Note 9 - Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Federal Income Tax Note [Table Text Block]

(In Thousands of Dollars)	2012			2011			2010
Current expense	$	4,283		$	3,133		$	1,013
Deferred expense (benefit)		(27	)		(1,299	)		14
Change in deferred tax valuation allowance		0			0			485
Total	$	4,256		$	1,834		$	1,512

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

(In Thousands of Dollars)	2012			2011			2010
Tax at statutory rate	$	5,177		$	2,610		$	1,846
Effect of tax-exempt interest		(479	)		(443	)		(489	)
Deferred tax valuation allowance		0			0			485
Other		(442	)		(333	)		(330	)
Federal income taxes	$	4,256		$	1,834		$	1,512
Effective tax rate		29	%		25	%		29	%

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

(In Thousands of Dollars)
	2012			2011
Deferred tax assets:
Allowance for loan losses	$	7,256		$	7,147
Deferred compensation		655			718
Losses on capital investments		1,159			1,727
Other		1,254			1,304
Total deferred tax assets		10,324			10,896
Deferred tax liabilities:
Fixed assets		(1,821	)		(1,851	)
Mortgage servicing rights		(1,697	)		(1,563	)
Purchase accounting adjustments		(234	)		(373	)
Unrealized gain on securities available for sale		(1,859	)		(1,492	)
Other		(428	)		(992	)
Total deferred tax liabilities		(6,039	)		(6,271	)
Net deferred tax assets		4,285			4,625
Deferred tax valuation allowance		(1,143	)		(1,143	)
Net deferred tax assets	$	3,142		$	3,482