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Note 11 - Income Taxes - Reconciliation of Effective Income Tax Rate (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Current federal income tax expense $ 3,532 $ 3,070 $ 984
Deferred federal income tax expense/(benefit) 924 202 310
Income tax expense 4,456 3,272 1,294
Income tax computed at statutory federal rate of 21% 5,565 3,966 1,778
Tax exempt interest income (1,190) (574) (320)
Tax exempt earnings on bank-owned life insurance (170) (162) (162)
Tax credits (284) (240) (218)
Nondeductible merger expenses 0 182 164
Disallowed interest expense 74 64 13
Other items $ 461 $ 36 $ 39
Effective income tax rate 17.00% 17.00% 15.00%