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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) are as follows:

			For the Years Ended December 31,
(In thousands)			2024						2023						2022
Current:
Federal			$	5,459					$	6,378					$	7,794
State			639						1,203						1,365
Deferred:
Federal			(891)						(242)						(990)
State			(156)						(42)						(173)
Total income tax expense			$	5,051					$	7,297					$	7,996

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of expected income tax expense (benefit), computed by applying the effective federal statutory rate of 21% for each year to income before income tax expense is as follows:

			For the Years Ended December 31,
(In thousands)			2024						2023						2022
Expected income tax expense			$	5,035					$	7,885					$	9,035
(Reductions) increases resulting from:
Tax-exempt income			(1,045)						(1,104)						(1,571)
State taxes, net of federal benefit			382						917						942
Share-based compensation adjustment			316						298						258
Early surrender of bank-owned life insurance			279						—						—
Federal tax credits			(397)						(643)						(473)
Other, net			481						(56)						(195)
Total income tax expense			$	5,051					$	7,297					$	7,996

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences which give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:

			December 31,
(In thousands)			2024						2023
Deferred tax assets:
Allowance for credit losses			$	3,188					$	3,115
ASC 715 pension funding liability			—						987
Supplemental executive retirement plan accrual			2,345						2,328
Stock compensation			2,623						2,988
Unrealized loss on investment securities available-for-sale (1)			14,205						13,756
Research and development expenses			760						604
Lease liability			1,774						2,020
Other			718						330
Total deferred tax assets			$	25,613					$	26,128
Deferred tax liabilities:
Premises and equipment			$	(986)					$	(1,144)
ASC 715 supplemental executive retirement plan asset			(249)						—
Pension			—						(967)
Intangible assets			(1,900)						(1,828)
Right of use asset			(1,677)						(1,927)
Prepaid expenses			(936)						(765)
Other			(391)						(283)
Total deferred tax liabilities			$	(6,139)					$	(6,914)
Net deferred tax assets			$	19,474					$	19,214

(1)The deferred tax asset associated with the unrealized losses on securities is mainly a result of changes in interest rates, and the unrealized losses are considered to be temporary as the fair value is expected to recover as the securities approach their respective maturity dates. The issuers of the securities are of high credit quality and all principal amounts are expected to be paid when the securities mature. The Company does not intend to sell and it is more likely than not that the Company will not be required to sell the securities prior to their anticipated recovery.

Schedule of Unrecognized Tax Benefits Roll Forward

The reconciliation of the beginning unrecognized tax benefits balance to the ending balance is presented in the following table:

(In thousands)			2024						2023						2022
Balance at January 1			$	1,397					$	1,252					$	1,405
Changes in unrecognized tax benefits as a result of tax positions taken during a prior year			(151)						99						(176)
Changes in unrecognized tax benefits as a result of tax position taken during the current year			262						300						222
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations			(251)						(254)						(199)
Balance at December 31			$	1,257					$	1,397					$	1,252

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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