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Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

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

(dollars in thousands)		2023				2022				2021
Current:
Federal		$	10,804			$	18,315			$	16,037
State			6,761				10,952				9,087
Total Current			17,565				29,267				25,124
Deferred:
Federal			(288	)			(1,756	)			(1,148	)
State			504				(493	)			55
Total Deferred			216				(2,249	)			(1,093	)
Total income tax expense		$	17,781			$	27,018			$	24,031

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

		2023								2022								2021
(dollars in thousands)		Amount				Rate				Amount				Rate				Amount				Rate
Statutory federal tax		$	12,652			21.0		%		$	19,182				21.0	%		$	16,997				21.0	%
State tax, net of federal benefit			5,181			8.6		%			8,278				9.1	%			7,182				8.9	%
Tax-exempt income			(399	)		(0.7		)%			(355	)			(0.4	)%			(285	)			(0.4	)%
Stock-based compensation			54			0.1		%			(396	)			(0.4	)%			(404	)			(0.5	)%
Other items, net			293			0.5		%			309				0.3	%			541				0.7	%
Total income tax expense		$	17,781				29.5	%		$	27,018				29.6	%		$	24,031				29.7	%

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

(dollars in thousands)		2023				2022
Deferred tax assets:
Allowance for credit losses		$	13,011			$	12,834
Stock-based compensation			472				546
Operating loss carryforwards			32				154
Unrealized loss on AFS securities			8,597				9,614
Lease liability			9,539				8,149
State tax			1,444				2,426
Other			1,237				917
			34,332				34,640
Deferred tax liabilities:
Depreciation			(1,389	)			(1,598	)
Deferred loan costs			(3,123	)			(2,808	)
Acquisition accounting fair value adjustments			(2,794	)			(3,052	)
Mortgage servicing rights			(1,991	)			(2,259	)
Right of use asset			(9,115	)			(7,818	)
Other			(155	)			(128	)
			(18,567	)			(17,663	)
Net deferred tax assets		$	15,765			$	16,977

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.

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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.

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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.

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