Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025


	Year Ended December 31,
($ in thousands)	2025	2024
Current tax expense (benefit):
Federal	$ 2,279	$ 1,957
State	-	(6)
Total current tax expense	$ 2,279	$ 1,951
Deferred tax expense (benefit):
Federal	(282)	(106)
State	126	134
Total deferred tax (benefit) expense	(156)	28
Total income tax expense	$ 2,123	$ 1,979


	Year Ended December 31,
	2025		2024
($ in thousands)	Amount	Percent	Amount	Percent
Tax at federal statutory rate	$ 2,340	21%	$ 2,084	21%
State income taxes, net of federal tax effect (1)	100	0.9	101	1.0
Nontaxable or nondeductible items
Appreciation in cash surrender value of life insurance	(162)	(1.5)	(151)	(1.5)
Tax-exempt interest income	(109)	(1.0)	(113)	(1.1)
Other	(46)	(0.4)	58	0.6
Income tax expense	$ 2,123	19.0%	$ 1,979	19.9%

(1)The State of Virginia made up the majority of the tax effect in this category.


($ in thousands)	2025	2024
Deferred tax assets
Lease liabilities	$ 703	$ 825
Allowance for credit losses	1,355	1,479
Unfunded commitment liability	141	114
Unrealized losses on available-for-sale securities	3,971	6,091
Non-accrual interest	120	36
Net operating losses	207	283
Deferred compensation	1,311	1,117
Other	26	-
Gross deferred tax assets	$ 7,834	$ 9,945

Deferred tax liabilities
Right-of-use assets	613	729
Depreciation	140	173
Intangibles	141	86
Other	50	103
Gross deferred tax liabilities	944	1,091
Net deferred tax asset	$ 6,890	$ 8,854