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Income Taxes | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Income Taxes | Note 12. Income Taxes The Company and its subsidiaries file a consolidated federal income tax return. The Company files consolidated or separate state income tax returns as permitted by individual states in which it operates. Income tax expense was $14.9 million, $14.8 million, and $9.1 million for the years ended December 31, 2016, 2015, and 2014, respectively, which differed from the amount computed by applying the federal income tax rate of 35% to total income before income taxes as a result of the following:
|  | Year Ended December 31, |
In thousands |  | 2016 |  |  | 2015 |  |  | 2014 |
Federal tax expense at statutory rate |  | $ | 13,632 |  |  | $ | 13,349 |  |  | $ | 8,379 |
Increase (reduction) in income taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
State tax, net of federal benefit |  |  | 1,275 |  |  |  | 1,098 |  |  |  | 603 |
Non-deductible compensation |  |  | — |  |  |  | 378 |  |  |  | — |
Other |  |  | 10 |  |  |  | (51 | ) |  |  | 155 |
|  | $ | 14,917 |  |  | $ | 14,774 |  |  | $ | 9,137 |
Income tax expense attributable to total income before income taxes consists of the following for the periods indicated:
|  | Year Ended December 31, |
In thousands |  | 2016 |  |  | 2015 |  |  | 2014 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 11,431 |  |  | $ | 13,037 |  |  | $ | 11,827 |
State and local |  |  | 1,584 |  |  |  | 1,859 |  |  |  | 1,859 |
|  |  | 13,015 |  |  |  | 14,896 |  |  |  | 13,686 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 1,694 |  |  |  | (104 | ) |  |  | (3,958 | )
State and local |  |  | 208 |  |  |  | (18 | ) |  |  | (591 | )
|  |  | 1,902 |  |  |  | (122 | ) |  |  | (4,549 | )
Total |  | $ | 14,917 |  |  | $ | 14,774 |  |  | $ | 9,137 |
Net deferred tax assets and liabilities consist of the following as of the periods indicated:
|  | December 31, |
In thousands |  | 2016 |  |  | 2015 |
Deferred tax assets: |  |  |  |  |  |  |  |
Allowance for credit losses |  | $ | 15,823 |  |  | $ | 14,463 |
Share-based compensation |  |  | 2,888 |  |  |  | 2,241 |
Unearned insurance premiums |  |  | 2,612 |  |  |  | 2,152 |
Amortization of intangible assets |  |  | 675 |  |  |  | 661 |
Accrued expenses |  |  | 565 |  |  |  | 475 |
Deferred contract incentive |  |  | 307 |  |  |  | — |
State net operating loss carryforward |  |  | 32 |  |  |  | 17 |
Other |  |  | 50 |  |  |  | 111 |
Gross deferred tax assets |  |  | 22,952 |  |  |  | 20,120 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Fair market value adjustment of finance receivables |  |  | 17,448 |  |  |  | 13,469 |
Deferred loan costs |  |  | 2,283 |  |  |  | 2,302 |
Tax over book depreciation |  |  | 2,266 |  |  |  | 1,585 |
Prepaid expenses |  |  | 724 |  |  |  | 616 |
Other |  |  | 198 |  |  |  | 166 |
Gross deferred tax liabilities |  |  | 22,919 |  |  |  | 18,138 |
Net deferred tax asset |  | $ | 33 |  |  | $ | 1,982 |
The Company’s determination of the realization of deferred tax assets is based on its assessment of all available positive and negative evidence. At December 31, 2016, positive evidence supporting the realization of the deferred tax assets includes the generation of taxable income for the two prior tax years and the reversal of taxable temporary differences. At December 31, 2016, the Company has not identified significant negative evidence related to the realization of its deferred tax assets. At both December 31, 2016 and December 31, 2015, the Company was in a three-year cumulative pre-tax book income position. As noted below, the Company had certain state net operating loss carryforwards at December 31, 2016, and the Company expects to fully utilize these deferred tax assets within the state carryforward periods based on available evidence existing as of the balance sheet date. The Company had state net operating loss carryforwards of approximately $1.2 million and $0.6 million as of December 31, 2016 and 2015, respectively. These carryforwards are available to offset future taxable income. If not used, the current carryforwards will expire between 2030 and 2035. At December 31, 2016, the Company did not have any material uncertain tax positions.

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- 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 Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: 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=65882285&loc=d3e32559-109319 Reference 3: 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=65882285&loc=d3e32718-109319 Reference 4: 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=65882285&loc=d3e32639-109319 Reference 5: 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=65882285&loc=d3e32537-109319 + Details
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