XML 49 R35.htm IDEA: XBRL DOCUMENT v3.22.0.1

Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

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

		2021				2020
Federal:
Current		$	4,518			$	4,102
Deferred			308				(886	)
Total federal income tax expense			4,826				3,216
State:
Current			1,509				1,366
Deferred			425				(201	)
Total state income tax expense			1,934				1,165
Total income tax expense		$	6,760			$	4,381

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

		2021				2020
Income taxes at 21%		$	6,441			$	4,879
Increase (decrease) resulting from:
Tax-exempt interest			(661	)			(761	)
State taxes, net of federal tax benefit			1,174				1,076
New Markets Tax Credits			(764	)			(764	)
Valuation allowance			396				-
Other			174				(49	)
Total income tax expense		$	6,760			$	4,381

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

		2021				2020
Deferred tax assets:
Allowance for loan losses		$	4,146			$	4,294
State operating and alternative minimum tax carryforward			761				729
Fair value adjustments from acquisitions			116				164
Accrued vacation			280				272
Off balance sheet reserve			144				149
Other deferred tax assets			230				207
Total deferred tax assets			5,677				5,815
Deferred tax liabilities:
Net unrealized gains on securities available-for-sale			(955	)			(5,341	)
Goodwill and other intangible assets			(1,135	)			(1,058	)
Bank premises and equipment			(584	)			(609	)
Deferred loan costs			(145	)			(62	)
Other deferred tax liabilities			(314	)			(250	)
Total deferred tax liabilities			(3,133	)			(7,320	)
Valuation allowance			(622	)			(226	)
Net deferred tax asset (liability)		$	1,922			$	(1,731	)

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 http://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 http://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 http://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

X

- References

No definition available.

+ Details

Name:	us-gaap_TableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration