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Note 3 - Income Taxes
9 Months Ended
Sep. 30, 2013
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

3. INCOME TAXES


The Company’s effective tax rate increased to 35.9% for the three-month period ended September 30, 2013, compared to 34.9% for the same period in 2012. The effective tax rate for the nine-month period ended September 30, 2013, increased to 36.8% compared to 31.3% for the same period in 2012. These increases were primarily due to an adjustment to income taxes of $575,000 for decreases in deferred state tax rates resulting from legislative changes in 2012, and nondeductible fees associated with the May 2013 Recapitalization that were incurred during the nine-month period ended September 30, 2013 and are part of the annualized effective tax rate.


The unrecognized tax benefit as of September 30, 2013, was $172,000, excluding interest of $14,000 and no penalties. The full unrecognized tax benefits, if recognized, would favorably impact the effective income tax rate. The Company believes it is reasonably possible that the total amount of unrecognized tax benefits will stay consistent during the next 12 months due to any growth in unrecognized tax benefits being offset by the expiration of the U.S. federal statute of limitations associated with certain other tax positions. The Company accrues interest and penalties related to uncertain tax position in the statements of income as income tax expense.