NOTE 5 - INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2021

Notes Tables

Reconciliation of the expected federal income tax expense

	For the Three Months Ended March 31,
	2021				2020
			% of				% of
			Pretax				Pretax
	Amount		Income		Amount		Income
	(dollars in thousands)
Computed "expected" tax expense	$	4,520	21.0	%	$	2,754	21.0	%
Tax exempt income, net		(1,719)	(8.0)			(1,225)	(9.3)
Bank-owned life insurance		(99)	(0.5)			(55)	(0.4)
State income taxes, net of federal benefit, current year		1,024	4.8			677	5.2
Tax credits		(57)	(0.3)			(116)	(0.9)
Excess tax benefit on stock options exercised and restricted stock awards vested		(164)	(0.8)			(264)	(2.0)
Other		36	0.2			113	0.8
Federal and state income tax expense	$	3,541	16.4	%	$	1,884	14.4	%