Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Components of Income Tax Expense Attributable to Continuing Operations

The following table presents components of income tax expense included in the Consolidated Statements of Operations for the years ended December 31 for each of the past three years.

(Dollars in thousands)	Current			Deferred			Total
Year ended December 31, 2013:
Federal	$	4,107		$	(809	)	$	3,298
State		1,422			(321	)		1,101
	$	5,529		$	(1,130	)	$	4,399
Year ended December 31, 2012:
Federal	$	4,520		$	(1,643	)	$	2,877
State		1,063			(500	)		563
	$	5,583		$	(2,143	)	$	3,440
Year ended December 31, 2011:
Federal	$	2,154		$	567		$	2,721
State		(47	)		162			115
Total	$	2,107		$	729		$	2,836

Reconciliation of Income Taxes Computed at Federal Statutory Rate to Actual Effective Rate

The following table presents a reconciliation of income taxes computed at the federal statutory rate to the actual effective rate for the years ended December 31, 2012, 2011, and 2010:

	2013			2012			2011
Income tax at the federal statutory rate		34.00	%		34.00	%		34.00	%
Return to provision adjustment for 2012 taxable gain on sale of subsidiary		6.34	%		0.00	%		0.00	%
State franchise tax, net of federal tax benefit		5.89	%		3.74	%		(0.01	)%
Officer life insurance		(1.47	)%		(1.30	)%		(1.45	)%
Affordable housing credits		(1.80	)%		(1.59	)%		(2.03	)%
Tax-exempt interest		(7.02	)%		(7.74	)%		(7.16	)%
Other		(0.27	)%		2.03	%		3.42	%
Effective Tax Rate		35.67	%		29.14	%		26.77	%

Components of Net Deferred Tax Asset

The following table reflects the effects of temporary differences that give rise to the components of the net deferred tax asset (recorded in other assets on the Consolidated Balance Sheets) as of December 31, 2013 and 2012.

(Dollars in thousands)	2013			2012
Deferred tax assets:
Loan loss reserves	$	6,639		$	5,048
Deferred compensation		2,967			3,019
Unrealized losses other comprehensive income		1,939			652
State franchise taxes		319			317
Other		1,432			1,899
Total deferred tax assets	$	13,296		$	10,935
Deferred tax liabilities:
Deferred state taxes	$	(885	)	$	(776	)
Deferred loan origination costs		(444	)		(428	)
Unrealized gains other comprehensive income		(255	)		(875	)
Depreciation		(59	)		(124	)
Other		0			(121	)
Total deferred tax liabilities	$	(1,643	)	$	(2,324	)
Net deferred tax asset	$	11,653		$	7,959