Note 12 - Federal and State Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

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

	2021		2020
	(in thousands)
Deferred tax liabilities:
Property and equipment	$	84,081	$	100,736
Unrealized gains on securities		2,580		2,580
Prepaid expenses and other		2,783		2,599
Total deferred tax liabilities		89,444		105,915
Deferred tax assets:
Current expected credit losses		1,165		896
Tax credit carryforwards		-		988
Compensated absences		185		189
Self-insurance allowances		1,207		674
Marketable equity securities		-		2,129
Net operating loss carryover		-		32,031
Other		172		125
Total deferred tax assets		2,729		37,032
Net deferred tax liability	$	86,715	$	68,883

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

	2021				2020				2019
	(in thousands)
	Amount		Percent		Amount		Percent		Amount			Percent
Federal income tax at statutory rate	$	21,526		21.0	$	4,916		21.0	$	2,124			21.0
Nondeductible per diem and meals		-		-		321		1.4		-			-
Other nondeductible expenses, net		-		-		-		-		342			3.4
State income taxes/other, net		4,463		4.4		345		1.5		(251	)		(2.5	)
Total income tax expense	$	25,989		25.4	$	5,582		23.9	$	2,215			21.9

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

	2021		2020			2019
	(in thousands)
Current:
Federal	$	6,314	$	(62	)	$	(56	)
State		1,843		282			646
Total current income tax provision		8,157		220			590
Deferred:
Federal		13,720		4,860			2,177
State		4,112		502			(552	)
Total deferred income tax provision		17,832		5,362			1,625
Total income tax provision expense		25,989	$	5,582		$	2,215