Income Taxes (Tables)

3 Months Ended

Mar. 31, 2014

Income Tax Disclosure [Abstract]

Provision for Income Taxes

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

	Three Months Ended March 31,
	2014		2013
Federal:
Current	$	10	$	26
Deferred		—		—
		10		26
State:
Current		25		66
Deferred		1		1
		26		67
	$	36	$	93

Provision for Income Taxes Differs from Amounts Computed by Applying Statutory Federal Corporate Tax Rate

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

	Three Months Ended March 31,
	2014			2013
Provision for income taxes at statutory rate	$	192		$	741
Tax effect of:
Tax-exempt investment income		(5	)		(5	)
Change in the beginning of the period balance of the valuation allowance for deferred tax assets allocated to federal income taxes		(223	)		(886	)
Stock-based compensation		37			171
State income taxes, net of federal income tax benefit and valuation allowance		26			67
Other		9			5
	$	36		$	93