Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Schedule of components of income tax expense

	2019		2018
(dollars in thousands)
Current income tax (benefit) expense:
Federal	$	—	$	(1,191)
State		119		57
Total current tax expense (benefit)		119		(1,134)
Deferred income tax expense:
Federal		291		1,228
State		42		36
Total deferred tax expense		333		1,264
Total Income tax expense	$	452	$	130

Schedule of reconciliation of income tax expense

	2019		2018
(dollars in thousands)
Income tax expense at federal statutory rate	$	431	$	360
(Decrease) increase resulting from:
Tax-exempt income		(72)		(200)
Bank owned life insurance		(34)		(101)
State income taxes, net of Federal income tax benefit		127		74
Other		—		(3)
Total income tax expense	$	452	$	130

Schedule of components of the net deferred income tax benefits

	2019		2018
(dollars in thousands)
Deferred income tax benefits:
Accrued deferred compensation	$	87	$	78
Allowance for credit losses		243		347
Net operating loss carryforward credits		153		345
Accumulated depreciation		(13)		4
Reserve for unfunded commitments		10		10
Accounting standard 310-20		(103)		(76)
Right of use asset		(205)		—
Lease liability		205		—
Other temporary differences		—		7
Accumulated securities premium accretion		215		210
Net unrealized depreciation on investment securities available for sale		80		467
Net deferred income tax benefits	$	672	$	1,392