290)	1,887	(555)
Income tax expense	$            4,173	$            9,157	$            4,416

Schedule of Effective Income Tax Rate Reconciliation

The reasons for the differences between the statutory federal income tax rate and the effective tax rates are summarized as follows:

	2018		2017		2016
	Amount	Percent of Pre-Tax  Income	Amount	Percent of Pre-Tax  Income	Amount	Percent of Pre-Tax  Income
Expected income tax expense at
federal tax rate	$               3,234	21.00%	$               5,728	35.00%	$               3,994	34.00%
State taxes net of federal
benefit	1,281	8.32%	1,096	6.70%	796	6.78%
Nondeductible expenses	85	0.55%	255	1.56%	37	0.31%
Nontaxable income	(248)	(1.61%)	(376)	(2.30%)	(375)	(3.19%)
Provisional deferred tax adjustment related to reduction in U.S. federal statutory income tax rate	-	0.00%	2,740	16.74%	-	0.00%
Other	(179)	(1.16%)	(286)	(1.75%)	(36)	(0.31%)
	$               4,173	27.10%	$               9,157	55.95%	$               4,416	37.59%

Schedule of Deferred Tax Assets and Liabilities

The net deferred tax assets in the accompanying balance sheets include the following components:

	2018	2017
Deferred tax assets
Allowance for loan losses	$            3,020	$            2,893
Deferred compensation	2,676	2,142
OREO valuation allowance & expenses	355	337
Unrealized loss on investment securities	724	452
Depreciation	-	29
Other	144	178
	6,919	6,031
Deferred tax liabilities
Fair value adjustments for acquired assets and liabilities	65	-
FHLB stock dividends	109	109
Depreciation	52	-
	226	109
	$            6,693	$            5,922