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9. Income Taxes (Tables)

12 Months Ended

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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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
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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

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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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