Note 13 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

(Dollars in thousands)	2023			2022
Current:
Federal	$	2,143			2,123
State		815			1,000
Total current		2,958			3,123
Deferred:
Federal		(81	)		2
State		(329	)		101
Total deferred		(410	)		103
Income tax expense	$	2,548			3,226

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

(Dollars in thousands)	2023		2022
Expected federal income tax expense	$	1,796		2,367
Items affecting federal income tax:
State income taxes, net of federal income tax deduction		557		899
Other, net		195		(40	)
Income tax expense	$	2,548		3,226

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

(Dollars in thousands)	2023			2022
Deferred tax assets:
Allowances for credit losses	$	3,337			2,899
Deferred compensation costs		144			120
Deferred ESOP loan asset		315			361
Non-accruing loan interest		163			179
Net unrealized loss on securities available for sale		5,149			6,539
State net operating loss carry-forward		39			0
Other		101			110
Total gross deferred tax assets		9,248			10,208
Valuation allowance		(283	)		0
Deferred tax assets, net of valuation allowance		8,965			10,208
Deferred tax liabilities:
Deferred loan costs		241			243
Premises and equipment basis difference		570			618
Originated mortgage servicing rights		764			843
Other		219			157
Total gross deferred tax liabilities		1,794			1,861
Net deferred tax assets	$	7,171			8,347