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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2023
Income Taxes  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31
(Dollars in thousands)
2023
2022
Current income tax (benefit) expense:
Federal
$
(448)
1,461
State
(134)
356
Total current income tax (benefit) expense
(582)
1,817
Deferred income tax (benefit) expense:
Federal
(293)
556
State
98
130
Total deferred
 
income tax (benefit) expense
(195)
686
Total income tax (benefit) expense
 
$
(777)
2,503
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2023
2022
Percent of
Percent of
pre-tax
pre-tax
(Dollars in thousands)
Amount
earnings
Amount
earnings
Earnings before income taxes
$
618
12,849
Income taxes at statutory rate
130
21.0
%
2,698
21.0
%
Tax-exempt interest
(493)
(79.8)
(523)
(4.1)
State income taxes, net of
 
federal tax effect
(43)
(7.0)
346
2.7
New Markets Tax Credit
(356)
(57.6)
(356)
(2.8)
Bank-owned life insurance
(88)
(14.2)
141
1.1
Other
73
11.9
197
1.6
Total income tax (benefit) expense
 
$
(777)
(125.7)
%
2,503
19.5
%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31
(Dollars in thousands)
2023
2022
Deferred tax assets:
Allowance for credit losses
$
1,724
1,448
Unrealized loss on securities
9,734
13,722
Net operating loss carry-forwards
253
Tax credit carry-forwards
356
Accrued bonus
 
185
228
Right of use liability
128
153
Other
71
70
Total deferred
 
tax assets
12,451
15,621
Deferred tax liabilities:
Premises and equipment
1,315
767
Originated mortgage servicing rights
249
289
Right of use asset
122
148
New Markets Tax Credit investment
181
179
Other
332
469
Total deferred
 
tax liabilities
2,199
1,852
Net deferred tax asset
$
10,252
13,769
Schedule of Deferred Tax Asset Rollforward [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31
(Dollars in thousands)
2023
2022
Net deferred tax asset (liability):
Balance, beginning of year
$
13,769
435
Cumulative effect of change in accounting standard
276
Deferred tax expense related to continuing operations
195
(686)
Stockholders' equity, for accumulated
 
other comprehensive income
(3,988)
14,020
Balance, end of year
$
10,252
13,769