Taxes On Income (Tables)

12 Months Ended

Dec. 31, 2013

Taxes On Income [Abstract]

Components of taxes on income

	For the Year Ended December 31,
(Dollars in thousands)	2013		2012		2011
Current tax (benefit) expense:
Federal	$	462	$	712	$	(18,319)
State		74		232		(4,875)
Deferred tax expense (benefit):
Federal		9,362		8,145		(18,375)
State		858		794		(2,088)
Taxes on income	$	10,756	$	9,883	$	(43,657)

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

	For the Year Ended December 31,
(Dollars in thousands)	2013		2012		2011
Computed tax (benefit) expense at statutory rates	$	9,867	$	9,124	$	(39,183)
Increase (decrease) in income taxes resulting from:
Benefit of income not subject to U.S. Federal income tax		(213)		(213)		(165)
Expenses not deductible for U.S. Federal income tax		96		150		124
State income taxes, net of Federal income tax benefit		749		476		(3,755)
Reversal of FIN 48 reserve		-		-		(953)
State payment or refund from prior periods (federally tax affected)		-		50		-
Tax credit recapture		76		-		-
Other		181		296		275
Taxes on income	$	10,756	$	9,883	$	(43,657)

Temporary differences that give rise to the deferred tax assets

		At December 31,
(Dollars in thousands)		2013		2012
Deferred tax assets:
	Provision for loan losses	$	15,072	$	19,246
	Net operating loss carryforward		5,065		12,674
	Tax credit carryforward		3,443		3,070
	Write-downs on other real estate		-		1,669
	Nonaccrual loan interest		539		527
	Deferred compensation & profit sharing accrual		173		551
	Investments		468		457
	Section 597 gain - FDIC-assisted acquisition		1,214		(119)
	Accrued Expenses		812		-
	Other		43		(51)
Total deferred tax assets			26,829		38,024
Deferred tax liabilities:
	Accumulated depreciation		(2,476)		(2,835)
	Amortizable assets		(614)		(749)
	Dividend - Equity vs. Cost Method		(316)		(492)
	Prepaid expenses		(188)		(254)
	FHLB stock dividends		(192)		(220)
	Stock-based compensation		(6)		(216)
Total deferred tax liabilities			(3,792)		(4,766)
	Deferred taxes (payable) receivable on investment
	securities available for sale		1,900		(1,075)
Net deferred tax asset		$	24,937	$	32,183