Note 14 - 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,
(Dollars in thousands)	2024			2023
Current:
Federal	$	2,551		$	2,510
State		391			79
Total Current Tax Expense		2,942			2,589
Deferred:
Federal		(229	)		(287	)
State		44			(14	)
Total Deferred Tax Benefit		(185	)		(301	)
Total Income Tax Expense	$	2,757		$	2,288

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

	Year Ended December 31,
(Dollars in thousands)	2024			2023
Tax at Statutory Income Tax Rate	$	2,639		$	2,620
State Tax		426			51
Tax Exempt Interest		(82	)		(126	)
Tax Credits		(96	)		(75	)
Life Insurance		(148	)		(133	)
Valuation Allowance		(73	)		(63	)
Other		91			14
Total Income Tax Expense	$	2,757		$	2,288

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

	December 31,
(Dollars in thousands)	2024			2023
Deferred Tax Assets:
Deferred Compensation	$	960		$	897
Provision for Credit Losses		2,985			2,722
Reserve for Unfunded Commitments		161			186
Other Real Estate Owned		75			96
Net Fees Deferred for Financial Reporting		52			58
Net Operating Losses		328			401
Unrealized Loss on AFS Securities		10,313			11,615
Tax Credits		—			268
Other		120			34
Total Gross Deferred Tax Assets		14,994			16,277
Less: Valuation Allowance		(328	)		(401	)
Total Deferred Tax Assets		14,666			15,876
Deferred Tax Liabilities:
FHLB Stock Basis Over Tax Basis		72			72
Depreciation		1,247			946
Prepaid Expenses		40			202
Total Deferred Tax Liability		1,359			1,220
Net Deferred Tax Asset	$	13,307		$	14,656