Income Taxes

3 Months Ended

Mar. 31, 2023

Income Taxes

Income Taxes

NOTE 13 Income Taxes

The components of income tax expense (benefit) for the three months ended March 31, 2023 and 2022 were as follows:

	Three months ended March 31,
	2023				2022
			Percent of				Percent of
(dollars in thousands)	Amount		Pretax Income		Amount		Pretax Income
Taxes at statutory federal income tax rate	$	2,203	21.0	%	$	2,745	21.0	%
Tax effect of:
Tax exempt income		(144)	(1.4)	%		(117)	(0.9)	%
State income taxes, net of federal benefits		461	4.4	%		579	4.4	%
Nondeductible items and other		(214)	(2.0)	%		(319)	(2.4)	%
Applicable income taxes	$	2,306	22.0	%	$	2,888	22.1	%

It is the opinion of management that the Company has no significant uncertain tax positions that would be subject to change upon examination.