Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense for the years indicated are as follows: 

	Year Ended December 31,
	2022		2021
	(In thousands)
Current	$	2,952	$	2,690
Deferred	217		235
Total income tax expense	$	3,169	$	2,925

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the tax provision based on the statutory corporate rate of 21% for the year ended December 31, 2022, and 2021, on pretax income is as follows:

	Year Ended December 31,
	2022		2021
	(In thousands)
Income tax expense at statutory rate	$	3,441	$	3,187
Income tax effect of:
Tax exempt interest, net	(50)		(54)
BOLI income, net	(207)		(229)
Other, net	(15)		21
Total income tax expense	$	3,169	$	2,925

Schedule of Deferred Tax Assets and Liabilities

The deferred tax assets and liabilities, included in the accompanying consolidated balance sheets, consisted of the following at the dates indicated: 

	December 31,
	2022		2021
	(In thousands)
Deferred tax assets:
Charitable contributions	$	—	$	—
ALLL	$	3,198	$	3,288
Reserve for unfunded commitments	52		59
Deferred compensation	218		194
Net unrealized loss on investments available-for-sale	3,811		—
Employee benefit plans	273		385
Accrued expenses	104		114
Core deposit intangible	63		53
Expenses to facilitate branch acquisition	18		20
Split dollar life insurance	101		87
Lease liability	725		799
Total deferred tax assets	8,563		4,999
Deferred tax liabilities:
FHLB stock dividends	1		3
Loan origination fees and costs	1,246		1,098
Net unrealized gain on derivative cash flow hedge	2,201		312
Net unrealized gain on investments available for sale	—		42
Fixed assets	1,699		1,818
Goodwill	67		54
Right of use asset	688		766
Other, net	64		56
Total deferred tax liabilities	$	5,966	$	4,149
Deferred tax assets, net	$	2,597	$	850