XML 67 R36.htm IDEA: XBRL DOCUMENT v2.4.0.6

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Components of income tax expense

The provision for (benefit from) income taxes for the years ended December 31, 2012, 2011, and 2010 consisted of the following:

(In thousands)		Federal				State				Total
2012
Current		$	1,196			$	49			$	1,245
Deferred		249				191				440
Provision for income taxes		$	1,445			$	240			$	1,685
2011
Current		$	686			$	(95	)		$	591
Deferred		893				377				1,270
Provision for income taxes		$	1,579			$	282			$	1,861
2010
Current		$	1,472			$	496			$	1,968
Deferred		(1,677		)		(660		)		(2,337		)
Benefit from income taxes		$	(205	)		$	(164	)		$	(369	)

Components of deferred tax assets and liabilities

Deferred tax assets (liabilities) consisted of the following:

		December 31,
(In thousands)		2012				2011
Deferred tax assets:
Allowance for credit losses		$	4,170			$	4,690
Deferred compensation		3,832				3,660
Net operating loss carryover from acquisition		521				1,188
Bank premises and equipment		862				909
Mark to market adjustment		184				416
Other deferred taxes		253				231
Other than temporary impairment		282				282
Loan and investment impairment		352				352
State Enterprise Zone credit carry-forward		783				522
State capital loss carry-forward		110				114
Alternative minimum tax credit		1,025				530
State taxes		20				58
Other		7				—
Partnership income		77				74
Total deferred tax assets		12,478				13,026
Valuation allowance		(110		)		(114		)
Net deferred tax asset after valuation allowance		12,368				12,912
Deferred tax liabilities:
Finance leases		(2,548		)		(2,650		)
Unrealized gain on available-for-sale investment securities		(5,305		)		(2,884		)
Core deposit intangible		(240		)		(322		)
FHLB stock		(241		)		(241		)
Loan origination costs		(256		)		(176		)
Total deferred tax liabilities		(8,590		)		(6,273		)
Net deferred tax assets		$	3,778			$	6,639

Reconciliation of effective tax rate

The significant items comprising these differences for the years ended December 31, 2012, 2011, and 2010 consisted of the following:

	2012			2011			2010
Federal income tax, at statutory rate	34.0	%		34.0	%		34.0	%
State taxes, net of Federal tax benefit	2.8	%		3.6	%		(3.7	)%
Tax exempt investment security income, net	(16.7	)%		(14.0	)%		(34.7	)%
Bank owned life insurance, net	(1.4	)%		(1.6	)%		(4.6	)%
Solar credits	(1.4	)%		(1.6	)%		(5.4	)%
Change in uncertain tax positions	0.5	%		0.5	%		(1.3	)%
Other	0.5	%		1.4	%		3.0	%
Effective tax rate	18.3	%		22.3	%		(12.7	)%

Rollforward of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

Balance at January 1, 2012	$	255
Additions based on tax positions related to the current year	61
Reductions for tax positions of prior years	—
Balance at December 31, 2012	$	316

X

- Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: 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

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 55

-Paragraph 217

-URI http://asc.fasb.org/extlink&oid=21917533&loc=d3e36027-109320



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15A

-URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration