Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes

Schedule of components of income taxes

	2013			2012		2011
	(in thousands)
Current income tax provision:
Federal	$	7,008		$	6,403	$	3,781
State	2,329			2,026		1,386
Total current income tax provision	9,337			8,429		5,167
Deferred income tax provision (benefit):
Federal	(3,129		)	1,262		899
State	(621		)	298		345
Total deferred income tax provision (benefit)	(3,750		)	1,560		1,244
Total income tax provision	$	5,587		$	9,989	$	6,411

Schedule of reconciliation from statutory federal income taxes to the Company's effective income taxes

	2013			2012			2011
	(in thousands)
Statutory federal income tax provision	$	5,103		$	8,760		$	5,774
California franchise tax, net of federal income tax effect	1,027			1,842			1,214
Other, including tax exempt income	(543		)	(613		)	(577		)
Total income tax provision	$	5,587		$	9,989		$	6,411

Schedule of deferred tax assets (liabilities) comprised of the temporary differences between the financial statement carrying amounts and the tax basis of assets

	2013			2012
	(in thousands)
Deferred tax assets:
Accrued expenses	$	891		$	442
Net operating loss	3,353			3,673
Allowance for loan losses, net of bad debt charge-offs	3,336			3,390
Directors deferred compensation	1,896			—
Unrealized loss on available for sale securities	2,160			—
State taxes	858			765
Capital loss on mutual funds	—			281
Other-than-temporary impairment	684			2,180
Restricted stock and options expense	6			6
Other	—			147
Total deferred tax assets	13,184			10,884
Deferred tax liabilities:
Federal Home Loan Bank stock dividends	(306		)	(560		)
Deferred FDIC gain	(1,944		)	(2,367		)
Core deposit intangibles	(1,813		)	—
Depreciation	(216		)	(111		)
Unrealized gain on available for sale securities	—			(772		)
Other	(428		)	(187		)
Total deferred tax liabilities	(4,707		)	(3,997		)
Net deferred tax asset	$	8,477		$	6,887