Note 2 - Income Taxes

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Income Tax Disclosure [Text Block]

2. INCOME TAXES

The effective tax rate for the

three

-month period ended

March

31,

2017

increased to

34.7%

compared to

31.2%

for the same period in

2016.

The increase in the effective tax rate for the

three

-month period ending

March

31,

2017

was mainly due to higher tax benefits in

2016

from the exercise of options and vesting of restricted stock of

$166,000,

as well as United States federal tax examination adjustments decreasing tax expense by

$48,000

in

2016.

The United States federal tax examination for the tax year ended

December

31,

2013

was completed in the

three

-month period ended

March

31,

2016.