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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes | The provisions for income taxes for the years ended December 31, were as follows:
(Dollars in thousands) |  | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |  |
Federal |  | $ | 3,438 |  |  | $ | 6,707 |  |  | $ | 6,607 |
State |  | 465 |  |  | 1,315 |  |  | 1,152 |
|  | $ | 3,903 |  |  | $ | 8,022 |  |  | $ | 7,759 |
Deferred: |  |  |  |  |  |
Federal |  | $ | 1,873 |  |  | $ | 8 |  |  | $ | (3,056) |
State |  | 323 |  |  | 89 |  |  | (575) |
|  | 2,196 |  |  | 97 |  |  | (3,631) |
Income taxes |  | $ | 6,099 |  |  | $ | 8,119 |  |  | $ | 4,128 |
Schedule of Reconciliation of Income Taxes at Federal Statutory Rates to Recorded Income Taxes | Following is a reconciliation of income taxes at federal statutory rates to recorded income taxes for the year ended December 31:
|  | 2024 |  | 2023 |  | 2022
(Dollars in thousands) |  | Amount |  | % |  | Amount |  | % |  | Amount |  | %
Income tax at federal statutory rate |  | $ | 5,532 |  |  | 21.0 | % |  | $ | 8,217 |  |  | 21.0 | % |  | $ | 3,889 |  |  | 21.0 | %
Tax effect of: |  |  |  |  |  |  |  |  |  |  |  |
State income taxes, net of federal income taxes |  | 623 |  |  | 2.4 | % |  | 1,109 |  |  | 2.8 | % |  | 456 |  |  | 2.5 | %
Tax exempt earnings |  | (808) |  |  | (3.1) | % |  | (941) |  |  | (2.4) | % |  | (1,596) |  |  | (8.6) | %
Other |  | 752 |  |  | 2.9 | % |  | (266) |  |  | (0.6) | % |  | 1,379 |  |  | 7.4 | %
|  | $ | 6,099 |  |  | 23.2 | % |  | $ | 8,119 |  |  | 20.8 | % |  | $ | 4,128 |  |  | 22.3 | %
Schedule of Deferred Income Tax Assets and (Liabilities) | Deferred income tax assets and liabilities were comprised of the following at December 31:
(Dollars in thousands) |  | 2024 |  | 2023
Gross deferred tax assets: |  |  |  |
Allowance for credit losses |  | $ | 5,118 |  |  | $ | 5,589 |
Minimum pension liability |  | 734 |  |  | 955 |
Research and development |  | 1,126 |  |  | 2,035 |
Stock-based compensation |  | 903 |  |  | 976 |
Supplemental executive retirement plan |  | 401 |  |  | 327 |
Unrealized loss on securities available-for-sale |  | 7,958 |  |  | 7,892 |
Lease liabilities |  | 6,772 |  |  | 3,402 |
Depreciation |  | 329 |  |  | — |
Other |  | 660 |  |  | 828 |
Total gross deferred tax assets |  | 24,001 |  |  | 22,004 |
Gross deferred tax liabilities: |  |  |  |
Pension |  | (1,086) |  |  | (1,091) |
Holding gain on equity securities |  | (4,247) |  |  | (3,976) |
Equity method investment |  | (2,061) |  |  | (2,136) |
Goodwill |  | (88) |  |  | (107) |
Right-of-use assets |  | (6,479) |  |  | (3,163) |
Depreciation |  | — |  |  | (1,197) |
Other |  | (2,697) |  |  | (597) |
Total gross deferred tax liabilities |  | (16,658) |  |  | (12,267) |
Net deferred tax assets |  | $ | 7,343 |  |  | $ | 9,737 |

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