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Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

		For the years ended December 31,
		2024				2023
Current expense		$	922			$	3,012
Deferred expense			26				347
Total income tax expense		$	948			$	3,359

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

		For the years ended December 31,
		2024				2023
Expense computed at the statutory federal tax rate		$	1,054			$	2,678
State and local taxes, net of federal income tax effect			(140	)			633
Other, net			34				48
		$	948			$	3,359
Effective income tax rate			18.88	%			26.34	%

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

		December 31,
		2024				2023
Gross deferred tax assets
Allowance for credit losses		$	1,969			$	2,170
Alternative minimum tax and net operating loss carryforwards			4,006				3,832
Lease liability			914				1,025
Other			1,215				1,349
Unrealized loss on securities			197				922
			8,301				9,298
Gross deferred tax liabilities
Net deferred loan origination costs			(936	)			(1,051	)
Purchase accounting adjustments			(1,316	)			(1,369	)
Right of use asset			(914	)			(1,025	)
Fixed assets			(1,007	)			(1,032	)
Other			(367	)			(309	)
			(4,540	)			(4,786	)
		$	3,761			$	4,512

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

		December 31,
		2024				2023
Beginning of year		$	324			$	305
Additions based on tax positions related to the current year			24				63
Additions for tax positions of prior years			21				29
Reductions due to the statute of limitations and reductions for tax positions of prior years			(77	)			(73	)
End of year		$	292			$	324

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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