Income Taxes (Tables)

6 Months Ended

Jun. 30, 2013

Income Taxes

Schedule of reconciliation of income tax provision (benefit)

The income tax provision differs from the amounts determined by applying the statutory federal income tax rate of 34% to the income before income tax provision for the following reasons (dollars in thousands):

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2013		2012			2013		2012
Income tax provision at statutory rate	$	2,206	$	1,870		$	3,246	$	1,896
Increase (decrease) resulting from:
State income taxes, net of federal income tax	156		200			193		71
Other	176		—			311		—
Valuation allowance	—		(2,090		)	—		(2,119		)
Income tax provision (benefit)	$	2,538	$	(20	)	$	3,750	$	(152	)