Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes

Schedule Of Components Of Income Tax Expense (Benefit)

	For the year ended December 31,
(in thousands)	2016		2015		2014
Current tax provision:
Federal tax	$	6,823	$	11,346	$	9,590
State tax		1,374		668		(109)
Total current tax provision		8,197		12,014		9,481
Deferred tax provision (benefit):
Federal tax		3,532		(2,793)		3,375
State tax		453		(248)		513
Net operating loss carryforward		-		633		1,649
Total deferred tax provision (benefit)		3,985		(2,408)		5,537
Provision for income taxes	$	12,182	$	9,606	$	15,018
Provision (benefit) related to discontinued operations	$	-	$	(42)	$	129

Schedule Of Deferred Tax Assets And Liabilities

	At December 31,
(in thousands)	2016		2015
Deferred tax assets:
Allowance for loan and credit losses	$	12,625	$	15,460
Intangible assets		1,403		1,490
Other real estate owned		3,276		3,293
Deferred loan fees		185		295
Other accrued liabilities		1,709		1,268
Stock-based compensation		971		1,186
Interest on nonaccrual loans		216		436
Employee bonus		2,271		2,083
Other		710		1,147
Total deferred tax assets	$	23,366	$	26,658
Deferred tax liabilities:
Deferred initial direct loan costs	$	(1,602)	$	(1,923)
Property, plant and equipment		(1,106)		-
Prepaid assets		(356)		(391)
FHLB stock dividends		(53)		(110)
Investment securities and derivatives		(348)		(2,013)
Total deferred tax liabilities	$	(3,465)	$	(4,437)
Net deferred tax assets	$	19,901	$	22,221

Schedule Of Effective Income Tax Rate Reconciliation

	For the year ended December 31,
(in thousands)	2016		2015		2014
Computed at the statutory rate (35%)	$	16,479	$	12,511	$	15,325
Increase (decrease) resulting from:
State income taxes - net of federal income tax effect		1,241		919		1,336
Tax exempt income		(5,505)		(4,130)		(2,838)
Nondeductible compensation		88		88		496
Meals and entertainment		198		227		233
Excess tax benefit on stock compensation		(291)		-		-
Other - net		(28)		(9)		466
Actual tax provision	$	12,182	$	9,606	$	15,018

Summary Of Income Tax Examinations

Jurisdiction	Tax year
United States	2013
Colorado	2012
Arizona	2012