Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

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

	Year Ended December 31,
	2022			2021		2020
	(In thousands)
Current:
Federal	$	57,029		$	29,955	$	(2,196	)
State		56,953			44,416		36,787
Total Current	$	113,982		$	74,371	$	34,591
Deferred:
Federal	$	(1,776	)	$	5,986	$	(3,234	)
State		(312	)		3,182		(6,252	)
Total Deferred	$	(2,088	)	$	9,168	$	(9,486	)
Total income tax expense	$	111,894		$	83,539	$	25,105

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

	As of December 31,
	2022			2021
	(In thousands)
Deferred Tax Assets
Loan loss allowance, due to differences in computation of bad debts	$	47,673		$	43,895
Accrual for bonuses		2,591			4,935
Non-accrual interest		1,572			1,117
Write-down on equity securities and venture capital investments		1,975			2,000
State tax		6,251			4,691
Unrealized loss on interest rate swaps		—			1,394
Unrealized loss on securities available-for-sale, net		40,400			—
Tax credits carried forward		9,136			9,136
Net operating loss carried forward		5,916			8,732
Other, net		4,711			3,765
Gross deferred tax assets	$	120,225		$	79,665
Deferred Tax Liabilities
Deferred loan costs	$	(10,025	)	$	(9,936	)
Depreciation and amortization		(2,856	)		(3,150	)
Unrealized gain on interest rate swaps		(1,364	)		—
Unrealized gain on securities available-for-sale, net		—			(3,823	)
OREO Installment Sale		—			(1,273	)
Dividends on Federal Home Loan Bank common stock		(981	)		(978	)
Other, net		(3,506	)		(2,168	)
Gross deferred tax liabilities	$	(18,732	)	$	(21,328	)
Net deferred tax assets	$	101,493		$	58,337

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

	Year Ended December 31,
	2022					2021					2020
	(Dollars in thousands)
Tax provision at Federal statutory rate	$	99,233		21.0	%	$	80,187		21.0	%	$	53,333		21.0	%
State income taxes, net of Federal income tax benefit		44,837		9.5			37,602		9.8			23,602		9.3
Excess deduction for stock option and RSUs		(140	)	—			(20	)	—			264		0.1
Low income housing and other tax credits		(34,231	)	(7.2	)		(32,795	)	(8.6	)		(52,979	)	(20.8	)
Other, net		2,195		0.4			(1,435	)	(0.3	)		885		0.3
Total income tax expense	$	111,894		23.7	%	$	83,539		21.9	%	$	25,105		9.9	%