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Income Taxes
9 Months Ended
Sep. 30, 2012
Income Taxes [Abstract]  
Income Taxes
Note 7 Income Taxes

The provision for income taxes for the three and nine months ended September 30, 2012 and 2011 consists of federal, state and city income taxes. During 2011, the Company and its subsidiaries fully utilized the capital loss carry forward outstanding from December 31, 2010. As of September 30, 2012, there was no capital loss carry forward outstanding. During the third quarter of 2012, the Company determined it was entitled to a $3.9 million tax deduction related to dividends paid on unvested restricted stock. The resulting tax benefit of $1.4 million was recorded as a reduction of income taxes payable and an increase in shareholders’ equity.