XML 48 R35.htm IDEA: XBRL DOCUMENT
v3.25.1

Note 6 - Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Notes Tables |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
|  | (Dollars in thousands) |
|  | 2024 |  |  | 2023 |
Federal: |  |  |  |  |  |  |  |
Current |  | $ | 309 |  |  | $ | 92 |
Deferred |  |  | 622 |  |  |  | (584 | )
State: |  |  |  |  |  |  |  |
Current |  |  | 371 |  |  |  | 246 |
Deferred, net of valuation allowance |  |  | 23 |  |  |  | (89 | )
Income tax expense (benefit) |  | $ | 1,325 |  |  | $ | (335 | )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
|  | (Dollars in thousands) |
|  | 2024 |  |  | 2023 |
Federal statutory rate |  |  | 21 | % |  |  | 21 | %
Tax expense at statutory rate |  | $ | 2,826 |  |  | $ | 1,689 |
State tax, net of federal effect |  |  | 311 |  |  |  | 124 |
Tax exempt income |  |  | (1,249 | ) |  |  | (1,314 | )
Bank owned life insurance |  |  | (171 | ) |  |  | (161 | )
Captive insurance |  |  | - |  |  |  | (159 | )
Tax credit investments |  |  | (486 | ) |  |  | (531 | )
Other |  |  | 94 |  |  |  | 17 |
Total income tax expense (benefit) |  | $ | 1,325 |  |  | $ | (335 | )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
|  | (Dollars in thousands) |
|  | 2024 |  |  | 2023 |
Deferred tax assets: |  |  |  |  |  |  |  |
Allowance for credit losses |  | $ | 5,128 |  |  | $ | 5,686 |
Deferred compensation |  |  | 374 |  |  |  | 356 |
Unrealized depreciation on securities available-for-sale. |  |  | 18,319 |  |  |  | 16,285 |
Net operating loss |  |  | 6,120 |  |  |  | 6,546 |
Tax credits |  |  | 673 |  |  |  | 683 |
Nonaccrual loan interest income |  |  | 173 |  |  |  | 99 |
Share based compensation |  |  | 267 |  |  |  | 293 |
Unqualified deferred compensation plan |  |  | 60 |  |  |  | 67 |
Accrued compensation |  |  | 241 |  |  |  | 260 |
Purchase accounting |  |  | 548 |  |  |  | 426 |
Deferred loan costs, net of fees |  |  | 432 |  |  |  | 337 |
Lease liability |  |  | 3,916 |  |  |  | 87 |
Other |  |  | 213 |  |  |  | 267 |
Total deferred tax assets |  |  | 36,464 |  |  |  | 31,392 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Depreciation |  |  | (874 | ) |  |  | (1,213 | )
Prepaid expenses |  |  | (480 | ) |  |  | (491 | )
Mortgage servicing rights |  |  | (217 | ) |  |  | (249 | )
Deferred stock dividends |  |  | (122 | ) |  |  | (119 | )
Goodwill |  |  | (701 | ) |  |  | (608 | )
Partnership |  |  | (254 | ) |  |  | (383 | )
Lease right of use |  |  | (4,124 | ) |  |  | (83 | )
Other |  |  | (174 | ) |  |  | (118 | )
Total deferred tax liabilities |  |  | (6,946 | ) |  |  | (3,264 | )
Valuation allowance |  |  | (63 | ) |  |  | (62 | )
Net deferred tax asset |  | $ | 29,455 |  |  | $ | 28,066 |

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://www.xbrl.org/2009/role/commonPracticeRef -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 + 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + 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