Note 9 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

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

Years Ended December 31, (in thousands)	2019			2018			2017
Current income tax expense:
Federal	$	14,673		$	11,567		$	12,622
State		772			732			546
Total current income tax expense		15,445			12,299			13,168
Deferred income tax expense (benefit) :
Federal		(746	)		(52	)		3,783
State		(2,872	)		(289	)		(4	)
Total deferred income tax expense (benefit)		(3,618	)		(341	)		3,779
Change in valuation allowance		(2,234	)		73			192
Total income tax expense	$	9,593		$	12,031		$	17,139

Schedule of Income Tax Expense Benefit, Recorded Directly to Stockholders Equity [Table Text Block]

Years Ended December 31, (in thousands)	2019			2018			2017
Unrealized (loss) gain on securities available for sale	$	1,757		$	(812	)	$	(531	)
Reclassification adjustment for securities losses realized in income		—			—			81
Unrealized gain on derivatives		(120	)		46			112
Minimum pension liability adjustment		(58	)		46			(9	)
Total income tax (benefit) expense recorded directly to stockholders' equity	$	1,579		$	(720	)	$	(347	)

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

Years Ended December 31,	2019			2018			2017
U.S. federal statutory income tax rate		21.0	%		21.0	%		35.0	%
Kentucky state income tax enactments		(5.2	)		—			—
Net deferred tax asset remeasurement		—			(0.5	)		10.8
Excess tax benefits from stock-based compensation arrangements		(1.0	)		(0.8	)		(2.6	)
Increase in cash surrender value of life insurance		(0.9	)		(0.4	)		(1.5	)
Tax credits		(1.9	)		(1.8	)		(14.4	)
Tax exempt interest income		(0.3	)		(0.4	)		(1.2	)
Amortization/impairment of investments in tax credit partnerships		0.3			0.4			3.4
State income taxes, net of federal benefit		0.7			0.8			0.7
Other, net		—			(0.5	)		0.9
Effective tax rate		12.7	%		17.8	%		31.1	%

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

December 31, (in thousands)	2019			2018
Deferred tax assets
Allowance for loan loss	$	6,633		$	5,567
Deferred compensation		5,758			4,703
Operating lease liability		3,427			—
State net operating loss		2,550			2,201
Accrued expenses		1,486			968
Securities		—			756
Investments in tax credit partnerships		655			543
Loans		501			434
Other assets		228			181
Write-downs and costs associated with other real estate owned		22			7
Total deferred tax assets		21,260			15,360
Deferred tax liabilities
Property and equipment		1,054			1,154
Right-of-use operating lease asset		3,154			—
Securities		748			—
Loan costs		767			632
Mortgage servicing rights		299			193
Leases		266			336
Core deposit intangible		202			230
Other liabilities		183			267
Total deferred tax liabilities		6,673			2,812
Valuation allowance		(121	)		(2,355	)
Net deferred tax asset	$	14,466		$	10,193