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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense (benefit) attributable to income from operations consisted of the following: Schedule of Components of Income Tax Expense (Benefit)
|  | 2020 |  |  | 2019 |  |  | 2018 |
(Dollars in thousands) |  | Years ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 4,582 |  |  | $ | 1,805 |  |  | $ | 396 |
State |  |  | 708 |  |  |  | (157 | ) |  |  | (197 | )
Total current |  |  | 5,290 |  |  |  | 1,648 |  |  |  | 199 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (442 | ) |  |  | (160 | ) |  | $ | 875 |
State |  |  | (8 | ) |  |  | 22 |  |  |  | 155 |
Total deferred |  |  | (450 | ) |  |  | (138 | ) |  |  | 1,030 |
Deferred tax valuation allowance |  |  | (53 | ) |  |  | (57 | ) |  |  | (146 | )
Deferred tax remeasurement |  |  | - |  |  |  | - |  |  |  | 85 |
Income tax expense |  | $ | 4,787 |  |  | $ | 1,453 |  |  | $ | 1,168 |
Schedule of Effective Income Tax Rate Reconciliation | The reasons for the difference between actual income tax expense (benefit) and expected income tax expense attributable to income from operations at the statutory federal income tax rate were as follows: Schedule of Effective Income Tax Rate Reconciliation
|  | 2020 |  |  | 2019 |  |  | 2018 |
(Dollars in thousands) |  | Years ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Computed “expected” tax expense |  | $ | 5,099 |  |  | $ | 2,544 |  |  | $ | 2,435 |
(Reduction) increase in income taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt interest income, net |  |  | (695 | ) |  |  | (748 | ) |  |  | (850 | )
Deferred tax remeasurement |  |  | - |  |  |  | - |  |  |  | 85 |
Excess tax benefit from stock option exercise |  |  | (26 | ) |  |  | - |  |  |  | (119 | )
Bank owned life insurance |  |  | (137 | ) |  |  | (165 | ) |  |  | (140 | )
Reversal of unrecognized tax benefits, net |  |  | (229 | ) |  |  | (558 | ) |  |  | (512 | )
State income taxes, net of federal benefit |  |  | 800 |  |  |  | 407 |  |  |  | 364 |
Investment tax credits |  |  | (28 | ) |  |  | (15 | ) |  |  | (24 | )
Other, net |  |  | 3 |  |  |  | (12 | ) |  |  | (71 | )
Income tax (benefit) expense |  | $ | 4,787 |  |  | $ | 1,453 |  |  | $ | 1,168 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to the significant portions of the deferred tax assets and liabilities at the following dates were as follows: Schedule of Deferred Tax Assets and Liabilities
|  | 2020 |  |  | 2019 |
(Dollars in thousands) |  | As of December 31, |
|  | 2020 |  |  | 2019 |
Deferred tax assets: |  |  |  |  |  |  |  |
Loans, including allowance for loan losses |  | $ | 2,040 |  |  | $ | 1,590 |
Net operating loss carry forwards |  |  | 273 |  |  |  | 326 |
State taxes |  |  | 614 |  |  |  | 414 |
Net deferred loan fees |  |  | 432 |  |  |  | 11 |
Acquisition costs |  |  | 161 |  |  |  | 182 |
Deferred compensation arrangements |  |  | 66 |  |  |  | 69 |
Investments |  |  | 54 |  |  |  | 45 |
Other, net |  |  | 158 |  |  |  | 39 |
Total deferred tax assets |  |  | 3,798 |  |  |  | 2,676 |
Less valuation allowance |  |  | (273 | ) |  |  | (326 | )
Total deferred tax assets, net of valuation allowance |  |  | 3,525 |  |  |  | 2,350 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Unrealized gain on investment securities available-for-sale |  |  | 3,065 |  |  |  | 1,700 |
Premises and equipment, net of depreciation |  |  | 500 |  |  |  | 361 |
Mortgage servicing rights |  |  | 777 |  |  |  | 492 |
Prepaid expenses |  |  | 302 |  |  |  | 157 |
Intangible assets |  |  | 278 |  |  |  | 181 |
FHLB stock dividends |  |  | 12 |  |  |  | 6 |
Total deferred tax liabilities |  |  | 4,934 |  |  |  | 2,897 |
Net deferred tax liability |  | $ | (1,409 | ) |  | $ | (547 | )
Schedule of Unrecognized Tax Benefits | The Company has unrecognized tax benefits representing tax positions for which a liability has been established. A reconciliation of the beginning and ending amount of the liability relating to unrecognized tax benefits is as follows: Schedule of Unrecognized Tax Benefits
(Dollars in thousands) |  | Years ended December 31, |
|  | 2020 |  |  | 2019 |
Unrecognized tax benefits at beginning of year |  | $ | 1,416 |  |  | $ | 1,472 |
Gross increases to current year tax positions |  |  | 1,100 |  |  |  | 554 |
Gross decreases to prior year’s tax positions |  |  | (26 | ) |  |  | (2 | )
Lapse of statute of limitations |  |  | (352 | ) |  |  | (608 | )
Unrecognized tax benefits at end of year |  | $ | 2,138 |  |  | $ | 1,416 |

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