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Income Taxes

9 Months Ended

Sep. 30, 2021

NOTE 12 Income Taxes

The components of income tax expense (benefit) for the three and nine months ended September 30, 2021 and 2020 were as follows:


	Three months ended September 30,
	2021				2020
			Percent of				Percent of
(dollars in thousands)	Amount		Pretax Income		Amount		Pretax Income
Taxes at statutory federal income tax rate	$	3,598	21.0	%	$	4,894	21.0	%
Tax effect of:
Tax exempt income		(134)	(0.8)	%		(134)	(0.6)	%
Other		600	3.5	%		888	3.8	%
Applicable income taxes	$	4,064	23.7	%	$	5,648	24.2	%


	Nine months ended September 30,
	2021				2020
			Percent of				Percent of
(dollars in thousands)	Amount		Pretax Income		Amount		Pretax Income
Taxes at statutory federal income tax rate	$	10,993	21.0	%	$	9,491	21.0	%
Tax effect of:
Tax exempt income		(434)	(0.8)	%		(382)	(0.8)	%
Other		1,811	3.5	%		1,589	3.5	%
Applicable income taxes	$	12,370	23.7	%	$	10,698	23.7	%

It is the opinion of management that the Company has no significant uncertain tax positions that would be subject to change upon examination.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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