Income Taxes (Tables)

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Summary of Provision (Benefit) for Income Taxes

The provision for income taxes consists of:

	For the Six Months Ended June 30,
(In Thousands)	2021			2020
Current tax expense	$	91		$	—
Deferred tax benefit		(3,044	)		—
Total	$	(2,953	)	$	—

Summary of Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of deductible and taxable temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities, respectively, are as follows:

(In Thousands)	June 30, 2021			December 31, 2020
Deferred tax assets:
Allowance for loan losses	$	1,008		$	877
Fair value adjustment on acquired loans		515			535
Alternative minimum tax credit		98			98
Net operating loss carryforwards		1,665			1,872
Other		(253	)		(240	)
Total gross deferred tax assets before valuation allowance		3,033			3,142
Valuation allowance		—			(3,044	)
Net deferred tax assets	$	3,033		$	98