Income Taxes

9 Months Ended

Sep. 30, 2023

Income Taxes [Abstract]

Income Taxes

Note 9. Income Taxes

A reconciliation of the differences between income taxes computed at the federal statutory income tax rate and income tax expense (benefit) is as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Federal income tax provision at statutory rate of 21%	$	449		$	(199	)	$	533		$	154
Dividends-received deduction		(10	)		(6	)		(27	)		(18	)
Meals and entertainment		9			29			32			49
Vested stock and club dues		11			(7	)		14			(7	)
Parking disallowance		5			4			13			12
Penalties and fines		—			—			—			149
Adjustment for prior years’ estimates to actual		(85	)		(86	)		(85	)		(86	)
Income tax expense (benefit)	$	379		$	(265	)	$	480		$	253

The components of income tax expense (benefit) were:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Current – Federal	$	790		$	435		$	2,191		$	1,647
Deferred – Federal		(411	)		(700	)		(1,711	)		(1,394	)
Total	$	379		$	(265	)	$	480		$	253