XML 35 R23.htm IDEA: XBRL DOCUMENT v3.22.2
Income Taxes (Tables)
6 Months Ended
Jun. 30, 2022
Income Taxes [Abstract]  
Components of Income Tax Expense
June 30, 2022
December 31, 2021
Deferred tax assets:
Net operating loss
$
25,768
$
28,819
Allowance for credit losses
4,001
3,816
Lease liability
3,440
3,595
Unrealized losses on available for sale securities
12,514
817
Deferred loan fees
-
400
Depreciable property
134
361
Stock option compensation
298
241
Accruals
447
600
Other, net
144
2
Deferred tax assets:
46,746
38,651
Deferred tax liability:
Deferred loan cost
(85)
-
Lease right of use asset
(3,440)
(3,595)
Deferred expenses
(162)
(127)
Deferred tax liability
(3,687)
(3,722)
Net deferred tax assets
$
43,059
$
34,929
Statutory Tax Expense
Six Months Ended June 30,
2022
2021
Federal taxes at statutory rate
$
2,880
$
2,435
State income taxes, net of federal tax benefit
596
406
Bank owned life insurance
(134)
(82)
Other, net
224
2
Total
 
tax expense
$
3,566
$
2,761
Provision for Income Taxes
Six Months Ended June 30,
2022
2021
Current:
Federal
$
-
$
-
State
-
-
Total
 
current
-
-
Deferred:
Federal
2,778
2,268
State
788
493
Total
 
deferred
3,566
2,761
Total
 
tax expense
$
3,566
$
2,761