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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule Of Net Deferred Tax Assets | The net deferred tax asset at December 31, 2023 and 2022 consisted of the following components:
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Deferred tax assets: |  |  |  |  |  |
Allowance for credit losses |  | $ | 3,043 |  |  | $ | 2,342 |
Reserve for unfunded commitments |  |  | 101 |  |  |  | 14 |
Share-based compensation |  |  | 327 |  |  |  | 222 |
Accrued postretirement benefits |  |  | 18 |  |  |  | 21 |
Home equity origination costs |  |  | 85 |  |  |  | 81 |
Accrued incentive benefit |  |  | 89 |  |  |  | — |
Nonaccrual interest |  |  | 75 |  |  |  | 48 |
Lease liabilities |  |  | 977 |  |  |  | 1,045 |
Credit carryforward |  |  | 1,689 |  |  |  | 648 |
Securities available for sale |  |  | 4,790 |  |  |  | 5,440 |
Other |  |  | 25 |  |  |  | 26 |
|  | $ | 11,219 |  |  | $ | 9,887 |
Deferred tax liabilities: |  |  |  |  |  |
Property and equipment |  | $ | 853 |  |  | $ | 710 |
Right-of-use assets |  |  | 921 |  |  |  | 1,001 |
Loan servicing rights |  |  | 32 |  |  |  | 144 |
|  | $ | 1,806 |  |  | $ | 1,855 |
Net deferred tax asset |  | $ | 9,413 |  |  | $ | 8,032 |
Schedule Of Components Of Income Tax Expense | Income tax expense for the years ended December 31, 2023 and 2022 consisted of the following components:
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Current tax expense |  | $ | 2,785 |  |  | $ | 3,236 |
Deferred tax (benefit) |  |  | (1,509 | ) |  |  | (86 | )
|  | $ | 1,276 |  |  | $ | 3,150 |
Schedule Of Income Tax Reconciliation | The following table reconciles income tax expense to the statutory federal corporate income tax amount, which was calculated by applying the federal corporate income tax rate to pre-tax income for the years ended December 31, 2023 and 2022.
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Statutory federal corporate tax amount |  | $ | 2,232 |  |  | $ | 3,711 |
Tax-exempt interest (income) |  |  | (76 | ) |  |  | (81 | )
Officer insurance (income) |  |  | (134 | ) |  |  | (131 | )
Net tax credits |  |  | (756 | ) |  |  | (353 | )
Other, net |  |  | 10 |  |  |  | 4 |
|  | $ | 1,276 |  |  | $ | 3,150 |

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- 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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