v3.26.1
Note 11 - Income Taxes
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

NOTE 11. INCOME TAXES

 

The income tax expense and the effective tax rate included in the consolidated statements of income are shown in the table below for the periods presented (dollars in thousands).

 

  

Three months ended June 30,

  

Six months ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 

Income tax expense

 $2,136  $935  $5,021  $2,356 

Effective tax rate

  18.4%  17.2%  18.9%  17.9%

 

For the three and six months ended June 30, 2026 and 2025, the effective tax rate differed from the statutory tax rate of 21% primarily due to tax-exempt interest income earned on certain loans and investment securities and income from BOLI.