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Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		2024				2023
Deferred Tax Assets
Allowance for credit losses		$	3,641			$	2,624
Acquisition accounting adjustments, net			450				420
Post-retirement benefits			333				214
Core deposit intangible			—				232
Unvested stock-based compensation			94				87
Reserve for letter of credit losses			18				44
Limited partnership investments			2				39
Lease liability			425				69
Unrealized loss on securities available for sale			5,534				5,495
NOL carryover - acquired from Fincastle			1,207				1,337
Loan origination fees, net			2,937				241
		$	14,641			$	10,802
Deferred Tax Liabilities
Depreciation		$	1,043			$	638
Right of use asset			421				69
Investment in partnerships			70				—
Core deposit intangible			2,937				—
Cash flow hedges			565				523
		$	5,036			$	1,230
Net deferred tax assets		$	9,605			$	9,572

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		2024				2023
Current tax expense		$	1,519			$	2,580
Deferred tax expense (benefit)			(437	)			(399	)
		$	1,082			$	2,181

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		2024				2023
Computed tax expense at statutory federal rate		$	1,690			$	2,479
Increase in income taxes resulting from:
Merger expenses			240				—
Other			25				29
Decrease in income taxes resulting from:
Tax-exempt interest and dividend income			(102	)			(156	)
Bargain purchase gain			(613	)			—
Income from bank owned life insurance			(159	)			(171	)
		$	1,082			$	2,181

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

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

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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.

+ References

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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.

+ References

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-Topic 740
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-Name Accounting Standards Codification
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