Note 13 - Federal and State Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Notes Tables

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

	2016			2015			2014
Current	$	11,969,194		$	5,673,774		$	4,203,979
Deferred		(3,066,407	)		(2,004,532	)		(1,165,009	)
	$	8,902,787		$	3,669,242		$	3,038,970

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

	Years Ended December 31,
	2016						2015						2014
				% of						% of						% of
				Pretax						Pretax						Pretax
	Amount			Income			Amount			Income			Amount			Income
Computed "expected" tax expense	$	12,806,351			35.0	%	$	7,208,993			35.0	%	$	6,297,027			35.0	%
Effect of graduated tax rates		(250,013	)		(0.7	)		(76,973	)		(0.4	)		(79,529	)		(0.4	)
Tax exempt income, net		(4,343,270	)		(11.9	)		(3,461,438	)		(16.8	)		(2,646,275	)		(14.7	)
Bank-owned life insurance		(619,988	)		(1.7	)		(616,737	)		(3.0	)		(585,312	)		(3.3	)
State income taxes, net of federal benefit, current year		1,245,524			3.4			767,557			3.7			497,068			2.8
Change in unrecognized tax benefits		121,008			0.3			223,668			1.1			(55,728	)		(0.3	)
Acquisition costs		176,050			0.5			-			-			-			-
Other		(232,875	)		(0.6	)		(375,828	)		(1.8	)		(388,281	)		(2.1	)
	$	8,902,787			24.3	%	$	3,669,242			17.8	%	$	3,038,970			17.0	%

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	2016			2015
Balance, beginning	$	1,225,959		$	1,002,291
Impact of tax positions taken during current year		319,047			468,055
Gross increase related to tax positions of prior years		17,789			16,965
Reduction as a result of a lapse of the applicable statute of limitations		(215,828	)		(261,352	)
Balance, ending	$	1,346,967		$	1,225,959

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

	2016		2015
Deferred tax assets:
Alternative minimum tax credits	$	6,513,502	$	5,475,062
New markets tax credits		1,797,587		2,700,000
Net unrealized losses on securities available for sale and derivative instruments		1,470,759		1,268,068
Compensation		8,737,976		8,687,856
Loan/lease losses		10,479,227		8,802,271
Net operating loss carryforwards, federal and state		1,879,746		2,069,093
Other		247,594		452,854
		31,126,391		29,455,204
Deferred tax liabilities:
Premises and equipment		4,899,107		1,173,966
Equipment financing leases		22,050,540		25,059,159
Acquisition fair value adjustments		1,336,338		1,755,874
Investment accretion		46,581		44,462
Deferred loan origination fees, net		261,915		137,461
Other		456,219		678,227
		29,050,700		28,849,149
Net deferred tax asset	$	2,075,691	$	606,055

Deferred Taxes in Financial Statements [Table Text Block]

	2016			2015			2014
Provision for income taxes	$	(3,066,407	)	$	(2,004,532	)	$	(1,165,009	)
Net deferred tax asset acquired from CSB		(3,310,553	)		-			-
Net deferred tax asset resulting from market value adjustments of acquisition of CSB		5,110,015			-			-
Statement of stockholders' equity- Accumulated other comprehensive income (loss)		(202,691	)		(81,524	)		7,281,574
	$	(1,469,636	)	$	(2,086,056	)	$	6,116,565