XML 58 R42.htm IDEA: XBRL DOCUMENT v3.3.1.900
Note 8 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

(In thousands)

 

2015

   

2014

   

2013

 

Current tax expense

                       

Federal

  $ 15,478     $ 14,958     $ 10,322  

State

    608       641       336  

Total current tax expense

    16,086       15,599       10,658  
                         

Deferred tax expense (benefit)

                       

Federal

    748       (385 )     450  

State

    54       26       120  

Total deferred tax expense (benefit)

    802       (359 )     570  

Change in valuation allowance

    45       41       -  

Total income tax expense

  $ 16,933     $ 15,281     $ 11,228  
Schedule of Income Tax Expense (Benefit) Recorded Directly to Stockholders' Equity [Table Text Block]

(In thousands)

 

2015

   

2014

   

2013

 

Unrealized (loss) gain on securities available for sale

  $ (839 )   $ 2,383     $ (4,234 )

Reclassification adjustment for securities losses realized in income

    -       3       2  

Reclassification adjustment for  securities impairment realized in income

    36       -       -  

Unrealized (loss) gain on derivatives

    (41 )     -       8  

Compensation expense for tax purposes in excess of amounts recognized for financial reporting purposes

    (673 )     (378 )     (265 )

Minimum pension liability adjustment

    61       (69 )     111  

Total income tax (benefit) expense recorded directly to stockholders' equity

  $ (1,456 )   $ 1,939     $ (4,378 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
   

2015

   

2014

   

2013

 

U.S. federal income tax rate

    35.0

%

    35.0

%

    35.0

%

Tax exempt interest income

    (1.4 )     (1.5 )     (2.1 )

Tax credits

    (2.5 )     (3.1 )     (2.5 )

Cash surrender value of life insurance

    (0.8 )     (1.4 )     (2.0 )

State income taxes

    0.8       0.9       0.8  

Nontaxable gain on acquisition

    -       -       (0.4 )

Nondeductible acquisition costs

    -       -       0.2  

Other, net

    0.2       0.6       0.2  
      31.3

%

    30.5

%

    29.2

%

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

December 31,

 

(In thousands)

 

2015

   

2014

 

Allowance for loan loss

  $ 8,029     $ 8,929  

Deferred compensation

    5,730       5,442  

Accrued expenses

    1,515       1,854  

Investments in partnerships

    1,177       1,031  

Write-downs and costs associated with other real estate owned

    435       491  

Loans

    659       678  

Other-than-temporary impairment

    347       310  

Other assets

    187       219  

Total deferred tax assets

    18,079       18,954  
                 

Securities

    1,655       2,594  

Property and equipment

    1,158       1,250  

Loan costs

    843       756  

Prepayment penalty on modification of FHLB advances

    -       76  

Mortgage servicing rights

    315       356  

Leases

    611       422  

Core deposit intangible

    573       652  

Other liabilities

    473       430  

Total deferred tax liabilities

    5,628       6,536  

Valuation allowance

    86       41  

Net deferred tax asset

  $ 12,365     $ 12,377  
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

(In thousands)

 

2015

   

2014

 

Balance as of January 1

  $ 40     $ 40  

Increases - current year tax positions

    11       11  

Increases - prior year tax positions

    -       -  

Settlements

    -       -  

Lapse of statute of limitations

    (11 )     (11 )

Balance as of December 31

  $ 40     $ 40