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Income Taxes
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Income Taxes
Note 9 – Income Taxes

The provisions for income taxes for the years ended December 31, were as follows:
(Dollars in thousands)202220212020
Current:
     Federal$6,607 $3,332 $10,899 
     State1,152 421 2,019 
 $7,759 $3,753 $12,918 
Deferred:   
     Federal$(3,056)$5,159 $(3,183)
     State(575)970 (203)
(3,631)6,129 (3,386)
Income tax expense $4,128 $9,882 $9,532 

Following is a reconciliation of income taxes at federal statutory rates to recorded income taxes for the year ended December 31:
202220212020
(Dollars in thousands)Amount%  Amount%  Amount%  
Income tax at federal statutory rate$3,889 21.0 %$10,201 21.0 %$9,858 21.0 %
Tax effect of:    
     State income taxes, net of federal income taxes456 2.5 %1,099 2.2 %1,435 3.1 %
     Tax exempt earnings(1,596)(8.6)%(1,460)(3.0)%(1,381)(3.0)%
     Other1,379 7.4 %42 0.1 %(380)(0.8)%
 $4,128 22.3 %$9,882 20.3 %$9,532 20.3 %
Deferred income tax assets and liabilities were comprised of the following at December 31:
(Dollars in thousands)20222021
Gross deferred tax assets:
Allowance for loan losses$5,849 $4,393 
Minimum pension liability991 1,245 
Stock-based compensation1,097 1,140 
SERP317 298 
Unrealized loss on securities available-for-sale11,024 — 
Lease liabilities3,611 4,370 
Other364 249 
     Total gross deferred tax assets23,253 11,695 
Gross deferred tax liabilities:
Depreciation(1,726)(1,556)
Pension(1,062)(1,077)
Unrealized gain on securities available-for-sale(80)(45)
Holding gain on equity securities(3,969)(4,358)
Equity method investment(2,220)(4,086)
Goodwill(110)(70)
Right-of-use assets(3,383)(4,141)
Other(264)(288)
     Total gross deferred tax liabilities(12,814)(15,621)
     Net deferred tax assets (liabilities)$10,439 $(3,926)

Net deferred income tax assets and net deferred income tax liabilities were included in other assets and other liabilities, respectively, based on the ending balance.