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Income Taxes
 6 Months Ended
Jun. 30, 2023
Income Taxes  
Income Taxes

NOTE 13 Income Taxes

The components of income tax expense (benefit) for the three and six months ended June 30, 2023 and 2022 were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended June 30, 

​

​

​

2023

​

​

2022

​

​

    

​

​

    

Percent of

  

  

​

​

    

Percent of

  

(dollars in thousands)

​

Amount

​

Pretax Income

  

​

Amount

​

Pretax Income

  

Taxes at statutory federal income tax rate

​

$

2,444

 

21.0

%

​

$

2,524

 

21.0

% 

Tax effect of:

​

​

​

 

​

​

​

​

​

 

​

​

Tax exempt income

​

​

(156)

 

(1.3)

%

​

​

(122)

 

(1.0)

% 

State income taxes, net of federal benefits

​

​

485

​

4.1

%

​

​

531

​

4.4

% 

Nondeductible items and other

​

​

(238)

 

(2.0)

%

​

​

(208)

 

(1.7)

% 

Applicable income taxes

​

$

2,535

​

21.8

%

​

$

2,725

​

22.7

% 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six months ended June 30, 

​

​

​

2023

​

​

2022

​

​

    

​

​

    

Percent of

  

  

​

​

    

Percent of

 

(dollars in thousands)

​

Amount

​

Pretax Income

  

​

Amount

​

Pretax Income

 

Taxes at statutory federal income tax rate

​

$

4,648

 

21.0

% 

​

$

5,269

 

21.0

%

Tax effect of:

​

 

  

 

  

​

​

 

  

 

  

​

Tax exempt income

​

 

(300)

 

(1.4)

% 

​

 

(239)

 

(1.0)

%

State income taxes, net of federal benefits

​

 

946

 

4.3

% 

​

 

1,109

 

4.4

%

Nondeductible items and other

​

​

(453)

​

(2.0)

% 

​

​

(526)

​

(2.1)

%

Applicable income taxes

​

$

4,841

 

21.9

% 

​

$

5,613

 

22.3

%

​

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