Note 6 - Income Taxes (Tables)

9 Months Ended

Sep. 30, 2019

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)	2019			2018			2019			2018
Current income tax expense:
Federal	$	4,524		$	3,888		$	11,022		$	9,750
State		224			196			554			506
Total current income tax expense		4,748			4,084			11,576			10,256
Deferred income tax expense (benefit) :
Federal		(768	)		(502	)		21			(456	)
State		(201	)		(27	)		(4,969	)		(34	)
Total deferred income tax expense		(969	)		(529	)		(4,948	)		(490	)
Change in valuation allowance		4			—			24			—
Total income tax expense	$	3,783		$	3,555		$	6,652		$	9,766

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

	Three months ended						Nine months ended
	September 30,						September 30,
	2019			2018			2019			2018
U.S. federal statutory income tax rate		21.0	%		21.0	%		21.0	%		21.0	%
Kentucky state income tax enactments		(0.7	)		—			(6.9	)		—
Excess tax benefits from stock-based compensation arrangements		(1.5	)		—			(1.2	)		(1.0	)
Increase in cash surrender value of life insurance		(0.8	)		(0.7	)		(0.9	)		(0.6	)
Tax credits		(0.5	)		(0.2	)		(0.6	)		(0.4	)
Tax exempt interest income		(0.3	)		(0.4	)		(0.3	)		(0.5	)
State income taxes, net of federal benefit		0.7			0.8			0.7			0.7
Other, net		(0.1	)		(0.1	)		0.1			0.1
Effective income tax rate		17.9	%		20.4	%		11.9	%		19.3	%