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Note 14 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

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

		Year Ended December 31,
(Amounts in thousands)		2023				2022				2021
Current tax expense:
Federal		$	11,055			$	9,883			$	8,546
State			1,553				1,648				1,563
Total current tax expense			12,608				11,531				10,109
Deferred tax expense:
Federal			1,166				1,800				4,677
State			180				164				574
Total deferred tax expense			1,346				1,964				5,251
Total income tax expense		$	13,954			$	13,495			$	15,360

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

		Year Ended December 31,
		2023								2022								2021
		Amount				Percent				Amount				Percent				Amount				Percent
(Amounts in thousands)
Federal income tax at the statutory rate		$	13,014				21.00	%		$	12,633				21.00	%		$	13,971				21.00	%
State income tax, net of federal benefit			1,368				2.21	%			1,432				2.38	%			2,076				3.12	%
			14,382				23.21	%			14,065				23.38	%			16,047				24.12	%
Increase (decrease) resulting from:
Tax-exempt interest income			(348	)			(0.56	)%			(347	)			(0.58	)%			(340	)			(0.51	)%
Excess tax benefits			(25	)			(0.04	)%			(24	)			(0.04	)%			(133	)			(0.20	)%
Bank owned life insurance			(167	)			(0.27	)%			(68	)			(0.11	)%			(225	)			(0.34	)%
Other items, net			112				0.17	%			(131	)			(0.22	)%			11				0.02	%
Income tax at the effective tax rate		$	13,954				22.51	%		$	13,495				22.43	%		$	15,360				23.09	%

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

		December 31,
(Amounts in thousands)		2023				2022
Deferred tax assets
Allowance for credit losses		$	8,523			$	7,283
Unrealized losses on available-for-sale securities			2,958				4,153
Unrealized asset losses			420				503
Purchase accounting			—				148
FDIC assisted transactions			346				588
Deferred loan fees			4,674				2,074
Deferred compensation assets			6,316				5,035
Federal net operating loss carryforward			266				1,223
Lease liability			146				160
Accrued litigation			824				—
Other			831				707
Total deferred tax assets			25,304				21,874
Deferred tax liabilities
Fixed assets			(939	)			(755	)
Intangible assets			(4,303	)			(857	)
Odd days interest deferral			(4,134	)			(4,010	)
Purchase accounting			(81	)			—
Right of use asset			(140	)			(155	)
Other			(869	)			(197	)
Total deferred tax liabilities			(10,466	)			(5,974	)
Net deferred tax asset		$	14,838			$	15,900

X

- 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

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-Section 50
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

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