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9. Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of income tax expense

Income taxes consist of the following:

		Year Ended December 31,
		2017				2016				2015
		(In thousands)
Current federal tax expense		$	14,369			$	22,872			$	18,653
Current state tax expense			3,305				2,671				1,146
Deferred federal tax expense			10,131				(6,329	)			4,233
Deferred state tax expense			501				1,147				2,669
Income tax expense		$	28,306			$	20,361			$	26,701

Schedule of reconciliation of income taxes

Income tax expense for the years ended December 31, 2017, 2016 and 2015 differs from the amount determined by applying the statutory federal rate of 35% to income before income taxes as follows:

		Year Ended December 31,
		2017				2016				2015
		(In thousands)
Expense at federal tax rate		$	11,225			$	17,381			$	21,484
State taxes, net of federal income tax effect			1,831				2,679				3,235
Stock-based compensation			682				824				1,560
Non-deductible expenses			171				145				107
Effect of change in tax rate			15,117				–				–
Other			(720	)			(668	)			315
		$	28,306			$	20,361			$	26,701

Schedule of deferred tax assets and liabilities

The tax effected cumulative temporary differences that give rise to deferred tax assets and liabilities as of December 31, 2017 and 2016 are as follows:

		December 31,
		2017				2016
		(In thousands)
Deferred Tax Assets:
Finance receivables		$	23,034			$	28,986
Accrued liabilities			206				2,322
NOL carryforwards			529				1,697
Built in losses			5,277				8,915
Pension accrual			1,654				2,107
Stock compensation			3,642				–
Other			582				2,343
Total deferred tax assets			34,924				46,370
							$
Deferred Tax Liabilities:			$
Deferred loan costs			(2,233	)			(3,223	)
Furniture and equipment			(245	)			(302	)
Total deferred tax liabilities			(2,478	)			(3,525	)
							$
Net deferred tax asset		$	32,446			$	42,845

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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=84230637&loc=d3e32639-109319

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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=84230637&loc=d3e32537-109319

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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=84230637&loc=d3e32687-109319

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