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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Taxes  
Schedule of components of income tax expense

  ​ ​ ​

2025

  ​ ​ ​

2024

(In thousands)

Taxes currently payable

$

547

$

797

Deferred income taxes

 

(633)

 

(904)

Income tax (benefit) expense

$

(86)

$

(107)

Schedule of reconciliation of income tax expense at the statutory rate to the Company's actual income tax expense

  ​ ​ ​

2025

  ​ ​ ​

2025

 

(In thousands)

Computed at the statutory rate (21%)

 

$

1,610

 

21

%

(Decrease) increase resulting from

Low-income housing and historic tax credits

(28)

 

(0.4)

Other nontaxable and nondeductible items

Tax exempt interest

(1,649)

 

(21.5)

Earnings on bank-owned life insurance - net

(84)

 

(1.1)

Other

67

 

0.9

Other

(2)

 

0.0

Actual (benefit) tax expense

 

$

(86)

$

(1.1)

  ​ ​ ​

2024

(In thousands)

Computed at the statutory rate (21%)

$

1,532

(Decrease) increase resulting from

 

Tax exempt interest

 

(1,571)

Earnings on bank-owned life insurance - net

 

(90)

Low income housing credit

 

(63)

Other

 

85

Actual (benefit) tax expense

$

(107)

Schedule of tax effects of temporary differences related to deferred taxes shown on the balance sheets

  ​ ​ ​

2025

  ​ ​ ​

2024

(In thousands)

Deferred tax assets

Allowance for credit losses

$

925

$

865

Stock based compensation

 

185

 

241

Other real estate

175

Accrued expenses

172

61

Deferred compensation

 

585

 

513

Non-accrual loan interest

 

53

 

1

Lease liability

621

603

Net operating loss carryforward

715

561

Tax credit carryforward

930

474

Unrealized loss on securities available for sale

1,385

2,547

Other

 

 

12

Total deferred tax assets

 

5,746

 

5,878

 

 

  ​

Deferred tax liabilities

 

  ​

 

  ​

Depreciation

 

(734)

(433)

Deferred loan costs, net

 

(3)

(7)

FHLB stock dividends

 

(60)

(60)

Prepaid expenses

 

(32)

(36)

Intangibles

 

(30)

Right of use asset

(549)

(566)

Employee benefit expense

 

(985)

(735)

Total deferred tax liabilities

 

(2,363)

(1,867)

Net deferred tax asset

$

3,383

$

4,011