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INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of pre-tax book income

 Schedule of pre-tax book income

(Dollars are in thousands) 2023   2022
Current income tax expense $ 2,139 $ 1,759
Deferred tax expense 8 540
Income tax expense $ 2,147 $ 2,299
Schedule of reconciliation of income tax expense

 Schedule of reconciliation of income tax expense

(Dollars are in thousands)  2023  2022
       
Income tax expense at the applicable federal rate  $2,152   $2,180 
Permanent differences resulting from:          
     Nondeductible expenses   12    9 
     Tax exempt interest income   (2)   (3)
     Bank owned life insurance   (9)   29 
Other adjustments   (6)   84 
Income tax expense  $2,147   $2,299 
Schedule of net deferred tax assets and liabilities

 Schedule of net deferred tax assets and liabilities

(Dollars are in thousands)  2023  2022
Deferred tax assets          
     Allowance for credit losses  $1,696   $1,498 
     Deferred compensation   75    80 
     Unrealized loss on securities available for sale   3,098    3,706 
     Other real estate owned   15    48 
     Self-insured health insurance   267    250 
     Lease Liability   866    829 
     Other   355    351 
Total assets, gross   6,372    6,762 

 

Deferred tax liabilities          
     Depreciation   565    874 
     Prepaid expenses   30    18 
     Deferred loan costs   450    418 
     Right-of-use asset   866    829 
Total liabilities, gross   1,911    2,139 
Net deferred tax asset  $4,461   $4,623