Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Reconciliation of Income Tax Provision (Benefit)

A reconciliation of the provision (benefit) for income taxes and the amount that would have been provided at statutory rates is as follows:

	Years Ended December 31,
(in thousands)	2012			2011			2010
Provision (benefit) at statutory rate on pretax income (loss)	$	5,533		$	(392	)	$	(3,017	)
Tax-exempt income on loans and investments	(1,390		)	(1,314		)	(1,446		)
Exercise of nonqualified stock options	—			—			(25		)
Stock-based compensation	203			222			209
Merger related expenses	—			—			(358		)
Civil money penalty	525			—			—
Other	43			40			101
Total	$	4,914		$	(1,444	)	$	(4,536	)

Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) are as follows: 

	Years Ended December 31,
(in thousands)	2012		2011			2010
Current expense	$	4,796	$	67		$	236
Deferred expense (benefit)	118		(1,511		)	(4,772		)
Total	$	4,914	$	(1,444	)	$	(4,536	)

Schedule of Deferred Tax Assets and Liabilities

The components of the net deferred tax asset were as follows:

	December 31,
(in thousands)	2012			2011
Deferred tax assets:
Allowance for loan losses	$	8,596		$	7,351
Other-than-temporary losses	—			1,003
Stock-based compensation	1,094			923
Nonaccrual interest	1,605			2,002
Foreclosed real estate write-downs	—			703
Income from LLC subsidiary	—			254
Other	447			486
Total deferred tax assets	11,742			12,722
Deferred tax liabilities:
Premises and equipment	(3,762		)	(4,486		)
Unrealized gains on securities	(3,730		)	(1,965		)
Prepaid expenses	(254		)	(395		)
Deferred loan fees	(971		)	(968		)
Total deferred tax liabilities	(8,717		)	(7,814		)
Net deferred tax asset	$	3,025		$	4,908