Income Taxes (Tables)

3 Months Ended

Mar. 31, 2013

Components of Income Tax Expense

The following table presents the components of our income tax expense for the following periods (dollars in thousands):

	Three Months Ended March 31,
	2013			2012
Current:
Federal	$	5		$	7
State and local		29			17
Total Current		34			24
Deferred:
Federal	$	—		$	—
State and local		—			—
Total Deferred		—			—
Income tax expense	$	34		$	24
Effective income tax rate		2.8	%		0.6	%