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