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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Taxes [Abstract]  
Components of Income Tax Expense
2022
2021
Current:
Federal
$
-
$
-
State
-
$
-
Total
 
current
-
$
-
Deferred:
Federal
5,462
$
5,314
State
1,482
$
1,286
Total
 
deferred
6,944
$
6,600
Total
 
tax expense
$
6,944
$
6,600
Statutory Tax Expense
2022
2021
Federal taxes at statutory rate
$
5,688
$
5,812
State income taxes, net of federal tax benefit
1,177
$
969
Bank owned life insurance
(269)
$
(186)
Other, net
348
$
5
Total
 
tax expense
$
6,944
$
6,600
Provision for Income Taxes
2022
2021
Deferred tax assets:
Net operating loss
$
21,720
$
28,819
Allowance for credit losses
4,432
3,816
Lease liability
3,648
3,595
Unrealized loss on available for sale securities
15,193
817
Deferred loan fees
-
400
Depreciable property
158
361
Stock option compensation
373
241
Accruals
723
600
Other, net
-
2
Deferred tax asset
$
46,247
$
38,651
Deferred tax liability:
Deferred loan cost
(28)
-
Lease right of use asset
(3,648)
(3,595)
Deferred expenses
(175)
(127)
Other, net
(36)
-
Deferred tax liability
$
(3,887)
$
(3,722)
Net deferred tax asset
$
42,360
$
34,929