Note 9 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended December 31,
	2024			2023
Current	$	2,383		$	2,234
Deferred tax (benefit) expense		(884	)		750
Total income tax expense	$	1,499		$	2,984

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31,
	2024			2023
Computed “expected” income tax expense	$	1,916		$	3,922
Tax-exempt interest income		(766	)		(705	)
Nondeductible interest expense		291			181
Other, net (1)		58			(414	)
Reported income tax expense	$	1,499		$	2,984

(1)Other differences stem primarily from BOLI income, non-deductible merger expenses, amortization of municipal bond premiums and dividends paid to the Company's employee stock ownership program.

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31,
	2024			2023
Deferred tax assets:
Allowance for credit losses and deferred fees and costs	$	2,407		$	2,155
Defined benefit pension plan		-			614
Deferred compensation and other liabilities		1,171			889
Net unrealized loss on securities available for sale		16,506			16,629
Accrued expense		2			-
Lease accounting		275			237
Unvested stock-based compensation		5			5
Fair value adjustments to acquired assets		1,562			-
Net operating loss of FCB, acquired		130			-
Total deferred tax assets	$	22,058		$	20,529
Deferred tax liabilities:
Defined benefit pension plan	$	(87	)		-
Fixed assets		(857	)		(597	)
Goodwill		(1,228	)		(1,228	)
Core deposit intangibles		(391	)		-
Defined benefit pension plan, prepaid portion		(2,674	)		(2,034	)
Lease accounting		(269	)		(230	)
Discount accretion of securities		(175	)		(122	)
Total deferred tax liabilities		(5,681	)		(4,211	)
Net deferred tax assets	$	16,377		$	16,318