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Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

			For the Year Ended December 31,
		2024				2023				2022
Current:		(dollars in thousands)
Federal		$	6,539			$	10,804			$	18,315
State			5,393				6,761				10,952
Total Current			11,932				17,565				29,267
Deferred:
Federal			(1,646	)			(288	)			(1,756	)
State			(1,272	)			504				(493	)
Total Deferred			(2,918	)			216				(2,249	)
Total income tax expense		$	9,014			$	17,781			$	27,018

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

		For the Year Ended December 31,
		2024								2023								2022
		Amount				Rate				Amount				Rate				Amount				Rate
		(dollars in thousands)
Statutory federal tax		$	7,493				21.0	%		$	12,652				21.0	%		$	19,182				21.0	%
State tax, net of federal benefit			3,391				9.5	%			5,181				8.6	%			8,278				9.1	%
Tax-exempt income			(429	)			(1.2	)%			(399	)			(0.7	)%			(355	)			(0.4	)%
Stock-based compensation			(10	)			0.0	%			54				0.1	%			(396	)			(0.4	)%
Tax credits, net of amortization			(978	)			(2.7	)%			(62	)			(0.1	)%			(80	)			(0.1	)%
Other items, net			(453	)			(1.3	)%			355				0.6	%			389				0.4	%
Total income tax expense		$	9,014				25.3	%		$	17,781				29.5	%		$	27,018				29.6	%

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

			2024				2023
Deferred tax assets:		(dollars in thousands)
Allowance for credit losses		$	14,889			$	13,011
Stock-based compensation			244				472
Operating loss carryforwards			4				32
Unrealized loss on AFS securities			8,980				8,597
Lease liability			9,127				9,539
State tax			944				1,444
Other			1,424				1,237
			35,612				34,332
Deferred tax liabilities:
Depreciation			(425	)			(1,389	)
Deferred loan costs			(3,127	)			(3,123	)
Acquisition accounting fair value adjustments			(2,536	)			(2,794	)
Mortgage servicing rights			(1,738	)			(1,991	)
Right of use asset			(8,618	)			(9,115	)
Other			(113	)			(155	)
			(16,557	)			(18,567	)
Net deferred tax assets		$	19,055			$	15,765

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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

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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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