Note 11 - Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Notes Tables

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

	2018			2017			2016
Current expense	$	10,170,000		$	13,978,000		$	15,786,000
Deferred expense		(372,000	)		(505,000	)		(699,000	)
Effect of federal tax law change		0			1,336,000			0
Change in valuation allowance		0			0			(113,000	)
Tax expense	$	9,798,000		$	14,809,000		$	14,974,000

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

	2018			2017			2016
Tax at statutory rate	$	10,883,000		$	16,129,000		$	16,410,000
Increase (decrease) from
Tax-exempt interest		(620,000	)		(1,030,000	)		(876,000	)
Bank owned life insurance		(201,000	)		(948,000	)		(440,000	)
Effect of federal tax law change		0			1,336,000			0
Change in valuation allowance		0			0			(113,000	)
Other		(264,000	)		(678,000	)		(7,000	)
Tax expense	$	9,798,000		$	14,809,000		$	14,974,000

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

	2018			2017
Deferred income tax assets
Allowance for loan losses	$	4,700,000		$	4,095,000
Deferred compensation		630,000			673,000
Stock compensation		660,000			501,000
Nonaccrual loan interest income		297,000			425,000
Deferred loan fees		185,000			211,000
Capital loss carryforward		94,000			94,000
Fair value write-downs on foreclosed properties		15,000			23,000
Unrealized loss on securities		2,190,000			1,303,000
Other		340,000			311,000
Deferred tax asset before valuation allowance		9,111,000			7,636,000
Valuation allowance		(94,000	)		(94,000	)
Deferred tax asset after valuation allowance		9,017,000			7,542,000
Deferred income tax liabilities
Depreciation		1,205,000			727,000
Prepaid expenses		238,000			244,000
Core deposit intangible		1,142,000			1,565,000
Mortgage loan servicing rights		932,000			1,072,000
Business combination adjustments		2,054,000			1,784,000
Other		183,000			146,000
Deferred tax liability		5,754,000			5,538,000
Total net deferred tax asset	$	3,263,000		$	2,004,000