INCOME TAXES

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 9 - INCOME TAXES

Income tax expense was as follows for:

	Three Months Ended March 31,
	2024			2023
Income tax expense for the period	$	1,722		$	1,823
Effective tax rate		20.49	%		18.05	%

The effective tax rates differ from the statutory federal tax rate of 21% for the three months ended March 31, 2024 and 2023 largely due to tax exempt interest income earned on certain investment securities and loans.