Income Taxes (Tables)

9 Months Ended

Sep. 30, 2022

Income Taxes [Abstract]

Components of Income Tax Expense

September 30, 2022

December 31, 2021

Deferred tax assets:

Net operating loss

$

23,580

$

28,819

Allowance for credit losses

4,208

3,816

Lease liability

3,418

3,595

Unrealized losses on available for sale securities

15,345

817

Deferred loan fees

2

400

Depreciable property

146

361

Stock option compensation

332

241

Accruals

467

600

Other, net

22

2

Deferred tax assets:

47,520

38,651

Deferred tax liability:

Lease right of use asset

(3,418)

(3,595)

Deferred expenses

(174)

(127)

Deferred tax liability

(3,592)

(3,722)

Net deferred tax assets

$

43,928

$

34,929

Statutory Tax Expense

Nine Months Ended September 30,

2022

2021

Federal taxes at statutory rate

$

4,460

$

4,258

State income taxes, net of federal tax benefit

923

710

Bank owned life insurance

(202)

(122)

Other, net

348

3

Total tax expense

$

5,529

$

4,849

Provision for Income Taxes

Nine Months Ended September 30,

2022

2021

Current:

Federal

$

-

$

-

State

-

-

Total current

-

-

Deferred:

Federal

4,342

3,962

State

1,187

887

Total deferred

5,529

4,849

Total tax expense

$

5,529

$

4,849