Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes

Schedule of components of the provision for income taxes

	Years Ended December 31,
	2022		2021
Current expense:
Federal	$	1,621	$	2,042
State		264		284
Total current expense		1,885		2,326
Deferred expense:
Federal		14		1,107
State		4		1,306
Change in valuation allowance		(4)		(1,306)
Total deferred expense		14		1,107
Total provision for income taxes	$	1,899	$	3,433

Schedule of differences between the provision for income taxes and statutory federal income tax rate

	Years ended December 31,
	2022				2021
Provision at statutory rate	$	1,868	21.00	%	$	3,148	21.00	%
Tax exempt income		(145)	(1.63)	%		(125)	(0.83)	%
State income taxes, net of federal income tax benefit		209	2.35	%		192	1.28	%
Other, net		(33)	(0.37)	%		218	1.45	%
Effective income tax and rate	$	1,899	21.35	%	$	3,433	22.90	%

Schedule of tax effects of temporary differences of the deferred tax assets and deferred tax liabilities

	December 31,
	2022		2021
Deferred tax assets:
Allowance for loan losses	$	2,145	$	2,041
Deferred expenses		28		39
Deferred compensation		1,493		1,538
Unrecognized pension liability		1,063		1,037
Postretirement liability		975		920
Unrealized loss on securities		7,494		727
Other		576		431
Gross deferred tax assets		13,774		6,733
Deferred tax liabilities:
Prepaid expenses		(467)		(262)
Prepaid pension		(1,304)		(1,275)
Deferred loan fees		(209)		(154)
Depreciation and amortization		(563)		(525)
Mortgage servicing rights		(650)		(711)
Gross deferred tax liabilities		(3,193)		(2,927)
Net deferred tax asset		10,581		3,806
Deferred tax valuation allowance		(450)		(454)
Deferred tax assets, net of allowance	$	10,131	$	3,352