Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Current and deferred income tax expense (benefit)

Current and deferred income tax expense (benefit) provided for the years ended December 31 consisted of the following:

(in thousands)	2012			2011			2010
Current
Federal	$	12,252		$	10,168		$	10,115
State		4,281			3,734			3,931
Total Current		16,533			13,902			14,046
Deferred
Federal		(2,041	)		(685	)		(1,323	)
State		(507	)		(575	)		(554	)
Total Deferred		(2,548	)		(1,260	)		(1,877	)
Total Provision for Taxes	$	13,985		$	12,642		$	12,169

Total provision for income taxes reconciliation with federal statutory rate

The total provision for income taxes differs from the federal statutory rate as follows:

	2012						2011						2010
(in thousands)	Amount			Rate			Amount			Rate			Amount			Rate
Tax Provision at Federal Statutory Rate	$	13,067			35.0	%	$	12,198			35.0	%	$	11,650			35.0	%
Interest on Obligations of States and Political
Subdivisions exempt from Federal Taxation		(917	)		(2.5	%)		(884	)		(2.5	%)		(943	)		(2.8	%)
State and Local Income Taxes, Net of Federal Income
Tax Benefit		2,453			6.6	%		2,053			5.9	%		2,195			6.60	%
Bank Owned Life Insurance		(675	)		(1.8	%)		(663	)		(1.9	%)		(664	)		(2.0	%)
Other, Net		57			0.2	%		(62	)		(0.2	%)		(69	)		(0.2	%)
Total Provision for Taxes	$	13,985			37.5	%	$	12,642			36.3	%	$	12,169			36.6	%

Components of net deferred tax assets

The components of net deferred tax assets as of December 31 are as follows:

(in thousands)	2012		2011
Deferred Tax Assets
Allowance for Loan Losses	$	14,446		$13,942
Accrued Liabilities		6,283		5,766
Deferred Compensation		7,015		5,712
State Franchise Tax		1,498		1,307
Capital Loss Carry Forward		210		210
Interest on Non-Accrual Loans		96		162
ORE Writedown and Holding Costs		1,852		1,841
Total Deferred Tax Assets	$	31,400		$28,940
Deferred Tax Liabilities
Premises and Equipment		(415)		(639)
Securities Accretion		(996)		(875)
Unrealized Gain on Securities Available-for-Sale		(5,078)		(3,386)
Other		(763)		(748)
Total Deferred Tax Liabilities		(7,252)		(5,648)
Net Deferred Tax Assets	$	24,148		$23,292