Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Tax

Income taxes were as follows for the years ended December 31:

	2022		2021		2020
Current	$	6,973	$	5,111	$	6,947
State		152		587		270
Deferred		483		1,319		(2,277	)
Income taxes	$	7,608	$	7,017	$	4,940

Effective Tax Rates Differed from Statutory Federal Income Tax Rate

Effective tax rates differed from the statutory federal income tax rate of 21% in 2022, 2021 and 2020 due to the following:

	2022			2021			2020
Income taxes computed at the statutory federal tax    rate	$	9,878		$	9,988		$	7,798
Add (subtract) tax effect of:
Nontaxable interest income, net of nondeductible    interest expense		(1,666	)		(1,315	)		(1,293	)
Low income housing tax credit		(679	)		(1,402	)		(1,186	)
Cash surrender value of BOLI		(207	)		(252	)		(205	)
Other		282			(2	)		(174	)
Income tax expense	$	7,608		$	7,017		$	4,940

Summary of Deferred Tax Assets and Liabilities

Year-end deferred tax assets and liabilities were due to the following:

	2022			2021
Deferred tax assets
Allowance for loan losses	$	6,106		$	5,595
Deferred compensation		1,143			1,213
Pension costs		—			56
Intangible assets		154			231
Net operating loss carryforward		699			—
Deferred loan fees		347			614
Unrealized gain on securities available for sale		14,218			—
Unrealized gain on securities purchased		1,966			258
Other		295			455
Deferred tax asset		24,928			8,422
Deferred tax liabilities
Tax depreciation in excess of book depreciation		(2,124	)		(973	)
Discount accretion on securities		(244	)		(86	)
FHLB stock dividends		(822	)		(969	)
Purchase accounting adjustments		(2,220	)		—
Unrealized gain on securities available for sale		—			(3,806	)
Prepaids		(334	)		(276	)
Other		(735	)		(1,243	)
Deferred tax liability		(6,479	)		(7,353	)
Net deferred tax asset	$	18,449		$	1,069