XML 94 R81.htm IDEA: XBRL DOCUMENT v3.24.1
INCOME TAXES - Summary of components of the net deferred tax asset and liabilities (Details) - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Deferred Tax Assets:    
Net unrealized losses on debt securities available-for-sale and derivatives $ 7,880,000 $ 7,857,000
Allowance for loan losses 1,454,000 1,738,000
Provision for unfunded commitments 35,000 14,000
Deferred compensation 218,000 238,000
Contributions 4,000 6,000
Accrued rent expense 106,000 103,000
Operating lease liabilities 415,000 426,000
Finance lease liabilities 0 1,000
Limited partnership investments 322,000 313,000
Impairment loss on securities 4,000 4,000
Deferred health insurance 53,000 48,000
Capital and net operating loss carry forwards 285,000 258,000
Valuation allowance related to state net operating losses (285,000) (258,000)
Total 10,491,000 10,748,000
Deferred Tax Liabilities:    
Loan fees and costs 225,000 237,000
Net unrealized gains on marketable equity securities 231,000 319,000
Operating lease right-of-use assets 415,000 426,000
Accumulated depreciation 438,000 287,000
Accretion 172,000 36,000
Mortgage servicing rights 58,000 57,000
Intangibles 257,000 257,000
Total 1,796,000 1,619,000
Net Deferred Tax Asset $ 8,695,000 $ 9,129,000