Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

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)	2013			2012			2011
Provision (benefit) at statutory rate on pretax income (loss)	$	8,601		$	5,533		$	(392	)
Tax-exempt income on loans and investments	(1,498		)	(1,390		)	(1,314		)
Stock-based compensation	162			203			222
Civil money penalty	—			525			—
Other	51			43			40
Total	$	7,316		$	4,914		$	(1,444	)

Components of Income Tax Expense (Benefit)

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

	Years Ended December 31,
(in thousands)	2013		2012		2011
Current expense	$	7,179	$	4,796	$	67
Deferred expense (benefit)	137		118		(1,511		)
Total	$	7,316	$	4,914	$	(1,444	)

Schedule of Deferred Tax Assets and Liabilities

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

	December 31,
(in thousands)	2013			2012
Deferred tax assets:
Allowance for loan losses	$	8,089		$	8,596
Unrealized losses on securities	8,893			—
Stock-based compensation	1,295			1,094
Nonaccrual interest	1,330			1,605
Other	902			447
Total deferred tax assets	20,509			11,742
Deferred tax liabilities:
Premises and equipment	(3,599		)	(3,762		)
Unrealized gains on securities	—			(3,730		)
Prepaid expenses	(353		)	(254		)
Deferred loan fees	(1,046		)	(971		)
Total deferred tax liabilities	(4,998		)	(8,717		)
Net deferred tax asset	$	15,511		$	3,025