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Note 8 - Federal, State and Local Income Taxes (Tables) | 9 Months Ended
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Jan. 31, 2017
Notes Tables |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
|  | Three Months Ended January 31, |  |  | Nine months ended January 31, |
($ in thousands) |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Current tax expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 851 |  |  | $ | 906 |  |  | $ | 5,424 |  |  | $ | 2,916 |
State and local |  |  | 166 |  |  |  | 62 |  |  |  | 506 |  |  |  | 189 |
Current tax expense |  |  | 1,017 |  |  |  | 968 |  |  |  | 5,930 |  |  |  | 3,105 |
Deferred tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (282 | ) |  |  | (271 | ) |  |  | (870 | ) |  |  | (449 | )
State and local |  |  | (325 | ) |  |  | (1 | ) |  |  | (387 | ) |  |  | (222 | )
Deferred tax expense (benefit): |  |  | (607 | ) |  |  | (272 | ) |  |  | (1,257 | ) |  |  | (671 | )
Income tax provision |  | $ | 410 |  |  | $ | 696 |  |  | $ | 4,673 |  |  | $ | 2,434 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
|  | January 31, |  |  | April 30, |
($ in thousands) |  | 2017 |  |  | 2016 |
Federal tax benefit (liability): |  |  |  |  |  |  |  |
Unrealized gains on securities available-for-sale |  | $ | (150 | ) |  | $ | (68 | )
Capital loss carryforward |  |  | - |  |  |  | 86 |
Operating lease deferred obligation |  |  | - |  |  |  | 58 |
Deferred professional fees |  |  | 17 |  |  |  | 77 |
Deferred charges |  |  | 460 |  |  |  | 250 |
Total federal tax benefit |  |  | 327 |  |  |  | 403 |
State and local tax benefits: |  |  |  |  |  |  |  |
Other |  |  | 17 |  |  |  | 29 |
Total state and local tax benefits |  |  | 17 |  |  |  | 29 |
Deferred tax asset, short term |  | $ | 344 |  |  | $ | 432 |
|  | January 31, |  |  | April 30, |
($ in thousands) |  | 2017 |  |  | 2016 |
Federal tax liability (benefit): |  |  |  |  |  |  |  |
Deferred gain on deconsolidation of EAM |  | $ | 17,737 |  |  | $ | 17,679 |
Deferred non-cash post-employment compensation |  |  | (619 | ) |  |  | (619 | )
Depreciation and amortization |  |  | 736 |  |  |  | 1,812 |
Other |  |  | 134 |  |  |  | 8 |
Total federal tax liability |  |  | 17,988 |  |  |  | 18,880 |
State and local tax liabilities (benefits): |  |  |  |  |  |  |  |
Deferred gain on deconsolidation of EAM |  |  | 1,210 |  |  |  | 1,704 |
Deferred non-cash post-employment compensation |  |  | (42 | ) |  |  | (60 | )
Depreciation and amortization |  |  | 70 |  |  |  | 174 |
Other |  |  | (2 | ) |  |  | (15 | )
Total state and local tax liabilities |  |  | 1,236 |  |  |  | 1,803 |
Deferred tax liability, long term |  | $ | 19,224 |  |  | $ | 20,683 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
|  | Nine months ended January 31, |
|  | 2017 |  |  | 2016 |
U.S. statutory federal tax rate |  |  | 35.00 | % |  |  | 35.00 | %
Increase (decrease) in tax rate from: |  |  |  |  |  |  |  |
State and local income taxes, net of federal income tax benefit |  |  | -0.39 | % |  |  | -1.38 | %
Effect of dividends received deductions |  |  | -0.29 | % |  |  | -0.70 | %
Domestic production tax credit |  |  | -0.19 | % |  |  | -0.54 | %
Settlement of tax audits |  |  | - |  |  |  | -3.60 | %
Other, net |  |  | -0.65 | % |  |  | - |
Effective income tax rate |  |  | 33.48 | % |  |  | 28.78 | %

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 + Details
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- Definition 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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- Definition 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319 + Details
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