XML 54 R43.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Taxes |
Schedule of principal components of income tax expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
(Dollars in thousands) |  | 2022 |  | 2021 |  | 2020 |
Current taxes | ​ | $ | 6,887 | ​ | $ | 9,049 | ​ | $ | 7,612 | ​
Deferred taxes | ​ |  | 708 | ​ |  | (90) | ​ |  | (817) | ​
​ | ​ | $ | 7,595 | ​ | $ | 8,959 | ​ | $ | 6,795 | ​
​
Schedule of reconciliation of effective income tax rate to income tax provision | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
​ | ​ | ​ | 2022 | ​ | ​ | 2021 | ​ | ​ | 2020 | ​
(Dollars in thousands) | ​ | Amount | ​ | Percent | ​ | Amount | ​ | Percent | ​ | Amount | ​ | Percent |
Income tax at statutory rates | ​ | $ | 7,762 |  | 21.0 | % | $ | 7,997 |  | 21.0 | % | $ | 6,136 | ​ | 21.0 | %
State income taxes | ​ |  | 536 |  | 1.5 | ​ |  | 1,340 |  | 3.5 | ​ |  | 1,449 | ​ | 5.0 | ​
Tax-exempt interest income | ​ |  | (427) |  | (1.1) | ​ |  | (396) |  | (1.0) | ​ |  | (493) | ​ | (1.7) | ​
Excess compensation | ​ | ​ | — | ​ | — | ​ | ​ | 571 | ​ | 1.5 | ​ | ​ | 328 | ​ | 1.1 | ​
Change in tax law | ​ | ​ | — | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | (326) | ​ | (1.1) | ​
Income from bank-owned life insurance | ​ | ​ | (130) | ​ | (0.4) | ​ | ​ | (110) | ​ | (0.3) | ​ | ​ | (107) | ​ | (0.4) | ​
Investments in qualified housing projects | ​ | ​ | (56) | ​ | (0.2) | ​ | ​ | (48) | ​ | (0.1) | ​ | ​ | (82) | ​ | (0.3) | ​
Share based compensation | ​ |  | (37) |  | (0.1) | ​ |  | (83) |  | (0.2) | ​ | ​ | (77) | ​ | (0.3) | ​
Contribution of real property | ​ | ​ | — | ​ | — | ​ | ​ | (107) | ​ | (0.3) | ​ | ​ | — | ​ | — | ​
Merger related expenses | ​ | ​ | — | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 29 | ​ | 0.1 | ​
Other | ​ |  | (53) |  | (0.1) | ​ |  | (205) |  | (0.5) | ​ |  | (62) | ​ | (0.2) | ​
​ | ​ | $ | 7,595 |  | 20.6 | % | $ | 8,959 |  | 23.6 | % | $ | 6,795 |  | 23.2 | %
​
Schedule of deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |
(Dollars in thousands) | ​ | 2022 | ​ | 2021 |
Deferred tax assets | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowances for loan losses | ​ | $ | 10,108 | ​ | $ | 9,960 | ​
Nonqualified defined contribution plan | ​ |  | 4,128 | ​ |  | 3,948 | ​
Lease liabilities | ​ | ​ | 1,967 | ​ | ​ | 2,057 | ​
Fair value adjustments related to business combinations | ​ |  | 711 | ​ |  | 1,119 | ​
Share-based compensation | ​ |  | 897 | ​ |  | 752 | ​
Reserve for indemnification losses | ​ |  | 586 | ​ |  | 821 | ​
Accrued expenses | ​ | ​ | 396 | ​ | ​ | 352 | ​
Cash flow hedges | ​ |  | — | ​ |  | 158 | ​
Net unrealized loss on securities available for sale | ​ | ​ | 9,353 | ​ | ​ | — | ​
Other | ​ |  | 845 | ​ |  | 1,275 | ​
Deferred tax assets | ​ |  | 28,991 | ​ |  | 20,442 | ​
Deferred tax liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill and other intangible assets | ​ |  | (3,068) | ​ |  | (3,114) | ​
Right of use assets | ​ | ​ | (1,830) | ​ | ​ | (1,938) | ​
Depreciation | ​ |  | (917) | ​ |  | (989) | ​
Net unrealized gain on securities available for sale | ​ |  | — | ​ |  | (116) | ​
Defined benefit plan | ​ |  | (649) | ​ |  | (677) | ​
Cash flow hedges | ​ | ​ | (513) | ​ | ​ | — | ​
Deferred tax liabilities | ​ |  | (6,977) | ​ |  | (6,834) | ​
Net deferred tax assets | ​ | $ | 22,014 | ​ | $ | 13,608 | ​
​

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration