XML 59 R47.htm IDEA: XBRL DOCUMENT v3.25.0.1
Note 13 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2024
Notes Tables  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
  

2024

  

2023

  

2022

 

Income taxes currently payable

 $518   2,955   5,163 

Deferred income tax provision (benefit)

  1,951   (323)  (345)

Provision for income taxes

 $2,469   2,632   4,818 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
  

2024

  

2023

  

2022

 

Statutory tax rate

  21.0%  21.0%  21.0%

Increase (decrease) resulting from -

            

Tax exempt interest

  (0.7)%  (0.9)%  (0.6)%

Tax exempt income on bank owned life insurance

  (2.2)%  (1.6)%  (0.8)%

Captive insurance premium income

  (1.5)%  (0.8)%  (0.9)%

Affordable housing tax credit limited partnerships

  (2.0)%  (2.0)%  (0.8)%

Nondeductible merger-related expenses

  0.9%  1.7%  %

Other, net

  0.0%  (0.2)%  %

Effective tax rate

  15.5%  17.2%  17.9%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
  

2024

  

2023

 

Deferred tax assets:

        

Allowance for credit losses

 $2,530   2,217 

Net unrealized losses on investment securities available-for-sale

  5,101   5,923 

Fair value adjustment on loans acquired from mergers

  4,981   5,895 

Benefit plans

  203   277 

Deferred compensation

  556   580 

Minimum pension liability

     15 

Operating lease liabilities

  1,198   1,242 

Net operating loss carryforwards

  4,551    

Tax credit carryforwards

  718    

Other

  420   478 
   20,258   16,627 

Deferred tax liabilities:

        

Depreciation of premises and equipment

  (1,527)  (1,395)

Amortization of intangibles

  (3,588)  (2,808)

Mortgage servicing rights

  (653)  (865)

Prepaid expenses

  (575)  (525)

FHLB stock dividends

  (589)  (501)

Operating lease right-of-use assets

  (1,198)  (1,243)

Fair value adjustment on time deposits acquired from mergers

     (222)

Deferred gain on loans sold

  (305)  (305)

Other, net

  (130)  (198)
   (8,565)  (8,062)

Net deferred tax assets (liabilities)

 $11,693   8,565