INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of deferred tax assets and deferred tax liabilities

	December 31,		December 31,
(In Thousands)	2024		2023
Deferred tax assets:
Unrealized holding losses on securities	$	10,459	$	10,335
Allowance for credit losses on loans		4,400		4,230
Purchase accounting adjustments on loans		333		470
Deferred compensation		1,465		1,352
Deferred loan origination fees		697		731
Operating leases liability		692		787
Accrued incentive compensation		678		463
Net operating loss carryforward		423		541
Other deferred tax assets		1,520		1,316
Total deferred tax assets		20,667		20,225
Deferred tax liabilities:
Right-of-use assets from operating leases		692		787
Core deposit intangibles		456		544
Bank premises and equipment		290		291
Defined benefit plans - ASC 835		90		119
BOLI surrender		0		950
Other deferred tax liabilities		41		93
Total deferred tax liabilities		1,569		2,784
Deferred tax asset, net	$	19,098	$	17,441

Schedule of components of income tax expense

(In Thousands)	2024		2023		2022
Currently payable	$	7,417	$	5,499	$	5,998
Tax expense resulting from allocations of certain tax benefits to equity or as a reduction in other assets		0		0		134
Deferred		(1,504)		836		(400)
Total provision	$	5,913	$	6,335	$	5,732

Schedule of reconciliation of income tax

	2024			2023			2022
(Dollars In Thousands)	Amount		%	Amount		%	Amount		%
Expected provision	$	6,693	21.0	$	6,401	21.0	$	6,794	21.0
Tax-exempt interest income		(964)	(3.0)		(964)	(3.2)		(1,029)	(3.2)
Increase in cash surrender value and other income from life insurance, net		(369)	(1.2)		(586)	(1.9)		(103)	(0.3)
ESOP dividends		(144)	(0.5)		(143)	(0.5)		(130)	(0.4)
Surrender of bank-owned life insurance		0	0.0		950	3.1		0	0.0
State income tax, net of federal benefit		297	0.9		329	1.1		296	0.9
Nondeductible interest expense		368	1.3		283	0.9		87	0.3
Other, net		32	0.1		65	0.3		(183)	(0.6)
Effective income tax provision	$	5,913	18.6	$	6,335	20.8	$	5,732	17.7