Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax

Income taxes were as follows for the years ended December 31:

	2024			2023			2022
Current - federal	$	6,498		$	8,256		$	6,973
Current - state		246			68			152
Deferred		(1,853	)		(675	)		483
Income taxes	$	4,891		$	7,649		$	7,608

Effective Tax Rates Differed from Statutory Federal Income Tax Rate

Effective tax rates differed from the statutory federal income tax rate of 21% in 2024, 2023 and 2022 due to the following:

	2024			2023			2022
Income taxes computed at the statutory federal tax    rate	$	7,681		$	10,629		$	9,878
Add (subtract) tax effect of:
Tax-exempt interest income, net		(1,975	)		(1,938	)		(1,666	)
Low income housing investments		(555	)		(620	)		(679	)
Cash surrender value of BOLI		(471	)		(233	)		(207	)
Other		211			(189	)		282
Income tax expense	$	4,891		$	7,649		$	7,608

Summary of Deferred Tax Assets and Liabilities

Year-end deferred tax assets and liabilities were due to the following:

	2024			2023
Deferred tax assets
Allowance for credit losses	$	8,554		$	7,711
Unrealized loss on securities available for sale		13,104			11,633
Unrealized loss on minimum pension liability		1,198			1,198
Deferred compensation		1,241			1,155
Unfunded commitment liability		733			819
Deferred loan fees, net		583			576
Purchase accounting adjustments		524			135
Accrued compensation		674			368
Lease liability		231			343
Other		74			287
Deferred tax asset		26,916			24,225
Deferred tax liabilities
Fixed assets depreciation		(1,968	)		(2,198	)
Prepaid pension		(1,602	)		(1,343	)
Loan servicing rights		(624	)		(634	)
Discount accretion on securities		(244	)		(502	)
FHLB stock dividends		(126	)		(223	)
Right of use asset		(231	)		(343	)
Prepaids		(297	)		(314	)
Other		(143	)		(311	)
Deferred tax liability		(5,235	)		(5,868	)
Net deferred tax asset	$	21,681		$	18,357