Note 9 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

Years Ended December 31, (in thousands)	2024			2023			2022
Current income tax expense:
Federal	$	27,377		$	25,360		$	22,405
State		5,566			5,254			2,962
Total current income tax expense		32,943			30,614			25,367
Deferred income tax expense (benefit):
Federal		(2,681	)		(977	)		(513	)
State		(435	)		542			2,336
Total deferred income tax expense (benefit)		(3,116	)		(435	)		1,823
Total income tax expense	$	29,827		$	30,179		$	27,190

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

Years Ended December 31, (in thousands)	2024			2023			2022
Unrealized gain (loss) on securities available for sale	$	(359	)	$	7,416		$	(35,323	)
Unrealized gain (loss) on derivatives		983			(58	)		-
Minimum pension liability adjustment		18			(17	)		126
Total income tax (benefit) expense recorded directly to stockholders' equity	$	642		$	7,341		$	(35,197	)

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

Years Ended December 31,	2024			2023			2022
U.S. federal statutory income tax rate		21.00	%		21.00	%		21.00	%
State income taxes, net of federal benefit		2.75			3.27			3.45
Excess tax benefits from stock-based compensation arrangements		(0.76	)		(0.31	)		(0.97	)
Change in cash surrender value of life insurance		(0.61	)		(0.64	)		0.18
Tax credits		(1.54	)		(0.54	)		(0.16	)
Tax exempt interest income		(0.43	)		(0.50	)		(0.62	)
Non-deductible merger expenses		-			-			0.11
Insurance captive		-			(0.20	)		(0.29	)
Amortization of investment in tax credit partnerships		-			0.20			0.06
Other, net		0.25			(0.40	)		(0.19	)
Effective tax rate		20.66	%		21.88	%		22.57	%

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

December 31, (in thousands)	2024		2023
Deferred tax assets:
Investment securities	$	30,308	$	29,805
Allowance for credit losses		21,373		19,575
Deferred compensation		6,605		6,807
Operating lease liability		7,580		5,449
Acquired loan fair value adjustments		2,500		3,205
Accrued expenses		3,905		2,691
Interest rate swaps		-		63
Write-downs and costs associated with OREO		27		27
Deferred PPP loan fees		9		17
Total deferred tax assets		72,307		67,639
Deferred tax liabilities:
Right-of-use operating lease asset		7,300		5,181
Mortgage servicing rights		2,786		3,192
Core deposit intangibles		1,975		2,688
Customer list intangible		1,681		2,062
Property and equipment		2,143		2,036
Other liabilities		1,897		2,025
Investments in tax credit partnerships		227		1,515
Loan costs		1,599		1,504
Interest rate swaps		925		-
Leases		128		200
Total deferred tax liabilities		20,661		20,403
Net deferred tax asset	$	51,646	$	47,236

Schedule of Unfunded Contributions [Table Text Block]

(dollars in thousands)	December 31, 2024
2025	$	81,632
2026		46,236
2027		11,269
2028		965
2029		1,128
Thereafter		6,008
Total unfunded contributions	$	147,238

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

December 31, (in thousands)	2024		2023
Proportional amortization method:
Tax credits and other tax benefits recognized	$	12,390	$	417
Amortization expense in provision for income taxes		9,268		3,295
Amortization expense in other non-interest expense		-		1,294
Effective yield method:
Tax credits and other tax benefits recognized	$	-	$	1,598
Amortization expense in provision for income taxes		-		-
Amortization expense in other non-interest expense		-		-