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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 were as follows:

(In thousands)			2024						2023						2022
Current:
Federal			$	6,780					$	7,924					$	7,461
State			1,014						755						1,259
Total			7,794						8,679						8,720
Deferred:
Federal			806						(534)						592
State			(27)						16						(113)
Total			779						(518)						479
Provision for income taxes			$	8,573					$	8,161					$	9,199

Schedule of Reconciliations of the Statutory Federal Income Tax

The differences between the ETR and the federal statutory income tax rate are as follows:

			2024						2023						2022
Federal income tax at statutory rate			21.0		%				21.0		%				21.0		%
State income taxes, net of federal benefit			1.9						1.5						1.8
Tax-exempt income			(1.0)						(1.3)						(1.1)
Earnings on investment in bank-owned life insurance			(1.0)						(1.0)						(0.7)
Tax credit benefits			—						—						(0.6)
Nondeductible merger-related costs			0.7						—						—
Other			(0.4)						0.3						0.1
Effective income tax rate			21.2		%				20.5		%				20.5		%

Components of Deferred Tax Assets and Liabilities

The net deferred tax asset recorded by the Corporation is included in other assets and consists of the following tax effects of temporary differences as of December 31:

(In thousands)			2024						2023
Deferred tax assets:
Investment securities available for sale			$	11,178					$	12,052
Allowance for credit losses			3,909						4,533
Accrued deferred compensation			1,436						1,166
Deferred director fees			1,153						1,097
Defined benefit pension plan			1,031						1,162
Other			837						783
Lease liability			592						742
Allowance for unfunded commitments			315						390
Nonaccrual interest			246						740
Accumulated depreciation			59						3
Total gross deferred tax assets			20,756						22,668
Deferred tax liabilities:
Prepaid defined benefit pension plan cost			4,729						4,552
Goodwill and intangible assets, net			1,449						1,439
Right of use asset			592						742
Prepaid expenses			50						67
Purchase accounting			25						25
Deferred loan fees			(46)						57
Total gross deferred tax liabilities			6,799						6,882
Net deferred tax asset			$	13,957					$	15,786

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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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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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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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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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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-Topic 740
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-Name Accounting Standards Codification
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