Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

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

	Years Ended December 31,
	2022		2021
Current
Federal	$	7,933	$	5,500
State	2,077		2,065
	10,010		7,565
Deferred
Federal	(274)		949
State	(152)		202
	(426)		1,151
Income tax expense	$	9,584	$	8,716

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:

	2022				2021
	Amount		Percent of Pre-Tax Income		Amount		Percent of Pre-Tax Income
Expected income tax expense at federal tax rate	$	7,959	21.00	%	$	7,267	21.00	%
State taxes net of federal benefit	1,645		4.34	%	1,631		4.71	%
Nondeductible expenses	262		0.69	%	71		0.21	%
Nontaxable income	(437)		(1.15	%)	(411)		(1.19	%)
Other	155		0.41	%	158		0.46	%
	$	9,584	25.29	%	$	8,716	25.19	%

Schedule of Deferred Tax Assets and Liabilities

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

	2022		2021
Deferred tax assets
Allowance for credit losses	$	5,657	$	4,758
Deferred compensation	3,426		3,509
Lease liability	1,533		1,639
OREO valuation allowance & expenses	20		92
Unrealized loss on investment securities	15,321		684
Depreciation	277		159
Deferred fees	—		—
Other	54		—
	26,288		10,841
Deferred tax liabilities
Fair value adjustments for acquired assets and liabilities	70		92
FHLB stock dividends	98		102
Unrealized gain on investment securities	—		—
Right of use asset	1,463		1,582
Other	—		32
	1,631		1,808
	$	24,657	$	9,033