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Federal Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Federal Income Taxes [Abstract]  
Schedule Of Deferred Tax Assets And Liabilities (Dollars in thousands) Deferred Tax Assets 2021 2020Allowance for loan losses $ 3,197 $ 3,561Deferred compensation 908 761Purchase accounting 18 17Other than temporary impairment of investments 58 58Accumulated other comprehensive loss 145 —Lease liabilities 1,030 1,131Other 354 581 5,710 6,109Valuation allowance (58) (58)Total gross deferred tax assets 5,652 6,051 Deferred Tax Liabilities Depreciation 102 464Right-of-use asset 1,010 1,118Joint ventures and partnerships 51 55Pension 901 1,163Accumulated other comprehensive gain — 848Deferred loan fees and costs, net 274 2Total gross deferred tax liabilities 2,338 3,650Net deferred tax asset $ 3,314 $ 2,401
Schedule Of Components Of Income Tax Expense (Benefit) For the Years Ended December 31 (Dollars in thousands) 2021 2020 Current tax expense (benefit) $ 3,308 $ 2,210 Tax benefit NOL carryback — (1,113) Deferred tax (benefit) expense 90 (839) Income tax provision $ 3,398 $ 258
Schedule Of Effective Income Tax Rate Reconciliation For the Years Ended December 31 (Dollars in thousands) 2021 2020 Tax provision at statutory rate $ 4,833 $ 2,747 Income on tax-exempt loans and securities (1,190) (1,144) Tax benefit NOL carryback — (1,113) Investment in solar tax credit (162) — Nondeductible interest expense relating to carrying tax-exempt obligations 26 43 Income from bank owned life insurance (146) (269) Stock option compensation 5 — Other, net 32 (6) Income tax provision $ 3,398 $ 258 Effective income tax rate 14.8% 2.0%