Income Taxes (Tables)

9 Months Ended

Sep. 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						Nine Months Ended
	September 30,						September 30,
	2013			2012			2013		2012
Income tax provision at statutory rate	$	1,303		$	1,843		$	4,549	$	3,739
Increase (decrease) resulting from:
State income taxes, net of federal income tax	(86		)	137			122		208
Other	554			—			850		—
Valuation allowance	—			(2,174		)	—		(4,293		)
Income tax provision (benefit)	$	1,771		$	(194	)	$	5,521	$	(346	)