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Income taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income taxes  
Schedule of current and deferred amounts of the provision for income taxes expense (benefit0

(Dollars in thousands)

    

2022

    

2021

    

2020

 

Current

$

6,665

$

9,548

$

6,600

Deferred

611

450

(1,779)

Total income tax expense

$

7,276

$

9,998

$

4,821

Schedule of the components of the net deferred tax asset

(Dollars in thousands)

    

2022

    

2021

 

Deferred tax assets:

Allowance for loan losses

$

5,916

$

5,960

Lease liability

1,787

1,846

Defined benefit plan

 

1,798

 

Deferred compensation

 

860

 

884

Deferred loan fees

 

 

1,215

Deferred loan fees and costs

59

Investment securities available-for-sale

14,266

379

Other

 

196

 

86

Total

 

24,882

 

10,370

Deferred tax liabilities:

Lease right-of-use assets

1,718

1,798

Premises and equipment, net

 

1,692

 

1,441

Merger related accounting

 

472

572

Deferred loan costs

885

Defined benefit plan

75

Investment securities available-for-sale

 

1,872

 

Other

 

389

 

244

Total

 

6,143

 

5,015

Net deferred tax asset

$

18,739

$

5,355

Schedule of the reconciliation between the amount of the effective income tax expense and the income tax expense that would have been provided at the federal statutory rate

2022

2021

2020

(Dollars in thousands, except percents)

    

Amount

    

%

    

Amount

    

%

    

Amount

%

 

Provision for income tax at statutory rate

$

9,527

21.00

%

$

11,239

21.00

%

$

7,177

21.00

%

State tax, net of federal benefit

216

0.63

475

0.89

Tax exempt interest

 

(1,400)

(3.09)

 

(1,194)

(2.23)

 

(1,032)

(3.02)

Bank owned life insurance income

 

(205)

(0.45)

 

(119)

(0.22)

 

(299)

(0.87)

Residential housing program tax credits

 

(911)

(2.01)

(1,091)

(2.04)

(1,094)

(3.20)

Other, net

 

49

(0.04)

 

688

1.29

 

69

0.19

Total

$

7,276

16.04

%

$

9,998

18.69

%

$

4,821

14.10

%