XML 57 R41.htm IDEA: XBRL DOCUMENT v3.22.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes

		For The Year Ended December 31,
($ in thousands)		2022				2021
Taxes currently payable		$	86			$	2,144
Deferred provision			2,709				2,302
Income tax expense		$	2,795			$	4,446

Schedule of reconciliation of income tax expense

		For The Year Ended December 31,
($ in thousands)		2022				2021
Computed at the statutory rate (21%)		$	3,216			$	4,772
Increase (decrease) resulting from
Tax exempt interest			(111	)			(85	)
BOLI income			(106	)			(60	)
Sec. 831(b) election			(199	)			(183	)
Other			(5	)			2
Actual tax expense		$	2,795			$	4,446

Schedule of temporary differences related to deferred taxes shown

		For The Year Ended December 31,
($ in thousands)		2022				2021
Deferred tax assets
Allowance for loan losses		$	2,902			$	2,899
Unrealized losses on available-for-sale securities			8,538				491
Capitalized research and development costs			117				-
Accrued bonus			142				281
Net operating loss			5,410				-
Other			854				703
			17,963				4,374
Deferred tax liabilities
Depreciation			(1,117	)			(1,242	)
Mortgage servicing rights			(2,836	)			(2,546	)
Purchase accounting adjustments			(1,598	)			(1,619	)
Prepaids			(527	)			(477	)
Net deferred loan costs			(93	)			(66	)
Section 475 MTM			(8,538	)			(491	)
FHLB stock dividends			(271	)			(288	)
			(14,980	)			(6,729	)
Net deferred tax asset (liability)		$	2,983			$	(2,355	)

X

- References

No definition available.

+ Details

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

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 https://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 https://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 https://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