Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

The income tax (benefit) expense for the years ended December 31, 2016, 2015 and 2014 consists of the following:

SUMMARY OF INCOME TAX (BENEFIT) EXPENSE

Items that gave rise to significant portions of the deferred tax accounts at December 31, 2016 and 2015 are as follows:

DETAILS OF DEFERRED TAX ASSET, NET

December 31,	2016			2015
Deferred tax asset:
Allowance for loan losses	$	6,598		$	7,613
Impairments realized on investment securities		490			490
Fixed assets		2,502			3,002
Net operating loss carry forwards		110,271			111,335
Unrealized loss on investment securities		1,774			1,210
Alternative minimum tax credits		2,145			2,078
Other		6,315			6,270
Total deferred tax asset before valuation allowance		130,095			131,998
Less: valuation allowance		(73,186	)		(128,793	)
Deferred tax liability:
Goodwill amortization		3,854			2,734
Deferred loan costs		1,193			1,700
Other		289			295
Total deferred tax liability		5,336			4,729
Net deferred tax asset (liability)	$	51,573		$	(1,524	)

The provision for income taxes differs from that computed at the statutory rate as follows:

RECONCILIATION OF FEDERAL STATUTORY INCOME TAX

Years Ended December 31,	2016						2015						2014
	Amount			%			Amount			%			Amount			%
Income (loss) before income taxes	$	9,022					$	11,417					$	(28,491	)
Tax computed at statutory rate		3,067			34.0	%		3,996			35.0	%		(9,972	)		35.0	%
Increase (decrease) in charge resulting from:
State taxes, net of federal benefit		72			0.8			804			7.0			(1,606	)		5.6
Tax exempt interest, net		(10	)		(0.1	)		(309	)		(2.7	)		(469	)		1.7
BOLI		(657	)		(7.3	)		(715	)		(6.3	)		(664	)		2.3
Valuation allowance		(55,003	)		(609.6	)		(3,853	)		(33.7	)		13,297			(46.7	)
Other, net		136			1.5			1,274			11.2			731			(2.5	)
Total income tax (benefit) expense	$	(52,395	)		(580.7	)%	$	1,197			10.5	%	$	1,317			(4.6	)%