Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

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

	Year Ended December 31,
	2020			2019		2018
	(In thousands)
Current:
Federal	$	(2,196	)	$	20,943	$	26,820
State		36,787			39,466		36,639
Total Current	$	34,591		$	60,409	$	63,459
Deferred:
Federal	$	(3,234	)	$	7,464	$	1,495
State		(6,252	)		2,361		848
Total Deferred	$	(9,486	)	$	9,825	$	2,343
Total income tax expense	$	25,105		$	70,234	$	65,802

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

	As of December 31,
	2020			2019
	(In thousands)
Deferred Tax Assets
Loan loss allowance, due to differences in computation of bad debts	$	52,899		$	38,936
Share-based compensation		1,936			2,945
Accrual for bonuses		3,356			1,293
Non-accrual interest		861			1,005
Write-down on equity securities and venture capital investments		1,833			2,010
State tax		3,882			4,540
Unrealized loss on interest rate swaps		2,934			1,599
Tax credits carried forward		9,136			9,473
Net operating loss carried forward		10,880			14,247
Other, net		3,864			3,719
Gross deferred tax assets		91,581			79,767
Deferred Tax Liabilities
Deferred loan costs		(10,017	)		(9,778	)
Depreciation and amortization		(2,709	)		(1,606	)
Unrealized gain on securities available-for-sale, net		(8,712	)		(5,990	)
Unrealized gain on equity securities		—			(668	)
OREO Installment Sale		(1,274	)		—
Dividends on Federal Home Loan Bank common stock		(979	)		(978	)
Other, net		(3,599	)		(3,307	)
Gross deferred tax liabilities		(27,290	)		(22,327	)
Net deferred tax assets	$	64,291		$	57,440

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

	Year Ended December 31,
	2020					2019					2018
	(Dollars in thousands)
Tax provision at Federal statutory rate	$	53,333		21.0	%	$	73,368		21.0	%	$	70,914		21.0	%
State income taxes, net of Federal income tax benefit		23,602		9.3			33,276		9.5			29,750		8.8
Excess deduction for stock option and RSUs		264		0.1			(398	)	(0.1	)		(555	)	(0.2	)
Non-taxable bargain purchase gain		—		—			—		—			(71	)	—
Low income housing and other tax credits		(52,979	)	(20.8	)		(37,519	)	(10.7	)		(34,517	)	(10.2	)
Other, net		885		0.3			1,507		0.4			281		0.1
Total income tax expense	$	25,105		9.9	%	$	70,234		20.1	%	$	65,802		19.5	%