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NOTE 13 – NET DEFERRED TAX ASSET AND INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
Years ended December 31, (in thousands)    2022      2021      2020  
Federal  $3,364   $3,340   $3,487 
State   338    538    566 
Current provision   3,702    3,878    4,053 
Federal   (140)   327    (1,335)
State   (23)   62    (265)
Deferred (benefit) expense   (163)   389    (1,600)
Income tax provision  $3,539   $4,267   $2,453 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
Years ended December 31, (in thousands)    2022      2021      2020  
Income tax at statutory federal tax rate   21.00%   21.00%   21.00%
State tax, net of federal tax benefit   1.28    2.30    1.97 
Tax exempt income and dividends received deduction   (3.01)   (2.52)   (3.69)
BOLI interest and gain   (0.87)   (0.56)   (1.60)
Other   (0.17)   0.35    (0.64)
Effective income tax rates   18.23%   20.57%   17.04%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
December 31, (in thousands)    2022      2021  
Allowance for loan losses  $3,633   $3,170 
Interest on non-performing loans   99    157 
Accrued deferred compensation   472    488 
Post-retirement benefits   8    11 
Deferred loan costs, net        17 
Other real estate owned write-downs        4 
Restricted stock awards   390    361 
Net unrealized holding losses on available-for-sale securities   5,509      
Write-down of securities   33      
Mark-to-market adjustments of securities   31      
Other   118    183 
Gross deferred tax assets   10,293    4,391 
Deferred loan fees, net   (242)   (69)
Goodwill and core deposit intangible asset   (644)   (615)
Accelerated depreciation   (763)   (681)
Prepaid expenses        (32)
Gain on disposal        (5)
Mortgage servicing rights   (152)   (169)
Net unrealized holding gains on available-for-sale securities        (232)
Gross deferred tax liabilities   (1,801)   (1,803)
Net deferred tax asset  $8,492   $2,588