Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

The following table presents the components of income taxes expense (benefit) for the years ended December 31, 2024, 2023 and 2022:

	Year Ended December 31,
($ in thousands)	2024		2023		2022
Current income tax expense:
Federal	$	6,610	$	6,238	$	7,959
State	3,000		3,332		4,374
Total current income tax expense	9,610		9,570		12,333
Deferred income tax expense (benefit):
Federal	(982)		217		783
State	(618)		(214)		298
Total deferred income tax expense (benefit)	(1,600)		3		1,081
Total income tax expense	$	8,010	$	9,573	$	13,414

Schedule of Effective Tax Rates Differ from Federal Statutory Rates

The following table presents a reconciliation of the applicable statutory U.S. federal income tax rate to the effective tax rate for the periods indicated:

	Year Ended December 31,
	2024		2023		2022
Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
Increase (decrease) in tax rate resulting from:
Meals and entertainment	0.2		0.2		—
State income taxes, net of federal tax benefit	7.8		8.0		8.4
Stock option expense and related excess tax benefits	(0.1)		0.1		—
Company owned life insurance	(0.5)		(0.4)		(0.2)
Other, net	(0.8)		(0.3)		(0.5)
Effective tax rate	27.6	%	28.6	%	28.7	%

Schedule of Net Deferred Tax Assets Included in Statement of Financial Position

The significant components of deferred tax assets and liabilities as of December 31, 2024 and 2023 are reflected in the following table:

	December 31,
($ in thousands)	2024		2023
Deferred tax assets:
Organizational costs	$	15	$	18
Allowance for credit losses	7,331		6,502
Loans held for sale	108		—
Stock-based compensation	574		509
Accrued compensation	322		302
Lease liability	2,323		2,762
State taxes	645		675
Net unrealized loss on AFS debt securities	6,394		6,485
Net unrealized loss on swap	75		—
Nonaccrual loan interest income	224		224
Other	242		279
Total deferred tax assets	18,253		17,756
Deferred tax liabilities:
Loan origination costs	(388)		(1,110)
Depreciation	(498)		(553)
Right of use asset	(2,192)		(2,512)
Other	(282)		(272)
Total deferred tax liabilities	(3,360)		(4,447)
Net deferred tax asset	$	14,893	$	13,309