v3.26.1
Income Tax (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income Tax Expense from Continuing Operations
Pretax income from continuing operations is as follows:
Year Ended
December 31, 2025
Domestic$13,653 
Foreign— 
Total$13,653 

Income tax expense from continuing operations are as follows:
20252024
Income tax expense (benefit)
Currently payable
Federal$2,178 $1,328 
State(1)
12 — 
Deferred
Federal(215)250 
State(1)
101 (92)
Total income tax expense$2,076 $1,486 
(1) State taxes in Indiana make up the majority (greater than 50%) of the State taxes, net of federal benefit for 2025.
Schedule of Deferred Tax Assets and Liabilities
A cumulative deferred tax asset is included in other assets. The components of the asset are as follows:
 20252024
Assets
Allowance for credit losses$3,880 $3,816 
Net operating loss carryforward204 254 
Nonaccrual interest29 28 
Investment basis
Deferred compensation805 684 
Stock compensation327 431 
ESOP364 328 
Unrealized loss on securities available for sale9,186 12,176 
Charitable contributions— 
Other300 255 
Total assets15,099 17,980 
Liabilities
FHLB stock dividend164 166 
Fixed assets108 
Mortgage-servicing rights435 455 
Prepaid assets475 507 
Other33 92 
Total liabilities1,215 1,221 
Net deferred tax asset$13,884 $16,759 
Schedule of Effective Income Tax Rate Reconciliation
Effective tax rates differ from the federal statutory rate of 21% for the year ended December 31, 2025 due to the following, in accordance with ASU 2023-09 (See Note 2 for additional details on ASU 2023-09 adoption):
2025
AmountPercent
Income before income taxes$13,653 
Federal statutory income tax2,867 21.0 %
State taxes, net of federal benefit(1)
111 0.8 %
Tax credits:
Low-income housing tax credit (net of amortization)(30)(0.2)%
Nontaxable or nondeductible items:
Tax-exempt interest(637)(4.7)%
ESOP— %
Cash surrender value - life insurance(20)(0.1)%
Small insurance captive premiums(165)(1.2)%
Stock compensation(54)(0.4)%
Other— %
Income tax expense and effective tax rate$2,076 15.2 %
(1) State taxes in Indiana make up the majority (greater than 50%) of the State taxes, net of federal benefit for 2025.
Effective tax rates differ from the federal statutory rate of 21% for the year ended December 31, 2024 due to the following, prior to the adoption of ASU 2023-09:

Reconciliation of federal statutory to actual tax expense2024
Federal statutory income tax at 21%$2,281 
Tax-exempt interest(672)
Effect of state income taxes(92)
ESOP(92)
Cash surrender value - life insurance(19)
Low income housing tax credit(30)
Small insurance captive premiums(183)
Stock compensation11 
Carryforward attribute expiration407 
Other(125)
Actual tax expense$1,486 
Schedule of Income Taxes Paid (Net of Refunds)
Income taxes paid (net of refunds) is as follows:
Year Ended
December 31, 2025
Cash paid for taxes (net of refund received) - Federal$1,338 
Cash paid for taxes (net of refund received) - State— 
Other
Total$1,340