Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Allocation of federal and state income taxes between current and deferred portions is as follows:

	Years Ended December 31,
	2021		2020
Current
Federal	$	5,500	$	6,412
State	2,065		839
	7,565		7,251
Deferred
Federal	949		(2,018)
State	202		(739)
	1,151		(2,757)
Income tax expense	$	8,716	$	4,494

Schedule of Effective Income Tax Rate Reconciliation

The reasons for the differences between the statutory federal income tax rate and the effective tax rates are summarized as follows:

	2021				2020
	Amount		Percent of Pre-Tax Income		Amount		Percent of Pre-Tax Income
Expected income tax expense at federal tax rate	$	7,267	21.00	%	$	4,332	21.00	%
State taxes net of federal benefit	1,631		4.71	%	1,071		5.19	%
Nondeductible expenses	71		0.21	%	85		0.41	%
Nontaxable income	(411)		(1.19	%)	(396)		(1.91	%)
Income tax apportionment adjustment	—		0.00	%	(743)		(3.60)	%
Other	158		0.46	%	145		0.70	%
	$	8,716	25.19	%	$	4,494	21.79	%

Schedule of Deferred Tax Assets and Liabilities

The net deferred tax assets in the accompanying balance sheets include the following components:

	2021		2020
Deferred tax assets
Allowance for loan losses	$	4,758	$	5,018
Deferred compensation	3,509		3,218
Lease liability	1,639		2,090
OREO valuation allowance & expenses	92		718
Unrealized loss on investment securities	684		—
Depreciation	159		158
Deferred fees	—		283
Other	—		287
	10,841		11,772
Deferred tax liabilities
Fair value adjustments for acquired assets and liabilities	92		111
FHLB stock dividends	102		102
Unrealized gain on investment securities	—		1,627
Right of use asset	1,582		2,023
Other	32		—
	1,808		3,863
	$	9,033	$	7,909