Federal Income Taxes

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Federal Income Taxes

Federal Income TaxesThe reconciliation of the provision for federal income taxes and the amount computed at the federal statutory tax rate of 21% of income before federal income tax expense is as follows for the:

	Three Months Ended   September 30				Nine Months Ended   September 30
	2023		2022		2023		2022
Income taxes at statutory rate	$	1,124	$	1,496	$	3,634	$	4,025
Effect of nontaxable income
Interest income on tax exempt municipal securities	(131)		(147)		(415)		(425)
Earnings on corporate owned life insurance policies	(48)		(47)		(143)		(150)
Other	(6)		(4)		(18)		(12)
Total effect of nontaxable income	(185)		(198)		(576)		(587)
Effect of nondeductible expenses	14		9		33		26
Effect of tax credits	(69)		(74)		(205)		(215)
Unrecognized deferred tax benefit	53		—		53		—
Federal income tax expense	$	937	$	1,233	$	2,939	$	3,249