Income Taxes (Tables)

3 Months Ended

Mar. 31, 2014

Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities were due to the following as of:

	March 31, 2014			December 31, 2013
	(in thousands)
Deferred tax assets:
Net operating loss carry-forward	$	25,719		$	25,460
Allowance for loan losses		8,895			9,843
Other real estate owned write-down		9,658			9,478
Alternative minimum tax credit carry-forward		692			692
Net assets from acquisitions		650			644
Other than temporary impairment on securities		46			89
Net unrealized loss on securities		597			1,067
New market tax credit carry-forward		208			208
Nonaccrual loan interest		879			911
Amortization of non-compete agreements		16			16
Other		1,643			1,640
		49,003			50,048
Deferred tax liabilities:
FHLB stock dividends		928			1,276
Fixed assets		309			333
Originated mortgage servicing rights		69			75
Other		555			570
		1,861			2,254
Net deferred tax assets before valuation allowance		47,142			47,794
Valuation allowance		(47,142	)		(47,794	)
Net deferred tax asset	$	—		$	—