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Income Taxes
 3 Months Ended
Mar. 31, 2024
Income Taxes  
Income Taxes

NOTE 13 Income Taxes

The components of income tax expense (benefit) for the three months ended March 31, 2024 and 2023 were as follows:

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​

​

​

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Three months ended March 31, 

​

​

​

2024

​

​

2023

​

​

    

​

​

    

Percent of

  

  

​

​

    

Percent of

  

(dollars in thousands)

​

Amount

​

Pretax Income

  

​

Amount

​

Pretax Income

  

Taxes at statutory federal income tax rate

​

$

1,790

 

21.0

%

​

$

2,203

 

21.0

% 

Tax effect of:

​

​

​

 

​

​

​

​

​

 

​

​

Tax exempt income

​

​

(229)

 

(2.7)

%

​

​

(144)

 

(1.4)

% 

State income taxes, net of federal benefits

​

​

413

​

4.8

%

​

​

461

​

4.4

% 

Nondeductible items and other

​

​

117

 

1.4

%

​

​

(214)

 

(2.0)

% 

Applicable income taxes

​

$

2,091

​

24.5

%

​

$

2,306

​

22.0

% 

​

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