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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Taxes |
Schedule of principal components of income tax expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
(Dollars in thousands) |  | 2021 |  | 2020 |  | 2019 |
Current taxes | ​ | $ | 9,049 | ​ | $ | 7,612 | ​ | $ | 4,728 | ​
Deferred taxes | ​ |  | (90) | ​ |  | (817) | ​ |  | 354 | ​
​ | ​ | $ | 8,959 | ​ | $ | 6,795 | ​ | $ | 5,082 | ​
Schedule of reconciliation of effective income tax rate to income tax provision | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
​ | ​ | ​ | 2021 | ​ | ​ | 2020 | ​ | ​ | 2019 | ​
(Dollars in thousands) | ​ | Amount | ​ | Percent | ​ | Amount | ​ | Percent | ​ | Amount | ​ | Percent |
Income tax at statutory rates | ​ | $ | 7,997 |  | 21.0 | % | $ | 6,136 | ​ | 21.0 | % | $ | 5,026 |  | 21.0 | %
State income taxes | ​ |  | 1,340 |  | 3.5 | ​ |  | 1,449 | ​ | 5.0 | ​ |  | 695 |  | 2.9 | ​
Tax-exempt interest income | ​ |  | (396) |  | (1.0) | ​ |  | (493) | ​ | (1.7) | ​ |  | (453) |  | (1.9) | ​
Excess compensation | ​ | ​ | 571 | ​ | 1.5 | ​ | ​ | 328 | ​ | 1.1 | ​ | ​ | — | ​ | — | ​
Change in tax law | ​ | ​ | — | ​ | — | ​ | ​ | (326) | ​ | (1.1) | ​ | ​ | — | ​ | — | ​
Income from bank-owned life insurance | ​ | ​ | (110) | ​ | (0.3) | ​ | ​ | (107) | ​ | (0.4) | ​ | ​ | (149) | ​ | (0.6) | ​
Investments in qualified housing projects | ​ | ​ | (48) | ​ | (0.1) | ​ | ​ | (82) | ​ | (0.3) | ​ | ​ | (93) | ​ | (0.4) | ​
Share based compensation | ​ |  | (83) |  | (0.2) | ​ |  | (77) | ​ | (0.3) | ​ | ​ | (126) |  | (0.5) | ​
Contribution of real property | ​ | ​ | (107) | ​ | (0.3) | ​ | ​ | — | ​ | — | ​ | ​ | — | ​ | — | ​
Merger related expenses | ​ | ​ | — | ​ | — | ​ | ​ | 29 | ​ | 0.1 | ​ | ​ | 96 | ​ | 0.4 | ​
Other | ​ |  | (205) |  | (0.5) | ​ |  | (62) | ​ | (0.2) | ​ |  | 86 |  | 0.3 | ​
​ | ​ | $ | 8,959 |  | 23.6 | % | $ | 6,795 |  | 23.2 | % | $ | 5,082 |  | 21.2 | %
Schedule of deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |
(Dollars in thousands) | ​ | 2021 | ​ | 2020 |
Deferred tax assets | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowances for loan losses and OREO losses | ​ | $ | 9,960 | ​ | $ | 9,743 | ​
Nonqualified defined contribution plan | ​ |  | 3,948 | ​ |  | 3,595 | ​
Lease liabilities | ​ | ​ | 2,057 | ​ | ​ | 1,906 | ​
Fair value adjustments related to business combinations | ​ |  | 1,119 | ​ |  | 1,716 | ​
Share-based compensation | ​ |  | 752 | ​ |  | 920 | ​
Reserve for indemnification losses | ​ |  | 821 | ​ |  | 879 | ​
Accrued expenses | ​ | ​ | 352 | ​ | ​ | 779 | ​
Cash flow hedges | ​ |  | 158 | ​ |  | 471 | ​
Other | ​ |  | 1,275 | ​ |  | 1,364 | ​
Deferred tax assets | ​ |  | 20,442 | ​ |  | 21,373 | ​
Deferred tax liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill and other intangible assets | ​ |  | (3,114) | ​ |  | (3,164) | ​
Right of use assets | ​ | ​ | (1,938) | ​ | ​ | (1,868) | ​
Depreciation | ​ |  | (989) | ​ |  | (1,272) | ​
Net unrealized gain on securities available for sale | ​ |  | (116) | ​ |  | (1,169) | ​
Defined benefit plan | ​ |  | (677) | ​ |  | (345) | ​
Deferred tax liabilities | ​ |  | (6,834) | ​ |  | (7,818) | ​
Net deferred tax assets | ​ | $ | 13,608 | ​ | $ | 13,555 | ​
​

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