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Income Taxes
 9 Months Ended
Sep. 30, 2023
Income Taxes  
Income Taxes

NOTE 13 Income Taxes

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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended September 30, 

​

​

​

2023

​

​

2022

​

​

    

​

​

    

Percent of

  

  

​

​

    

Percent of

  

(dollars in thousands)

​

Amount

​

Pretax Income

  

​

Amount

​

Pretax Income

  

Taxes at statutory federal income tax rate

​

$

2,424

 

21.0

%

​

$

2,637

 

21.0

% 

Tax effect of:

​

​

​

 

​

​

​

​

​

 

​

​

Tax exempt income

​

​

(189)

 

(1.6)

%

​

​

(133)

 

(1.1)

% 

State income taxes, net of federal benefits

​

​

499

​

4.3

%

​

​

406

​

3.2

% 

Nondeductible items and other

​

​

(353)

 

(3.1)

%

​

​

30

 

0.2

% 

Applicable income taxes

​

$

2,381

​

20.6

%

​

$

2,940

​

23.3

% 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Nine months ended September 30, 

​

​

​

2023

​

​

2022

​

​

    

​

​

    

Percent of

  

  

​

​

    

Percent of

 

(dollars in thousands)

​

Amount

​

Pretax Income

  

​

Amount

​

Pretax Income

 

Taxes at statutory federal income tax rate

​

$

7,071

 

21.0

% 

​

$

7,906

 

21.0

%

Tax effect of:

​

 

  

 

  

​

​

 

  

 

  

​

Tax exempt income

​

 

(489)

 

(1.5)

% 

​

 

(372)

 

(1.0)

%

State income taxes, net of federal benefits

​

 

1,445

 

4.3

% 

​

 

1,515

 

4.0

%

Nondeductible items and other

​

​

(805)

​

(2.4)

% 

​

​

(496)

​

(1.3)

%

Applicable income taxes

​

$

7,222

 

21.4

% 

​

$

8,553

 

22.7

%

​

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