Three Months Ended

Six Months Ended

June 30,

2012

2011

2012

2011

Computed "expected" tax benefit

$

(2,107

)

$

(1,870

)

$

(1,722

)

$

(1,310

)

Increase (decrease) in income taxes resulting from:

Tax-exempt income

(175

)

(300

)

(382

)

(610

)

State income tax, net of federal tax effect

(264

)

(692

)

(229

)

(627

)

Bank-owned life insurance income

(82

)

(77

)

(164

)

(155

)

Change in valuation allowance

2,577

0

2,469

0

Other, net

51

364

81

(39

)

Actual tax expense (benefit)

$

-

$

(2,575

)

$

53

$

(2,663

)