Income Taxes

9 Months Ended

Sep. 30, 2012

Income Taxes [Abstract]

Income Taxes

Note 22 – Income Taxes

The provisions for income taxes applicable to income before taxes differ from amounts computed by applying the statutory Federal income tax rates to income before taxes. The effective tax rate and the statutory federal income tax rate are reconciled for the periods indicated as follows:

	Three months ended September 30,						Nine months ended September 30,
	2012			2011			2012			2011
Federal statutory income tax rate		35.0	%		35.0	%		35.0	%		35.0	%
State income taxes, net of federal tax benefit		6.9	%		6.8	%		6.6	%		6.3	%
Tax-exempt interest on municipal obligations		(0.4	%)		(0.4	%)		(0.5	%)		(0.7	%)
Increase in cash value of insurance policies		(1.8	%)		(1.5	%)		(2.0	%)		(2.4	%)
Other		2.2	%		0.1	%		0.9	%		0.1	%
Effective Tax Rate		41.9	%		40.0	%		40.0	%		38.3	%