Income Taxes

9 Months Ended

Sep. 30, 2011

Income Taxes

17. Income Taxes

Our effective income tax rate for the nine months ended September 30, 2011 was 44.8%, which varied from the statutory income tax rate primarily as a result of our tax exempt income increasing the tax benefit from our pre-tax loss and the recognition of a tax benefit related to the disposal of certain securities. Our effective income tax rate for the nine months ended September 30, 2010 was 23.5%, which varied from the statutory income tax rate primarily due to tax exempt income and the recognition of a tax benefit related to the disposal of certain securities.