Income Taxes (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Components of Income Tax Provision

The income tax (benefit) provision for the three months ended March 31, 2022 and 2021, respectively, is comprised of the following components (dollar amounts in thousands):


	Three Months Ended March 31,
	2022		2021
Current income tax expense	$	65	$	213
Deferred income tax benefit	(87)		(147)
Total income tax (benefit) provision	$	(22)	$	66

Schedule of Deferred Tax Assets and Liabilities

The major sources of temporary differences included in the deferred tax assets (liabilities) and their deferred tax effect as of March 31, 2022 and December 31, 2021, respectively, are as follows (dollar amounts in thousands):


	March 31, 2022		December 31, 2021
Deferred tax assets
Net operating loss carryforward	$	3,144	$	3,615
Capital loss carryover	7,631		7,549
GAAP/Tax basis differences	1,361		254
Total deferred tax assets (1)	12,136		11,418
Deferred tax liabilities
GAAP/Tax basis differences	6,004		6,681
Total deferred tax liabilities (2)	6,004		6,681
Valuation allowance (1)	(6,442)		(5,136)
Total net deferred tax liability	$	(310)	$	(399)

(1)Included in other assets in the accompanying condensed consolidated balance sheets.

(2)Included in other liabilities in the accompanying condensed consolidated balance sheets.