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Income Taxes (Tables)
9 Months Ended
Sep. 30, 2022
Income Taxes  
Schedule of components of income tax expense

Three months ended September 30, 

2022

2021

    

    

Percent of

  

  

    

Percent of

  

(dollars in thousands)

Amount

Pretax Income

  

Amount

Pretax Income

  

Taxes at statutory federal income tax rate

$

2,637

 

21.0

%

$

3,598

 

21.0

Tax effect of:

 

 

Tax exempt income

(133)

 

(1.1)

%

(134)

 

(0.8)

State income taxes, net of federal benefits

406

3.2

%

756

4.4

Nondeductible items and other

30

 

0.2

%

(156)

 

(0.9)

Applicable income taxes

$

2,940

23.3

%

$

4,064

23.7

Nine months ended September 30, 

2022

2021

    

    

Percent of

  

  

    

Percent of

 

(dollars in thousands)

Amount

Pretax Income

  

Amount

Pretax Income

 

Taxes at statutory federal income tax rate

$

7,906

 

21.0

$

10,993

 

21.0

%

Tax effect of:

 

  

 

  

 

  

 

  

Tax exempt income

 

(372)

 

(1.0)

 

(434)

 

(0.8)

%

State income taxes, net of federal benefits

 

1,515

 

4.0

 

2,407

 

4.6

%

Nondeductible items and other

(496)

(1.3)

(596)

(1.1)

%

Applicable income taxes

$

8,553

 

22.7

$

12,370

 

23.7

%