Annual report pursuant to Section 13 and 15(d)

INCOME TAXES - Deferred income tax liabilities and assets (Details)

v3.22.0.1
INCOME TAXES - Deferred income tax liabilities and assets (Details) - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Deferred Tax Assets attributable to:    
Allowance for Credit Losses $ 5,308,000 $ 6,037,000
Accrued Pension/SERP 4,468,000 16,052,000
State Net Operating Loss and Tax Credit Carry-Forwards 1,984,000 2,335,000
Other Real Estate Owned 1,029,000 1,066,000
Accrued SERP Liability 2,442,000 2,104,000
Lease Liability 2,597,000 2,581,000
Net Unrealized Losses on Investment Securities 1,532,000 0
Other 2,325,000 2,637,000
Total Deferred Tax Assets 21,685,000 32,812,000
Deferred Tax Liabilities attributable to:    
Depreciation on Premises and Equipment 3,208,000 4,408,000
Deferred Loan Fees and Costs 2,016,000 2,824,000
Intangible Assets 3,276,000 3,290,000
Accrued Pension Liability 2,138,000 4,723,000
Right of Use Asset 2,453,000 2,411,000
Investments 469,000 469,000
Other 857,000 1,165,000
Total Deferred Tax Liabilities 14,417,000 19,290,000
Valuation Allowance 1,648,000 1,640,000
Net Deferred Tax Assets $ 5,620,000 $ 11,882,000