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Note 11 - Income Taxes - Reconciliation of Effective Income Tax Rate (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Current federal income tax expense $ 3,070 $ 984 $ 946
Deferred federal income tax expense/(benefit) 202 310 209
Income tax expense 3,272 1,294 1,155
Income tax computed at statutory federal rate of 21% 3,966 1,778 1,783
Tax exempt interest income (574) (320) (309)
Tax exempt earnings on bank-owned life insurance (162) (162) (81)
Tax credits (240) (218) (154)
Nondeductible merger expenses 182 164 0
Other items $ 100 $ 52 $ (84)
Effective income tax rate 17.00% 15.00% 14.00%