Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

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

(Dollar amounts in thousands)	2019		2018
Current	$	1,437	$	298
Deferred		225		335
Total	$	1,662	$	633

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

(Dollar amounts in thousands)	2019						2018
				% Pre-tax						% Pre-tax
	Amount			Income			Amount			Income
Provision at statutory tax rate	$	2,019			21.0	%	$	1,017			21.0	%
Increase (decrease) resulting from:
Tax free interest, net of disallowance		(210	)		(2.2	%)		(234	)		(4.8	%)
Earnings on bank-owned life insurance		(85	)		(0.9	%)		(71	)		(1.5	%)
Tax free gain on retirement of CMFP shares		—			—			(145	)		(3.0	%)
Other, net		(62	)		(0.6	%)		66			1.4	%
Provision	$	1,662			17.3	%	$	633			13.1	%

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

(Dollar amounts in thousands)	2019		2018
Deferred tax assets:
Allowance for loan losses	$	1,365	$	1,351
Funded status of pension plan		1,389		1,287
Lease liability		358		—
Net unrealized loss on securities		26		401
Deferred compensation		417		391
Accrued incentive compensation		91		148
Nonaccrual loan interest income		40		75
Securities impairment		70		70
Stock compensation		91		69
Other		9		17
Gross deferred tax assets		3,856		3,809
Deferred tax liabilities:
Accrued pension liability		1,029		1,044
Depreciation		656		619
Deferred loan fees and costs		555		461
Lease right-of-use asset		317		—
Intangible assets		260		215
Business combination adjustments		137		68
Other		51		53
Gross deferred tax liabilities		3,005		2,460
Net deferred tax asset	$	851	$	1,349