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Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Federal Income Taxes [Abstract]

Schedule Of Deferred Tax Assets And Liabilities

(Dollars in thousands)
Deferred Tax Assets		2023			2022
Allowance for loan losses		$	3,440		$	3,021
Deferred compensation			939			916
Purchase accounting			20			19
Accumulated other comprehensive loss			10,882			13,633
Lease liabilities			1,032			1,309
Other			596			280
Total gross deferred tax assets			16,909			19,178
Deferred Tax Liabilities
Depreciation			3,023			1,079
Right-of-use asset			1,002			1,281
Joint ventures and partnerships			43			45
Pension			694			711
Deferred loan fees and costs, net			346			432
Total gross deferred tax liabilities			5,108			3,548
Net deferred tax asset		$	11,801		$	15,630

Schedule Of Components Of Income Tax Expense (Benefit)

		For the Years Ended December 31
(Dollars in thousands)		2023			2022
Current tax expense (benefit)		$	1,015		$	1,385
Deferred tax expense (benefit)			1,140			1,172
Income tax provision		$	2,155		$	2,557

Schedule Of Effective Income Tax Rate Reconciliation

		For the Years Ended December 31
(Dollars in thousands)		2023			2022
Tax provision at statutory rate		$	3,308		$	3,674
Income on tax-exempt loans and securities			(949)			(1,113)
Investment in solar tax credit			(325)			—
Nondeductible interest expense relating to carrying tax-exempt obligations			215			47
Income from bank owned life insurance			(88)			(86)
Stock option compensation			(1)			5
Other, net			(5)			30
Income tax provision		$	2,155		$	2,557
Effective income tax rate			13.7%			14.6%

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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

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
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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.

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
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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.

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