XML 44 R42.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 10 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2014
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

December 31, (In thousands)

 

2014

   

2013

   

2012

 

Currently payable

  $ 2,168     $ 4,908     $ 3,953  

Deferred

    3,931       (473 )     (1,043 )

Total applicable to operations

    6,099       4,435       2,910  

Deferred tax (credited) charged to components of shareholders’ equity:

                       

Unfunded status of postretirement benefits

    (382 )     1,589       (92 )

Net unrealized securities gains (losses)

    4,737       (7,019 )     214  

Total income taxes

  $ 10,454     $ (995 )   $ 3,032  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

December 31,

 

2014

   

2013

   

2012

 

Federal statutory rate

    35.0 %     35.0 %     35.0 %

Changes from statutory rates resulting from:

                       

Tax-exempt interest

    (5.2 )     (6.3 )     (7.6 )

Nondeductible interest to carry tax-exempt obligations

    .2       .3       .4  

Nondeductible legal expense

    -       -       .5  

Tax credits

    -       -       (1.8 )

Premium income not subject to tax

    (1.2 )     (1.3 )     (2.5 )

Company-owned life insurance

    (1.9 )     (1.8 )     (3.5 )

Uncertain tax position

    (.3 )     (.5 )     (.9 )

Other, net

    .4       (.6 )     (.3 )

Effective tax rate on pretax income

    27.0 %     24.8 %     19.3 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

December 31, (In thousands)

 

2014

   

2013

 

Assets

               

Allowance for loan losses

  $ 4,904     $ 7,217  

Deferred directors’ fees

    253       285  

Postretirement benefit obligations

    5,164       4,459  

Other real estate owned

    2,418       3,568  

Partnership investments

    372       1,508  

Self-funded insurance

    214       213  

Paid time off

    723       701  

Depreciation

    1,163       798  

Intangibles

    2,813       3,179  

Unrealized losses on available for sale investment securities, net

    -       1,951  

Other

    399       232  

Total deferred tax assets

    18,423       24,111  

Liabilities

               

Unrealized gains on available for sale investment securities, net

    2,786       -  

Prepaid expenses

    459       596  

Federal Home Loan Bank stock dividends

    1,087       1,097  

Deferred loan fees

    816       772  

Lease financing operations

    51       136  

Total deferred tax liabilities

    5,199       2,601  

Net deferred tax asset

  $ 13,224     $ 21,510  
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

(In thousands)

 

2014

   

2013

 

Balance at beginning of year

  $ 66     $ 154  

Reductions to tax positions of prior years

    (66 )     (88 )

Balance at end of year

  $ -     $ 66