Annual report pursuant to Section 13 and 15(d)

Note 9 - Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Details)

v3.24.1
Note 9 - Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Allowance for credit losses $ 339 $ 178
Deferred compensation 556 481
Retirement plans 181 55
Premises held for sale impairment 101 101
Unrealized loss on securities available-for-sale 3,279 4,435
Federal net operating loss carryforwards 1,042 358
Other 15 38
State net operating loss carryforwards 532 371
Gross deferred tax assets 6,045 6,017
Valuation allowance (2,661) (521)
Net deferred tax assets 3,384 5,496
FHLB stock dividends (101) (101)
Accumulated depreciation (4) (80)
Deferred tax liabilities (105) (181)
Net deferred tax asset $ 3,279 $ 5,315