Income Taxes (Tables)

6 Months Ended

Jun. 30, 2012

Income Taxes [Abstract]

The provision (benefit) for income taxes

The provision (benefit) for income taxes consisted of the following (in thousands).

	Three Months Ended June  30,					Six Months Ended June  30,
	2012			2011		2012			2011
Federal:
Current	$	—		$	—	$	—		$	—
Deferred		—			—		—			—
		—			—		—			—
State:
Current		(262	)		258		(184	)		55
Deferred		—			1		1			(98	)
		(262	)		259		(183	)		(43	)
	$	(262	)	$	259	$	(183	)	$	(43	)

The provision (benefit) for income taxes differs from the amounts computed by applying the statutory federal corporate tax rate

The provision (benefit) for income taxes differs from the amounts computed by applying the statutory federal corporate tax rate of 35% to loss before income taxes as a result of the following (in thousands).

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Benefit for income taxes at statutory rate	$	(1,565	)	$	(18,625	)	$	(4,409	)	$	(19,294	)
Tax effect of:
Tax-exempt investment income		(1	)		(4	)		(2	)		(7	)
Change in the beginning of the period balance of the valuation allowance for deferred tax assets allocated to federal income taxes		1,545			3,775			4,372			4,331
Net operating loss carryforward expirations		—			735			—			735
Goodwill and identifiable intangible assets		—			14,084			—			14,084
Restricted stock		1			31			13			167
State income taxes, net of federal income tax benefit and valuation allowance		(262	)		259			(183	)		(43	)
Other		20			4			26			(16	)
	$	(262	)	$	259		$	(183	)	$	(43	)