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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2012
Income Tax Disclosure [Abstract] |
Income tax allocation |
(In thousands) |  | 2012 |  |  | 2011 |  |  | 2010 |
Allocated to net income |  | $ | (16,952 | ) |  |  | 7,370 |  |  |  | 4,960 |
Allocated to stockholders’ equity, for unrealized holding gain/loss on debt and equity securities for financial reporting purposes |  |  | (237 | ) |  |  | 554 |  |  |  | 251 |
Allocated to stockholders’ equity, for tax expense (benefit) of pension liabilities |  |  | 5,824 |  |  |  | (2,912 | ) |  |  | (688 | )
Total income tax expense (benefit) |  | $ | (11,365 | ) |  |  | 5,012 |  |  |  | 4,523 |
Components of Income tax expense |
($ in thousands) |  | 2012 |  |  | 2011 |  |  | 2010 |
Current - Federal |  | $ | (8,401 | ) |  |  | 9,204 |  |  |  | 25,353 |
- State |  |  | (43 | ) |  |  | 2,094 |  |  |  | 3,807 |
Deferred - Federal |  |  | (5,914 | ) |  |  | (3,234 | ) |  |  | (21,092 | )
- State |  |  | (2,594 | ) |  |  | (694 | ) |  |  | (3,108 | )
Total |  | $ | (16,592 | ) |  |  | 7,370 |  |  |  | 4,960 |
Deferred tax assets and liabilities |
(In thousands) |  | 2012 |  |  | 2011 |
Deferred tax assets: |  |  |  |  |  |  |  |
Allowance for loan losses |  | $ | 18,228 |  |  |  | 16,458 |
Excess book over tax SERP retirement plan cost |  |  | 2,553 |  |  |  | 2,378 |
Deferred compensation |  |  | 128 |  |  |  | 138 |
State net operating loss carryforwards |  |  | 961 |  |  |  | 62 |
Accruals, book versus tax |  |  | 1,403 |  |  |  | 329 |
Pension liability adjustments |  |  | 1,396 |  |  |  | 7,220 |
Foreclosed real estate |  |  | 6,813 |  |  |  | 1,402 |
Basis differences in assets acquired in FDIC transactions |  |  | 1,058 |  |  |  | 771 |
Nonqualified stock options |  |  | 554 |  |  |  | 277 |
Nonaccrual loan interest |  |  | 420 |  |  |  | 744 |
All other |  |  | 732 |  |  |  | 663 |
Gross deferred tax assets |  |  | 34,246 |  |  |  | 30,442 |
Less: Valuation allowance |  |  | (112 | ) |  |  | (81 | )
Net deferred tax assets |  |  | 34,134 |  |  |  | 30,361 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Loan fees |  |  | (1,427 | ) |  |  | (1,217 | )
Excess tax over book pension cost |  |  | (451 | ) |  |  | (219 | )
Depreciable basis of fixed assets |  |  | (2,308 | ) |  |  | (2,372 | )
Amortizable basis of intangible assets |  |  | (9,119 | ) |  |  | (8,334 | )
Unrealized gain on securities available for sale |  |  | (1,283 | ) |  |  | (1,520 | )
FHLB stock dividends |  |  | (437 | ) |  |  | (437 | )
All other |  |  | (124 | ) |  |  | (198 | )
Gross deferred tax liabilities |  |  | (15,149 | ) |  |  | (14,297 | )
Net deferred tax asset - included in other assets |  | $ | 18,985 |  |  |  | 16,064 |
Effective tax rate reconciliation | The following is a reconcilement of federal income tax expense at the statutory rate of 35% to the income tax provision reported in the financial statements.
(In thousands) |  | 2012 |  |  | 2011 |  |  | 2010 |
Tax provision at statutory rate |  | $ | (14,125 | ) |  |  | 7,354 |  |  |  | 5,230 |
Increase (decrease) in income taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt interest income |  |  | (831 | ) |  |  | (852 | ) |  |  | (726 | )
Low income housing tax credits |  |  | (181 | ) |  |  | (163 | ) |  |  | (143 | )
Non-deductible interest expense |  |  | 23 |  |  |  | 33 |  |  |  | 37 |
State income taxes, net of federal benefit |  |  | (1,714 | ) |  |  | 910 |  |  |  | 454 |
Change in valuation allowance |  |  | 31 |  |  |  | (5 | ) |  |  | (145 | )
Other, net |  |  | (155 | ) |  |  | 93 |  |  |  | 253 |
Total |  | $ | (16,952 | ) |  |  | 7,370 |  |  |  | 4,960 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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