XML 186 R21.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Note 14: Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2012
Notes |
Note 14: Income Taxes | Note 14: Income Taxes The Company files a consolidated federal income tax return. As of December 31, 2012 and 2011, retained earnings included approximately $17.5 million for which no deferred income tax liability had been recognized. This amount represents an allocation of income to bad debt deductions for tax purposes only for tax years prior to 1988. If the Bank were to liquidate, the entire amount would have to be recaptured and would create income for tax purposes only, which would be subject to the then-current corporate income tax rate. The unrecorded deferred income tax liability on the above amount was approximately $6.5 million at December 31, 2012 and 2011. During the years ended December 31, 2012, 2011 and 2010, the provision for income taxes included these components:
| 2012 |  | 2011 |  | 2010
(In Thousands) |  |  |  |  |
Taxes currently payable | $(142) |  | $14,817 |  | $14,345
Deferred income taxes | 13,252 |  | (9,304) |  | (5,451)
Income taxes | 13,110 |  | 5,513 |  | 8,894
Taxes attributable to |  |  |  |  |
discontinued operations | (2,487) |  | (330) |  | (304)
Income tax expense attributable to continuing operations | $10,623 |  | $5,183 |  | $8,590
The tax effects of temporary differences related to deferred taxes shown on the statements of financial condition were:
| December 31, |
| 2012 |  | 2011
(In Thousands) |  |  |
Deferred tax assets |  |  |
Allowance for loan losses | $14,227 |  | $14,431
Interest on nonperforming loans | 549 |  | 439
Accrued expenses | 611 |  | 1,005
Excess of cost over fair value of net assets acquired | -- |  | 155
Realized impairment on available-for-sale |  |  |
securities | 1,247 |  | 2,088
Write-down of foreclosed assets | 4,119 |  | 5,661
Total | 20,753 |  | 23,779
Deferred tax liabilities |  |  |
Tax depreciation in excess of book depreciation | (3,717) |  | (1,292)
FHLB stock dividends | (2,091) |  | (2,005)
Partnership tax credits | (3,241) |  | (3,085)
Prepaid expenses | (1,134) |  | --
Unrealized gain on available-for-sale securities | (8,965) |  | (6,684)
Difference in basis for acquired assets and |  |  |
liabilities | (21,619) |  | (15,235)
Other | (274) |  | (233)
Total | (41,041) |  | (28,534)
Net deferred tax liability | $(20,288) |  | $(4,755)
Reconciliations of the Company’s effective tax rates from continuing operations to the statutory corporate tax rates were as follows:
| 2012 |  | 2011 |  | 2010
Tax at statutory rate | 35.0% |  | 35.0% |  | 35.0%
Nontaxable interest and dividends | (3.5) |  | (6.3) |  | (5.1)
Tax credits | (12.5) |  | (15.2) |  | (4.0)
State taxes | 0.5 |  | 0.7 |  | 0.8
Other | (0.1) |  | 0.7 |  | 0.2
Total | 19.4% |  | 14.9% |  | 26.9%
The Company and its consolidated subsidiaries have not been audited recently by the Internal Revenue Service or the State of Missouri with respect to income or franchise tax returns, and as such, tax years through December 31, 2005, have been closed without audit. The Company, through one of its subsidiaries, is a partner in two partnerships currently under Internal Revenue Service examinations for 2006 and 2007. As a result, the Company’s 2006 and subsequent tax years remain open for examination. It is too early in the examination process to predict the outcome of the underlying partnership examinations; however, the Company does not expect significant adjustments to its financial statements from these examinations.

X
- Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 7: 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 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration