Taxes On Income (Tables)

12 Months Ended

Dec. 31, 2012

Taxes On Income [Abstract]

Components of taxes on income

	For the Year Ended December 31,
(Dollars in thousands)	2012		2011		2010
Current tax (benefit) expense:
Federal	$	712	$	(18,319)	$	11,852
State		232		(4,875)		694
Deferred tax expense (benefit):
Federal		8,145		(18,375)		(2,455)
State		794		(2,088)		(353)
Taxes on income	$	9,883	$	(43,657)	$	9,738

Reconciliation from the expected tax exense (benefit) to consolidated effective income tax expense (benefit)

	For the Year Ended December 31,
					As Restated
(Dollars in thousands)	2012		2011		2010
Computed tax (benefit) expense at statutory rates	$	9,124	$	(39,183)	$	7,387
Increase (decrease) in income taxes resulting from:
Benefit of income not subject to U.S. Federal income tax		(213)		(165)		(135)
Expenses not deductible for U.S. Federal income tax		150		124		2,150
State income taxes, net of Federal income tax benefit		476		(3,755)		286
Reversal of FIN 48 reserve		-		(953)		-
Texas tax refund (federally tax affected)		50		-		(559)
Other		296		275		609
Taxes on income	$	9,883	$	(43,657)	$	9,738

Temporary differences that give rise to the deferred tax assets

		At December 31,
(Dollars in thousands)		2012		2011
Deferred tax assets:
	Provision for loan losses	$	19,246	$	18,213
	Net operating loss carryforward		12,674		24,705
	Tax credit carryforward		3,070		2,419
	Write-downs on other real estate		1,669		831
	Nonaccrual loan interest		527		321
	Deferred compensation & profit sharing accrual		551		518
	Investments		457		29
Total deferred tax assets			38,194		47,036
Deferred tax liabilities:
	Accumulated depreciation		(2,835)		(3,112)
	Amortizable assets		(749)		(868)
	Dividend - Equity vs. Cost Method		(492)		-
	Prepaid expenses		(254)		(320)
	FHLB stock dividends		(220)		(277)
	Stock-based compensation		(216)		92
	Section 597 gain - FNBA FDIC-assisted acquisition		(119)		(281)
	Other		(51)		(74)
Total deferred tax liabilities			(4,936)		(4,840)
	Deferred taxes (payable) receivable on investment
	securities available for sale		(1,075)		(1,286)
Net deferred tax asset		$	32,183	$	40,910