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Note 11 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Notes Tables  
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
  

As of December 31,

 

(dollars in thousands)

 

2022

  

2021

 

Deferred tax assets:

        

Allowance for loan losses

 $3,601  $3,281 

Net unrealized losses on available-for-sale securities

  18,914   - 

Deferred interest from non-accrual assets

  226   251 

Operating lease liabilities

  1,965   2,022 

Acquisition accounting

  1,475   2,087 

Other

  1,241   1,029 

Total

  27,422   8,670 
         

Deferred tax liabilities:

        

Net unrealized gains on available-for-sale securities

  -   (48)

Loan fees and costs

  (1,825)  (1,397)

Automobile leasing

  (6,635)  (5,162)

Operating lease right-of-use assets

  (1,815)  (1,891)

Depreciation

  (1,458)  (1,594)

Mortgage loan servicing rights

  (341)  (357)

Total

  (12,074)  (10,449)

Deferred tax liability, net

 $15,348  $(1,779)
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
  

Years ended December 31,

 

(dollars in thousands)

 

2022

  

2021

  

2020

 
             

Current

 $3,612  $4,904  $2,336 

Deferred

  1,835   (903)  (87)

Total provision for income taxes

 $5,447  $4,001  $2,249 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
  

Years ended December 31,

 
             

(dollars in thousands)

 

2022

  

2021

  

2020

 

Expected provision at the statutory rate

 $7,437  $5,873  $3,203 

Tax-exempt income

  (2,163)  (1,686)  (865)

Bank owned life insurance

  (242)  (232)  (167)

Nondeductible interest expense

  175   87   54 

Nondeductible other expenses and other, net

  306   49   (8)

Tax credits

  (120)  (135)  - 

State income tax

  54   45   32 

Actual provision for income taxes

 $5,447  $4,001  $2,249