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9. Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2018
Income Tax Disclosure [Abstract] |
Schedule of income tax expense | Income taxes consist of the following:
|  | Year Ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | (In thousands) |
Current federal tax expense |  | $ | (7,526 | ) |  | $ | 14,369 |  |  | $ | 22,872 |
Current state tax expense |  |  | (2,064 | ) |  |  | 3,305 |  |  |  | 2,671 |
Deferred federal tax expense |  |  | 9,074 |  |  |  | 10,131 |  |  |  | (6,329 | )
Deferred state tax expense |  |  | 4,357 |  |  |  | 501 |  |  |  | 1,147 |
Income tax expense |  | $ | 3,841 |  |  | $ | 28,306 |  |  | $ | 20,361 |
Schedule of reconciliation of income taxes | Income tax expense for the years ended December 31, 2018, 2017 and 2016 differs from the amount determined by applying the statutory federal rate to income before income taxes as follows:
|  | Year Ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | (In thousands) |
Expense at federal tax rate |  | $ | 3,928 |  |  | $ | 11,225 |  |  | $ | 17,381 |
State taxes, net of federal income tax effect |  |  | 1,718 |  |  |  | 1,831 |  |  |  | 2,679 |
Stock-based compensation |  |  | 238 |  |  |  | 682 |  |  |  | 824 |
Non-deductible expenses |  |  | 824 |  |  |  | 171 |  |  |  | 145 |
Effect of change in tax rate |  |  | – |  |  |  | 15,117 |  |  |  | – |
Accounting method change |  |  | (2,100 | ) |  |  | – |  |  |  | – |
Other |  |  | (767 | ) |  |  | (720 | ) |  |  | (668 | )
|  | $ | 3,841 |  |  | $ | 28,306 |  |  | $ | 20,361 |
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, 2018 and 2017 are as follows:
|  | December 31, |
|  | 2018 |  |  | 2017 |
|  | (In thousands) |
Deferred Tax Assets: |  |  |  |  |  |  |  |
Finance receivables |  | $ | 1,867 |  |  | $ | 23,034 |
Accrued liabilities |  |  | 256 |  |  |  | 206 |
NOL carryforwards |  |  | 7,736 |  |  |  | 529 |
Built in losses |  |  | 4,651 |  |  |  | 5,277 |
Pension accrual |  |  | 1,552 |  |  |  | 1,654 |
Stock compensation |  |  | 4,161 |  |  |  | 3,642 |
Other |  |  | 356 |  |  |  | 582 |
Total deferred tax assets |  |  | 20,579 |  |  |  | 34,924 |
Deferred Tax Liabilities: |  |  |  |  |  |  |  |
Deferred loan costs |  |  | (1,137 | ) |  |  | (2,233 | )
Furniture and equipment |  |  | (254 | ) |  |  | (245 | )
Total deferred tax liabilities |  |  | (1,391 | ) |  |  | (2,478 | )
Net deferred tax asset |  | $ | 19,188 |  |  | $ | 32,446 |

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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://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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