Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Tax

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

	2021		2020			2019
Current	$	5,111	$	6,947		$	4,713
State		587		270			307
Deferred		1,319		(2,277	)		663
Income taxes	$	7,017	$	4,940		$	5,683

Effective Tax Rates Differed from Statutory Federal Income Tax Rate

Effective tax rates differed from the statutory federal income tax rate of 21% in 2021, 2020 and 2019 due to the following:

	2021			2020			2019
Income taxes computed at the statutory federal tax rate	$	9,988		$	7,798		$	8,308
Add (subtract) tax effect of:
Nontaxable interest income, net of nondeductible interest expense		(1,315	)		(1,293	)		(1,194	)
Low income housing tax credit		(1,402	)		(1,186	)		(903	)
Cash surrender value of BOLI		(252	)		(205	)		(211	)
Change in tax position BOLI		—			—			(353	)
Other		(2	)		(174	)		36
Income tax expense	$	7,017		$	4,940		$	5,683

Summary of Deferred Tax Assets and Liabilities

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

	2021			2020
Deferred tax assets
Allowance for loan losses	$	5,595		$	5,256
Deferred compensation		1,213			1,201
Pension costs		56			304
Intangible assets		231			312
Net operating loss carryforward		—			509
Deferred loan fees		614			1,260
Other		713			745
Deferred tax asset		8,422			9,587
Deferred tax liabilities
Tax depreciation in excess of book depreciation		(973	)		(851	)
Discount accretion on securities		(86	)		(10	)
FHLB stock dividends		(969	)		(969	)
Unrealized gain on securities available for sale		(3,806	)		(5,606	)
Prepaids		(276	)		(325	)
Other		(1,243	)		(979	)
Deferred tax liability		(7,353	)		(8,740	)
Net deferred tax asset	$	1,069		$	847