Income Taxes (Tables)

9 Months Ended

Sep. 30, 2014

Income Tax Disclosure [Abstract]

Provision for Income Taxes

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

	Three Months EndedSeptember 30,				Nine Months EndedSeptember 30,
	2014		2013		2014		2013
Federal:
Current	$	80	$	35	$	170	$	102
Deferred		—		—		(1)		—
		80		35		169		102
State:
Current		176		128		376		341
Deferred		1		1		2		2
		177		129		378		343
	$	257	$	164	$	547	$	445

Provision (Benefit) 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 EndedSeptember 30,					Nine Months EndedSeptember 30,
	2014		2013			2014		2013
Provision for income taxes at statutory rate	$	832	$	733		$	2,327	$	2,264
Tax effect of:
Tax-exempt investment income		(5)		(10	)		(16)		(21	)
Change in the beginning of the period balance of the valuation allowance for deferred tax assets allocated to federal income taxes		(760)		(716	)		(2,216)		(2,352	)
Stock-based compensation		3		22			48		193
State income taxes, net of federal income tax benefit and valuation allowance		177		129			378		343
Other		10		6			26		18
	$	257	$	164		$	547	$	445