NEW INDEPENDENT BANCSHARES, INC. AND SUBSIDIARY Notes to the Consolidated Financial Statements
NOTE 13.
INCOME TAXES
The Company ' s net deferred federal and state tax assets, were as follows at December 31: 2025
2024
Deferred Federal Income Tax Assets Deferred Federal Income Tax Liabilities
Net Deferred Federal Income Tax Assets
Deferred State Tax Assets
Deferred State Tax Liabilities Net Deferred State Tax Assets
Unrealized Loss on Securities AFS |
|
|
Deferred Federal Income Tax Asset |
|
1,870,817 |
Deferred State Income Tax Asset |
|
- |
Total Deferred Tax Assets- AFS Investments |
|
1,870,817 |
Total Deferred Tax Assets $ 3,113,513
The information below relates to temporary federal tax differences that existed as of December 31, 2025 and 2024. It is not expected that a valuation allowance will be needed. An applicable rate of 21 % has been assumed.
Allowance For Credit Losses Reserve for Unfunded Commitments Loan Market Adjustment Premises and Equipment Discount Amortization on Securities Operating Lease Right-of-use Assets Operating Lease Liabilities Core Deposit Intangible Accrued SERP Deferred Directors Fees Deferred Benefits Time Deposit Market Adjustment Contribution Carryover Unrealized Gain / Loss Net Operating Loss State Tax Total
Book Basis
Tax Basis
$ 3,165,633
( 2,274,488) 891,145
597,902( 246,351) 351,551
Temporary Difference 2025
4,368,403 |
- |
( 4,368,403) |
- |
( 917,365) |
( 4,448,553) |
- |
4,448,553 |
- |
934,196 |
1,820,089 |
- |
( 1,820,089) |
- |
( 382,219) |
( 247,786)- 247,786-
$ 1,867,485
( 1,336,670) 530,815
475,700( 189,451) 286,249
2,622,231
643,379 3,265,610
Deferred Tax
$( 6,542,330) |
$ |
- |
$
6,542,330
|
$ |
- |
$
1,373,890
|
( 571,944) |
|
- |
571,944 |
|
- |
120,108 |
( 730,576) |
|
- |
730,576 |
|
- |
153,421 |
10,154,955 13,032
351,551
5,375,671 |
( 4,779,284) |
- |
( 1,003,650) |
- |
( 13,032) |
- |
( 2,737) |
52,035
- 75,231 75,231- 15,799
-( 351,551)
Other Difference
$ 4,082,674
( 564,504) |
- |
564,504 |
- |
118,546 |
( 539,353) |
- |
539,353 |
- |
113,264 |
84,575 |
- |
( 84,575) |
- |
( 17,761) |
11,388-( 11,388)-( 2,391)( 1,951,597)- 1,951,597- 409,835
( 73,826) $ 1,207,350 $ 5,450,902 $ 4,243,552 $- $ 891,145
-
48 | 2025 NWSB Annual Report