Deferred Income Taxes (Notes)

3 Months Ended

Mar. 31, 2022

Components of Deferred Tax Assets and Liabilities [Abstract]

Deferred Income Taxes [Text Block]

Income Taxes

Net deferred tax assets consisted of the following as of March 31, 2022 and December 31, 2021.  

	March 31, 2022		December 31, 2021
Deferred tax assets:
Allowance for loan losses	$	6,988	$	7,176
Net unrealized losses on securities available for sale	15,514		1,701
Net unrealized losses on interest rate swaps	—		1,903
Lease liabilities	1,423		1,502
Accrued expenses	235		395
Restricted stock unit compensation	465		821
State net operating loss carryforward	1,296		1,276
Other	151		139
	26,072		14,913
Deferred tax liabilities:
Right-of-use assets	1,372		1,450
Net deferred loan fees and costs	250		247
Net unrealized gains on interest rate swaps	1,027		—
Premises and equipment	926		809
Other	324		312
	3,899		2,818
Net deferred tax assets before valuation allowance	22,173		12,095
Valuation allowance	(1,296)		(1,276)
Net deferred tax assets	$	20,877	$	10,819

The Company has recorded a valuation allowance against the tax effect of the state net operating loss carryforwards, as management believes it is more likely than not that these carryforwards will expire without being utilized. The state net operating loss carryforwards expire in 2022 and thereafter.