Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	At December 31,
	2021			2020
	(In thousands)
Deferred tax asset
Allowance for credit losses	$	6,852		$	6,789
State franchise taxes		2,518			2,262
Deferred compensation		4,524			4,789
Purchased assets and assumed liabilities		475			552
Post-retirement benefits		445			480
Employee benefit accruals		2,792			2,353
VISA Class B shares		348			284
Limited partnership investments		-			1,066
Impaired capital assets		2,673			2,429
Accrued liabilities		748			416
Premises and equipment		1,001			585
Lease liability		5,263			5,513
Other		103			800
Sub total deferred tax asset		27,742			28,318
Tax valuation		(1,776	)		-
Total deferred tax asset		25,966			28,318
Deferred tax liability
Net deferred loan fees		196			106
Securities available for sale		20,845			48,021
Right-of-use asset		5,263			5,513
Intangible assets		459			456
Limited partnership investments		1,704			-
Total deferred tax liability		28,467			54,096
Net deferred tax liability	$	(2,501	)	$	(25,778	)

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	For the Years Ended December 31,
	2021			2020			2019
	(In thousands)
Current income tax expense:
Federal	$	15,299		$	15,982		$	11,570
State		11,320			10,654			9,595
Total current		26,619			26,636			21,165
Deferred income tax expense (benefit):
Federal		1,281			(538	)		2,411
State		842			292			982
Total deferred		2,123			(246	)		3,393
Change in valuation reserve:
Federal		(472	)		-			(71	)
State		2,248			-			340
Total change in valuation reserve		1,776			-			269
Provision for income taxes	$	30,518		$	26,390		$	24,827

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	For the Years Ended December 31,
	2021			2020			2019
	(In thousands)
Federal income taxes due at statutory rate	$	24,576		$	22,429		$	22,095
Additions (reductions) in income taxes resulting from:
Interest on state and municipal securities and loans not taxable for federal income tax purposes		(2,070	)		(2,808	)		(3,584	)
State franchise taxes, net of federal income tax benefit		9,757			8,647			8,625
Change in valuation reserve		1,776			-			269
Stock compensation deduction in excess of book expense		-			(62	)		(312	)
Tax credits		(2,621	)		(1,061	)		(1,040	)
Dividend received deduction		(48	)		(44	)		(38	)
Cash value life insurance		(389	)		(383	)		(464	)
Other		(463	)		(328	)		(724	)
Provision for income taxes	$	30,518		$	26,390		$	24,827