v3.26.1
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2025
INCOME TAXES  
Summary of income taxes paid

(Dollars in thousands)

  ​ ​ ​

2025

2024

Federal

$

875

$

50

States (a)

 

8

 

$

883

$

50

(a)The amount of state income taxes paid during the year does not meet the 5% disaggregation threshold.
Schedule of current and deferred components of the income tax (benefit) expense

(Dollars in thousands)

  ​ ​ ​

2025

  ​ ​ ​

2024

Current tax expense:

 

  ​

 

  ​

Federal

$

597

$

18

State

 

10

 

Total

607

18

Deferred tax benefit:

Federal

(327)

$

(63)

State

 

(67)

 

Total

(394)

(63)

Net provision for income tax expense (benefit) from continuing operations

$

213

$

(45)

Schedule of reconciliation between the income tax (benefit) expense and the amount of income taxes

2025

(Dollars in thousands)

  ​ ​ ​

Amount

  ​ ​ ​

Rate

  ​ ​ ​

Tax computed at the statutory federal rate

$

1,337

 

21.0

%  

State income taxes, net of federal benefit (a)

 

(45)

 

(0.7)

Tax credits:

Low income housing tax credits

 

(840)

 

(13.2)

Nontaxable or nondeductible items:

 

Tax-exempt income

(44)

(0.7)

Bank owned life insurance income

(193)

(3.0)

Other

 

12

 

0.2

Other adjustments

(14)

 

(0.2)

Provision for income taxes

$

213

3.4

%  

(a) State taxes in Pennsylvania make up the majority (greater than 50%) of the tax effect in this category.

2024

(Dollars in thousands)

  ​ ​ ​

Amount

  ​ ​ ​

Rate

  ​ ​ ​

Federal income tax at statutory rate

$

(2,782)

 

(21.0)

%

Tax-exempt income

 

(20)

 

(0.2)

Low-income housing credits

 

(875)

 

(6.6)

Bank owned life insurance income

(140)

(1.1)

Goodwill impairment

3,761

28.4

Prior year tax adjustments

 

6

 

0.1

Other

5

 

0.1

Income tax (benefit) expense and rate

$

(45)

(0.3)

%  

Schedule of components of the net deferred tax asset

(Dollars in thousands)

  ​ ​ ​

2025

  ​ ​ ​

2024

Deferred Tax Assets:

 

  ​

 

  ​

Net unrealized losses on debt securities available-for-sale and derivatives

$

5,196

$

6,852

Allowance for credit losses

1,984

1,617

Provision for unfunded commitments

 

19

 

21

Deferred compensation

 

150

 

179

Lease liabilities

 

399

 

405

Limited partnership investments

404

538

Deferred health insurance

65

55

Net operating loss carry forwards

279

367

Other

 

10

 

9

Total

 

8,506

10,043

Valuation allowance

 

(232)

(367)

Total, net of valuation allowance

 

8,274

9,676

Deferred Tax Liabilities:

Loan fees and costs

 

194

255

Net unrealized gains on marketable equity securities

301

255

Right of use assets

 

280

296

Depreciation

 

602

649

Accretion

 

411

491

Other

 

23

5

Total

1,811

1,951

Net Deferred Tax Asset

$

6,463

$

7,725