Note 7 - Income Taxes (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

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

	Three months ended						Six months ended
	June 30,						June 30,
(in thousands)	2024			2023			2024			2023
Current income tax expense:
Federal	$	7,096		$	8,086		$	12,212		$	13,280
State		1,658			1,687			2,856			2,364
Total current income tax expense		8,754			9,773			15,068			15,644
Deferred income tax expense:
Federal		(857	)		(1,641	)		(270	)		(224	)
State		(227	)		(157	)		(60	)		687
Total deferred income tax expense		(1,084	)		(1,798	)		(330	)		463
Change in valuation allowance		-			-			-			-
Total income tax expense	$	7,670		$	7,975		$	14,738		$	16,107

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

	Three months ended						Six months ended
	June 30,						June 30,
	2024			2023			2024			2023
U.S. federal statutory income tax rate		21.00	%		21.00	%		21.00	%		21.00	%
State income taxes, net of federal benefit		3.21			3.64			3.20			3.48
Excess tax benefit from stock-based compensation arrangements		0.09			0.15			0.20			(0.49	)
Change in cash surrender value of life insurance		(0.45	)		(0.65	)		(0.70	)		(0.68	)
Tax Credits		(1.51	)		(1.22	)		(1.10	)		(0.37	)
Tax exempt interest income		(0.45	)		(0.49	)		(0.50	)		(0.49	)
Insurance captive		-			(0.32	)		-			(0.31	)
Other, net		(0.14	)		0.27			(0.50	)		(0.02	)
Effective tax rate		21.75	%		22.38	%		21.60	%		22.12	%

Schedule of Unfunded Contributions [Table Text Block]

(dollars in thousands)	June 30, 2024
Remainder of 2024	$	35,981
2025		66,473
2026		36,261
2027		7,178
2028		893
Thereafter		13,725
Total unfunded contributions	$	160,511

Schedule Of Tax Credits And Other Tax Benefits Recognized And Amortization Expense Related To Tax Credit Partnerships [Table Text Block]

	Three months ended				Six months ended
	June 30,				June 30,
(in thousands)	2024		2023		2024		2023
Proportional amortization method:
Tax credits and other tax benefits recognized	$	3,469	$	350	$	7,122	$	700
Amortization expense in provision for income taxes		2,920		398		5,826		797
Amortization expense in other non-interest expense		-		323		-		647
Effective yield method:
Tax credits and other tax benefits recognized	$	-	$	398	$	-	$	799
Amortization expense in provision for income taxes		-		-		-		-
Amortization expense in other non-interest expense		-		-		-		-