Income Taxes (Tables)

3 Months Ended

Mar. 31, 2016

Income Taxes

Schedule of reconciliation of income tax expense

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
	March 31,
	2016		2015
Income tax at federal rate	$	88	$	540
Increase (decrease) resulting from:
State income taxes, net of federal income tax		12		67
Permanent difference for compensation limitation		—		124
Expense reflected in tax basis		16		—
Other permanent differences		4		106
Capital goods excise tax credit		(14)		(223)
Total income tax provision	$	106	$	614