Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Federal Income Taxes [Abstract]

Schedule Of Deferred Tax Assets And Liabilities

(Dollars in thousands)
Deferred Tax Assets	2020		2019
Allowance for loan losses	$	3,561	$	2,532
Deferred compensation		761		762
Purchase accounting		17		16
Other than temporary impairment of investments		58		58
Lease liabilities		1,131		1,092
Accumulated other comprehensive loss		—		1,591
Other		581		580
		6,109		6,631
Valuation allowance		(58)		(58)
Total gross deferred tax assets		6,051		6,573
Deferred Tax Liabilities
Depreciation		464		309
Right-of-use asset		1,118		1,084
Joint ventures and partnerships		55		46
Pension		1,163		1,093
Accumulated other comprehensive gain		848		—
Deferred loan fees and costs, net		2		38
Total gross deferred tax liabilities		3,650		2,570
Net deferred tax asset	$	2,401	$	4,003

Schedule Of Components Of Income Tax Expense (Benefit)

	For the Years Ended December 31
(Dollars in thousands)	2020		2019
Current tax expense (benefit)	$	2,210	$	996
Tax benefit NOL carryback		(1,113)		—
Deferred tax (benefit) expense		(839)		1,884
Income tax provision	$	258	$	2,880

Schedule Of Effective Income Tax Rate Reconciliation

	For the Years Ended December 31
(Dollars in thousands)	2020		2019
Tax provision at statutory rate	$	2,747	$	3,992
Income on tax-exempt loans and securities		(1,144)		(1,134)
Tax benefit NOL carryback		(1,113)		—
Nondeductible interest expense relating to carrying tax-exempt obligations		43		45
Income from bank owned life insurance		(269)		(148)
Stock option compensation		—		—
Other, net		(6)		125
Income tax provision	$	258	$	2,880
Effective income tax rate		2.0%		15.2%