Note 17 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

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

	December 31,
	2022			2021			2020
Current federal income tax expense	$	9,075		$	2,315		$	4,805
Current state income tax expense		219			141			33
Deferred federal income tax expense		(655	)		(547	)		(1,388	)
Total income tax expense	$	8,639		$	1,909		$	3,450

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

	December 31,
	2022			2021			2020
Tax based on statutory rate	$	9,313		$	2,081		$	3,641
(Decrease) increase resulting from:
Effect of tax-exempt income		(873	)		(348	)		(299	)
Acquisition costs		—			72			—
Historical tax credits		—			(54	)		29
State taxes		219			141			33
Other		(20	)		17			46
Total income tax expense	$	8,639		$	1,909		$	3,450
Effective rate		19.5	%		19.3	%		19.9	%

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

	December 31,
	2022			2021
Deferred tax liabilities:
Depreciation	$	(3,441	)	$	(4,024	)
FHLB stock dividend		(103	)		(71	)
Unrealized gain on available for sale securities		—			(309	)
Basis difference in acquired assets and liabilities		(1,129	)		(1,233	)
Operating lease right-of-use asset		(598	)		(704	)
Other		(46	)		(167	)
Gross deferred tax liability		(5,317	)		(6,508	)
Deferred tax assets:
Allowance for loan losses		5,180			4,502
Unrealized loss on available for sale securities		13,235			—
Net operating loss carryforward		193			316
Deferred compensation		1,099			903
Basis difference in acquired assets and liabilities		440			709
Employee and director stock awards		576			553
Operating lease liability		619			725
Unearned loan fees		269			379
Employee Retention Credit		—			498
Other		144			162
Gross deferred tax asset		21,755			8,747
Net deferred tax asset	$	16,438		$	2,239