Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision for income taxes are as follows:

Year ended December 31,	2024			2023			2022
Current Federal income taxes	$	2,739		$	2,109		$	3,543
Current state income taxes		80			83			180
Deferred Federal income taxes (benefits)		93			71			36
Deferred state income taxes (benefits)		(169	)		(15	)		(102	)
Valuation adjustment		168			(4	)		8
Net provision	$	2,911		$	2,244		$	3,665

Schedule of Deferred Tax Assets and Liabilities

December 31,	2024		2023
Deferred tax assets
Allowance for credit losses on loans	$	1,882	$	1,859
Net unrealized holding losses on investment    securities available-for-sale		18,226		17,692
Net unrealized holding losses on investment    rate swaps		—		367
Non-accrual interest income		200		170
Leasing liability		630		637
Deferred revenue		113		—
Incurred but not reported medical expense		34		27
Bonus		192		88
State net operating loss carryforward		171		30
Other		106		61
Total deferred tax assets		21,554		20,931
Deferred tax liabilities
Deferred loan income		531		487
Depreciation		286		215
Mortgage servicing rights		81		87
Net unrealized holding losses on investment    rate swaps		1,040		—
Fair value remeasurements on interest rate swap		22		12
Fair value adjustment on equity securities		—		61
Prepaid expenses		262		203
Right of use asset		564		572
Subordinated debt costs		263		—
Other		8		—
Total deferred tax liabilities		3,057		1,637
Valuation allowance		172		4
Net deferred tax asset	$	18,325	$	19,290

Schedule of Effective Income Tax Rate Reconciliation

Year ended December 31,	2024						2023						2022
	Dollar			%			Dollar			%			Dollar			%
Provision at statutory rate	$	3,015			21.0	%	$	2,463			21.0	%	$	4,113			21.0	%
Tax-exempt interest and dividend income		(194	)		(1.4	)		(267	)		(2.3	)		(504	)		(2.6	)
Bank-owned life insurance		(68	)		(0.5	)		(67	)		(0.6	)		(75	)		(0.4	)
Stock-based compensation expense		27			0.2			26			0.2			20			0.1
State income tax		(47	)		(0.3	)		53			0.5			62			0.3
Other		10			0.1			40			0.4			41			0.2
Income tax provision		2,743			19.1			2,248			19.2			3,657			18.7
Valuation Adjustment		168			1.2			(4	)		(0.1	)		8			0.0
	$	2,911			20.3	%	$	2,244			19.1	%	$	3,665			18.7	%