Note 10 - Income Taxes |
6 Months Ended |
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Jun. 30, 2026 | |
| Notes to Financial Statements | |
| Income Tax Disclosure [Text Block] |
Note 10. Income Taxes
The Company’s effective income tax rate for the three and six months ended June 30, 2026 was 26.3% and 3.5%, respectively. The Company's effective income tax rate for the three and six months ended June 30, 2025 was 20.0% and 16.1%, respectively. The effective tax rate for the three months ended June 30, 2026 includes permanent tax differences related to the Company's restricted stock units that were issued in the first six months of 2026 and stock options that were exercised during the six months ended June 30, 2026.
During the first quarter of 2026, the Company concluded that it was more‑likely‑than‑not that TPBI’s separate company state net operating losses and other deferred tax assets, excluding the State §163(j) interest limitation carryforward, would be realizable. As a result, the Company released $2.4 million of the related valuation allowance as a discrete item in the quarter.
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