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Note 10 - Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Notes Tables |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
Years Ended December 31, (in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Current income tax expense: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 22,405 |  |  | $ | 13,292 |  |  | $ | 15,474 |
State |  |  | 2,962 |  |  |  | 2,059 |  |  |  | 908 |
Total current income tax expense |  |  | 25,367 |  |  |  | 15,351 |  |  |  | 16,382 |
Deferred income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (513 | ) |  |  | 3,318 |  |  |  | (5,398 | )
State |  |  | 2,336 |  |  |  | 2,176 |  |  |  | (2,082 | )
Total deferred income tax expense (benefit) |  |  | 1,823 |  |  |  | 5,494 |  |  |  | (7,480 | )
Change in valuation allowance |  |  | - |  |  |  | (93 | ) |  |  | (28 | )
Total income tax expense |  | $ | 27,190 |  |  | $ | 20,752 |  |  | $ | 8,874 |
Schedule of Income Tax Expense Benefit, Recorded Directly to Stockholders Equity [Table Text Block] |
Years Ended December 31, (in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Unrealized gain (loss) on securities available for sale |  | $ | (35,323 | ) |  | $ | (5,371 | ) |  | $ | 2,607 |
Unrealized gain (loss) on derivatives |  |  | - |  |  |  | 38 |  |  |  | (27 | )
Minimum pension liability adjustment |  |  | 126 |  |  |  | 52 |  |  |  | (25 | )
Total income tax (benefit) expense recorded directly to stockholders' equity |  | $ | (35,197 | ) |  | $ | (5,281 | ) |  | $ | 2,555 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
Years Ended December 31, |  | 2022 |  |  | 2021 |  |  | 2020 |
U.S. federal statutory income tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
State income taxes, net of federal benefit |  |  | 3.5 |  |  |  | 3.5 |  |  |  | 0.8 |
Excess tax benefits from stock-based compensation arrangements |  |  | (1.0 | ) |  |  | (1.1 | ) |  |  | (0.7 | )
Change in cash surrender value of life insurance |  |  | 0.2 |  |  |  | (0.8 | ) |  |  | (0.8 | )
Tax credits |  |  | (0.2 | ) |  |  | (0.3 | ) |  |  | (5.5 | )
Kentucky state income tax enactments |  |  | — |  |  |  | — |  |  |  | (2.2 | )
Tax exempt interest income |  |  | (0.6 | ) |  |  | (0.4 | ) |  |  | (0.3 | )
Non-deductible merger expenses |  |  | 0.1 |  |  |  | 0.4 |  |  |  | — |
Insurance captive |  |  | (0.3 | ) |  |  | (0.2 | ) |  |  | — |
Amortization of investment in tax credit partnerships |  |  | 0.1 |  |  |  | 0.1 |  |  |  | 1.0 |
Other, net |  |  | (0.2 | ) |  |  | (0.4 | ) |  |  | (0.2 | )
Effective tax rate |  |  | 22.6 | % |  |  | 21.8 | % |  |  | 13.1 | %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
December 31, (in thousands) |  | 2022 |  |  | 2021 |
Deferred tax assets: |  |  |  |  |  |  |  |
Allowance for credit losses |  | $ | 18,099 |  |  | $ | 13,354 |
Deferred compensation |  |  | 6,349 |  |  |  | 6,245 |
Operating lease liability |  |  | 5,066 |  |  |  | 3,951 |
State net operating loss |  |  | 540 |  |  |  | 2,217 |
Deferred PPP loan fees |  |  | 77 |  |  |  | 1,186 |
Accrued expenses |  |  | 4,605 |  |  |  | 3,345 |
Investments in tax credit partnerships |  |  | 215 |  |  |  | 747 |
Interest rate swaps |  |  | 6 |  |  |  | — |
Securities |  |  | 35,935 |  |  |  | 1,171 |
Acquired loan fair value adjustments |  |  | 3,506 |  |  |  | 808 |
Other assets |  |  | — |  |  |  | 343 |
Write-downs and costs associated with other real estate owned |  |  | 21 |  |  |  | 21 |
Total deferred tax assets |  |  | 74,419 |  |  |  | 33,388 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Right-of-use operating lease asset |  |  | 4,848 |  |  |  | 3,706 |
Property and equipment |  |  | 2,395 |  |  |  | 970 |
Loan costs |  |  | 1,272 |  |  |  | 968 |
Mortgage servicing rights |  |  | 3,712 |  |  |  | 1,088 |
Leases |  |  | 170 |  |  |  | 221 |
Core deposit intangibles |  |  | 3,399 |  |  |  | 1,077 |
Customer list intangibles |  |  | 2,469 |  |  |  | — |
Other liabilities |  |  | 2,009 |  |  |  | 1,018 |
Total deferred tax liabilities |  |  | 20,274 |  |  |  | 9,048 |
Net deferred tax asset |  | $ | 54,145 |  |  | $ | 24,340 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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