Note K - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Notes Tables

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

	2018			2017		2016
Current tax expense	$	2,389		$	2,579	$	2,645
Deferred tax (benefit) expense		(134	)		1,907		(725	)
Total income taxes	$	2,255		$	4,486	$	1,920

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

	2018			2017
Items giving rise to deferred tax assets:
Allowance for loan losses	$	1,463		$	1,631
Unrealized loss on securities available for sale		568			279
Deferred compensation		1,580			1,466
Deferred loan fees/costs		119			130
Other real estate owned		434			377
Accrued bonus		280			234
Purchase accounting adjustments		61			56
Net operating loss		132			148
Other		257			212
Items giving rise to deferred tax liabilities:
Mortgage servicing rights		(80	)		(78	)
FHLB stock dividends		(676	)		(676	)
Prepaid expenses		(191	)		(149	)
Depreciation and amortization		(656	)		(627	)
Other		(3	)		(3	)
Net deferred tax asset	$	3,288		$	3,000

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

	2018			2017			2016
Statutory tax	$	2,982		$	4,078		$	3,006
Effect of nontaxable interest		(352	)		(514	)		(433	)
Effect of nontaxable insurance premiums		(218	)		(303	)		(340	)
Income from bank owned insurance, net		(142	)		(230	)		(239	)
Effect of postretirement benefits		20			(78	)		(19	)
Effect of nontaxable life insurance death proceeds		----			(175	)		----
Impact from TCJA		----			1,783			----
Effect of state income tax		33			70			64
Tax credits		(217	)		(191	)		(211	)
Milton Merger Costs		----			4			73
Other items		149			42			19
Total income taxes	$	2,255		$	4,486		$	1,920