XML 49 R38.htm IDEA: XBRL DOCUMENT v3.21.2
Note 7 - Income Taxes (Tables)
9 Months Ended
Sep. 30, 2021
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)

 

2021

  

2020

  

2021

  

2020

 

Current income tax expense:

                

Federal

 $4,730  $3,369  $8,202  $9,574 

State

  642   198   1,188   538 

Total current income tax expense

  5,372   3,567   9,390   10,112 
                 

Deferred income tax expense (benefit):

                

Federal

  858   (1,507)  2,375   (2,653)

State

  672   (476)  1,462   (1,279)

Total deferred income tax expense (benefit)

  1,530   (1,983)  3,837   (3,932)

Change in valuation allowance

  -   7   -   9 

Total income tax expense

 $6,902  $1,591  $13,227  $6,189 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
  

Three months ended

  

Nine months ended

 
  

September 30,

  

September 30,

 
  

2021

  

2020

  

2021

  

2020

 

U.S. federal statutory income tax rate

  21.0

%

  21.0

%

  21.0

%

  21.0

%

State income taxes, net of federal benefit

  3.6   0.6   3.4   0.7 

Excess tax benefit from stock-based compensation arrangements

  (0.1)  (2.6)  (1.7)  (0.9)

Change in cash surrender value of life insurance

  (0.2)  (1.1)  (0.7)  (0.6)

Tax credits

  (0.3)  (5.5)  (0.8)  (5.8)

Tax exempt interest income

  (0.4)  (0.3)  (0.3)  (0.3)

Non-deductible merger expenses

  0.1   -   0.5   - 

Insurance captive

  (0.3)  -   (0.2)  - 

Other, net

  (0.4)  (2.2)  (0.3)  (1.0)

Effective tax rate

  23.0

%

  9.9

%

  20.9

%

  13.1

%