Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

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

	Year Ended December 31,
	2023			2022			2021
	(In thousands)
Current:
Federal	$	5,428		$	57,029		$	29,955
State		48,812			56,953			44,416
Total Current	$	54,240		$	113,982		$	74,371
Deferred:
Federal	$	(1,676	)	$	(1,776	)	$	5,986
State		(3,106	)		(312	)		3,182
Total Deferred	$	(4,782	)	$	(2,088	)	$	9,168
Total income tax expense	$	49,458		$	111,894		$	83,539

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

	As of December 31,
	2023			2022
	(In thousands)
Deferred Tax Assets
Loan loss allowance	$	50,126		$	47,673
Accrual for bonuses		4,636			2,591
Non-accrual interest		2,164			1,572
Write-down on equity securities and venture capital investments		2,018			1,975
Depreciation and amortization		765			—
State tax		5,693			6,251
Unrealized loss on securities available-for-sale, net		31,728			40,400
Tax credits carried forward		9,136			9,136
Net operating loss carried forward		3,787			5,916
Other, net		7,632			4,711
Gross deferred tax assets	$	117,685		$	120,225
Deferred Tax Liabilities
Deferred loan costs	$	(9,687	)	$	(10,025	)
Depreciation and amortization		—			(2,856	)
Unrealized gain on interest rate swaps		(838	)		(1,364	)
Unrealized gain on equity securities		(4,863	)		—
Dividends on Federal Home Loan Bank common stock		(977	)		(981	)
Other, net		(3,916	)		(3,506	)
Gross deferred tax liabilities	$	(20,281	)	$	(18,732	)
Net deferred tax assets	$	97,404		$	101,493

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

	Year Ended December 31,
	2023					2022					2021
	(Dollars in thousands)
Tax provision at Federal statutory rate	$	84,752		21.0	%	$	99,233		21.0	%	$	80,187		21.0	%
State income taxes, net of Federal income tax benefit		36,107		9.0			44,837		9.5			37,602		9.8
Excess deduction for stock option and RSUs		(586	)	(0.1	)		(140	)	—			(20	)	—
Low income housing and other tax credits		(73,715	)	(18.3	)		(34,231	)	(7.2	)		(32,795	)	(8.6	)
Other, net		2,900		0.7			2,195		0.4			(1,435	)	(0.3	)
Total income tax expense	$	49,458		12.3	%	$	111,894		23.7	%	$	83,539		21.9	%