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Income Taxes - Income Tax Rate Reconciliation (Details) - USD ($) | 12 Months Ended
--- | ---
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020
Amounts |  |  |
Income tax at statutory rates | $ 7,762,000 | $ 7,997,000 | $ 6,136,000
State income taxes | 536,000 | 1,340,000 | 1,449,000
Tax-exempt interest income | (427,000) | (396,000) | (493,000)
Excess compensation |  | 571,000 | 328,000
Change in tax law |  |  | (326,000)
Income from bank-owned life insurance | (130,000) | (110,000) | (107,000)
Investments in qualified housing projects | (56,000) | (48,000) | (82,000)
Share-based compensation | (37,000) | (83,000) | (77,000)
Contribution of real property |  | (107,000) |
Merger related expenses |  |  | 29,000
Other | (53,000) | (205,000) | (62,000)
Income tax expense | $ 7,595,000 | $ 8,959,000 | $ 6,795,000
Percent of Pre-tax Income |  |  |
Income tax at statutory rates (as a percent) | 21.00% | 21.00% | 21.00%
State income taxes (as a percent) | 1.50% | 3.50% | 5.00%
Tax-exempt interest income (as a percent) | (1.10%) | (1.00%) | (1.70%)
Excess compensation (as a percent) |  | 1.50% | 1.10%
Change in tax law (as a percent) |  |  | (1.10%)
Income from bank-owned life insurance (as a percent) | (0.40%) | (0.30%) | (0.40%)
Investments in qualified housing projects (as a percent) | (0.20%) | (0.10%) | (0.30%)
Share-based compensation (as a percent) | (0.10%) | (0.20%) | (0.30%)
Contribution of real property (as a percent) |  | (0.30%) |
Merger related expenses |  |  | 0.10%
Other | (0.10%) | (0.50%) | (0.20%)
Income tax expense (as a percent) | 20.60% | 23.60% | 23.20%

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