Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

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

Years Ended December 31, (in thousands)	2023			2022			2021
Current income tax expense:
Federal	$	25,360		$	22,405		$	13,292
State		5,254			2,962			2,059
Total current income tax expense		30,614			25,367			15,351
Deferred income tax expense (benefit):
Federal		(977	)		(513	)		3,318
State		542			2,336			2,176
Total deferred income tax expense (benefit)		(435	)		1,823			5,494
Change in valuation allowance		-			-			(93	)
Total income tax expense	$	30,179		$	27,190		$	20,752

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

Years Ended December 31, (in thousands)	2023			2022			2021
Unrealized gain (loss) on securities available for sale	$	7,416		$	(35,323	)	$	(5,371	)
Unrealized gain (loss) on derivatives		(58	)		-			38
Minimum pension liability adjustment		(17	)		126			52
Total income tax (benefit) expense recorded directly to stockholders' equity	$	7,341		$	(35,197	)	$	(5,281	)

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

Years Ended December 31,	2023			2022			2021
U.S. federal statutory income tax rate		21.0	%		21.0	%		21.0	%
State income taxes, net of federal benefit		3.3			3.5			3.5
Excess tax benefits from stock-based compensation arrangements		(0.3	)		(1.0	)		(1.1	)
Change in cash surrender value of life insurance		(0.7	)		0.2			(0.8	)
Tax credits		(0.5	)		(0.2	)		(0.3	)
Tax exempt interest income		(0.5	)		(0.6	)		(0.4	)
Non-deductible merger expenses		-			0.1			0.4
Insurance captive		(0.2	)		(0.3	)		(0.2	)
Amortization of investment in tax credit partnerships		0.2			0.1			0.1
Other, net		(0.4	)		(0.2	)		(0.4	)
Effective tax rate		21.9	%		22.6	%		21.8	%

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

December 31, (in thousands)	2023		2022
Deferred tax assets:
Investment securities	$	29,805	$	35,935
Allowance for credit losses		19,575		18,099
Deferred compensation		6,807		6,349
Operating lease liability		5,449		5,066
Acquired loan fair value adjustments		3,205		3,506
Accrued expenses		2,691		4,605
Interest rate swaps		63		6
Write-downs and costs associated with OREO		27		21
Deferred PPP loan fees		17		77
Investments in tax credit partnerships		-		215
State net operating loss		-		540
Total deferred tax assets		67,639		74,419
Deferred tax liabilities:
Right-of-use operating lease asset		5,181		4,848
Mortgage servicing rights		3,192		3,712
Core deposit intangibles		2,688		3,399
Customer list intangible		2,062		2,469
Property and equipment		2,036		2,395
Other liabilities		2,025		2,009
Investments in tax credit partnerships		1,515		-
Loan costs		1,504		1,272
Leases		200		170
Total deferred tax liabilities		20,403		20,274
Net deferred tax asset	$	47,236	$	54,145