Note 5 - Income Taxes (Tables)

9 Months Ended

Sep. 30, 2017

Notes Tables

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

	Three months ended						Nine months ended
	September 30,						September 30,
(in thousands)	2017			2016			2017			2016
Current income tax expense
Federal	$	5,211		$	4,363		$	12,936		$	10,958
State		179			287			472			597
Total current income tax expense		5,390			4,650			13,408			11,555
Deferred income tax (benefit) expense
Federal		(1,583	)		(692	)		(2,240	)		(302	)
State		(44	)		(75	)		(30	)		(18	)
Total deferred income tax expense (benefit)		(1,627	)		(767	)		(2,270	)		(320	)
Change in valuation allowance		333			-			459			-
Total income tax expense	$	4,096		$	3,883		$	11,597		$	11,235

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

	Nine months ended September 30,
	2017			2016
U.S. federal statutory income tax rate		35.0	%		35.0	%
Tax credits		(4.6	)		(9.4	)
Excess tax benefits from share-based compensation arrangements		(3.0	)		-
Increase in cash surrender value of life insurance		(1.4	)		(0.9	)
Tax exempt interest income		(1.1	)		(1.3	)
State income taxes, net of federal benefit		0.7			0.9
Other, net		0.3			2.7
Effective income tax rate		25.9	%		27.0	%