Quarterly report pursuant to Section 13 or 15(d)

INCOME TAXES (Tables)

v3.3.0.814
INCOME TAXES (Tables)
9 Months Ended
Sep. 30, 2015
Income Tax Disclosure [Abstract]  
Schedule of provisions for income taxes
The provision for income taxes (including discontinued operations) consists of the following:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2015
 
2014
 
2015
 
2014
Current:
 
 
 
 
 
 
 
Federal
$
996

 
$
129

 
$
1,076

 
$
718

State and Local
269

 
29

 
289

 
194

Total Current Provision
$
1,265

 
$
158

 
$
1,365

 
$
912

Deferred:
 
 
 
 
 
 
 
Federal
$
(7
)
 
$
155

 
$
(30
)
 
$
(159
)
State and Local
(1
)
 
21

 
(5
)
 
(499
)
Total Deferred Provision
$
(8
)
 
$
176

 
$
(35
)
 
$
(658
)
 
 
 
 
 
 
 
 
Total Provision for Income Taxes
$
1,257

 
$
334

 
$
1,330

 
$
254

Provision for income taxes from continuing operations
$
1,257

 
$

 
$
1,330

 
$
144

Provision for income taxes from discontinued operations
$

 
$
334

 
$

 
$
110

Schedule of deferred tax assets and liabilities
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of September 30, 2015 are presented below:
 
September 30, 2015
 
December 31, 2014
Deferred tax assets:
 
 
 
Allowance for loan losses
$
397

 
$
366

Depreciation and amortization
32,593

 
13,938

Accrued expenses
1,660

 
2,006

Net operating losses
21,289

 
26,543

Other
159

 
2,365

Total deferred tax assets
56,098

 
45,218

Less valuation allowance
(39,908
)
 
(27,434
)
Net deferred tax assets
$
16,190

 
$
17,784

Deferred tax liabilities:
 
 
 
Leaseholds
16,111

 
17,741

Total deferred tax liabilities
$
16,111

 
$
17,741

Net deferred income tax assets (A)
$
79

 
$
43