INCOME TAXES

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 9 - INCOME TAXES

Income tax expense was as follows for:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Income tax expense for the period	$	2,363		$	2,179		$	7,070		$	6,827
Effective tax rate		17.82	%		19.06	%		17.91	%		18.22	%

The effective tax rates differ from the statutory federal tax rate of 21% for the three and nine months ended September 30, 2022 and 2021 largely due to tax exempt interest income earned on certain investment securities and loans.