Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

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

	Year Ended December 31,
	2021		2020			2019
	(In thousands)
Current:
Federal	$	29,955	$	(2,196	)	$	20,943
State		44,416		36,787			39,466
Total Current	$	74,371	$	34,591		$	60,409
Deferred:
Federal	$	5,986	$	(3,234	)	$	7,464
State		3,182		(6,252	)		2,361
Total Deferred	$	9,168	$	(9,486	)	$	9,825
Total income tax expense	$	83,539	$	25,105		$	70,234

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

	As of December 31,
	2021			2020
	(In thousands)
Deferred Tax Assets
Loan loss allowance, due to differences in computation of bad debts	$	43,895		$	52,899
Share-based compensation		—			1,936
Accrual for bonuses		4,935			3,356
Non-accrual interest		1,117			861
Write-down on equity securities and venture capital investments		2,000			1,833
State tax		4,691			3,882
Unrealized loss on interest rate swaps		1,394			2,934
Tax credits carried forward		9,136			9,136
Net operating loss carried forward		8,732			10,880
Other, net		3,765			3,864
Gross deferred tax assets		79,665			91,581
Deferred Tax Liabilities
Deferred loan costs		(9,936	)		(10,017	)
Depreciation and amortization		(3,150	)		(2,709	)
Unrealized gain on securities		(3,823	)		(8,712	)
OREO Installment Sale		(1,273	)		(1,274	)
Dividends on Federal Home Loan Bank common stock		(978	)		(979	)
Other, net		(2,168	)		(3,599	)
Gross deferred tax liabilities		(21,328	)		(27,290	)
Net deferred tax assets	$	58,337		$	64,291

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

	Year Ended December 31,
	2021					2020					2019
	(Dollars in thousands)
Tax provision at Federal statutory rate	$	80,187		21.0	%	$	53,333		21.0	%	$	73,368		21.0	%
State income taxes, net of Federal income tax benefit		37,602		9.8			23,602		9.3			33,276		9.5
Excess deduction for stock option and RSUs		(20	)	(0.0	)		264		0.1			(398	)	(0.1	)
Low income housing and other tax credits		(32,795	)	(8.6	)		(52,979	)	(20.8	)		(37,519	)	(10.7	)
Other, net		(1,435	)	(0.4	)		885		0.3			1,507		0.4
Total income tax expense	$	83,539		21.9	%	$	25,105		9.9	%	$	70,234		20.1	%