Southern Connecticut Bancorp (Southern Connecticut Bancorp) Tax Expense : $0.00 Mil (TTM As of Mar. 2013)

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What is Southern Connecticut Bancorp Tax Expense?

Southern Connecticut Bancorp's tax expense for the months ended in Mar. 2013 was $0.00 Mil. Its tax expense for the trailing twelve months (TTM) ended in Mar. 2013 was $0.00 Mil.

Southern Connecticut Bancorp Tax Expense Historical Data

The historical data trend for Southern Connecticut Bancorp's Tax Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Southern Connecticut Bancorp Tax Expense Chart

Southern Connecticut Bancorp Annual Data

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Southern Connecticut Bancorp Quarterly Data
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Southern Connecticut Bancorp Tax Expense Calculation

Tax paid by the company. It is computed in by multiplying the income before tax number, as reported to shareholders, by the appropriate tax rate. In reality, the computation is typically considerably more complex due to things such as expenses considered not deductible by taxing authorities ("add backs"), the range of tax rates applicable to various levels of income, different tax rates in different jurisdictions, multiple layers of tax on income, and other issues.

Tax Expense for the trailing twelve months (TTM) ended in Mar. 2013 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.00 Mil.

Southern Connecticut Bancorp (DELISTED:SSE) Tax Expense Explanation

In the long run, income before tax and taxable income will likely be more similar than they are in any given period. If the one is less in earlier years, then it will be greater in later years. Deferred taxes will reverse themselves in the long run and in total will zero out, unless there is something like a change in tax rates in the intervening period. A deferred tax payable results from a tax break in the early years and will reverse itself in later years; a deferred tax receivable results from more taxes being paid in early years than the tax expense reported to shareholders and will again reverse itself in later years. The deferred tax amount is computed by estimating the amount and the timing of the reversal and multiplying that by the appropriate tax rates.

Southern Connecticut Bancorp Tax Expense Related Terms

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Southern Connecticut Bancorp (Southern Connecticut Bancorp) Business Description

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Southern Connecticut Bancorp, Inc., a Connecticut corporation was incorporated on November 8, 2000. It is a bank holding company The Company owns 100% of the capital stock of The Bank of Southern Connecticut (the 'Bank'), a Connecticut-chartered bank. The Bank operates branches at four locations, including downtown New Haven, the Amity/Westville section of New Haven, Branford and North Haven. It focuses on serving the banking needs of small to medium-sized businesses, professionals and professional corporations, and their owners and employees in the Greater New Haven Market. The Bank offers loans to businesses and individuals in its service area, including commercial and business loans, industrial loans, personal loans, commercial and home mortgage loans, home equity loans and automobile loans. The Bank has attracted a base of core deposits, including interest bearing and non-interest bearing checking accounts, money market accounts, savings accounts, sweep accounts, NOW accounts, repurchase agreements, and a variety of certificates of deposits and IRA accounts. The primary sources of deposits have been and are expected to continue to be small to medium-sized businesses, professionals (lawyers, doctors, accountants, etc.) and professional corporations, and their owners and employees. The Bank obtains these deposits through personal solicitation by its officers and directors, outside programs and advertisements published and/or broadcasted in the local media. It offers internet-banking services to its customers, including commercial cash management services and personal banking services. The Bank offers remote deposit capture, which offers check deposit capabilities for customers from their place of business. It also offers drive-in teller services, automated teller services, wire transfer, lock box and safe deposit services. The Bank provides a range of other services and products, including cashier's checks, money orders, travelers' checks, bank-by-mail, direct deposit and U.S. Savings Bonds. It is associated with a shared network of automated teller machines that its customers are able to use throughout Connecticut and other regions. The Company operates in a heavily regulated industry and is subject to increasing regulatory review and scrutiny from the Federal Reserve Board, the Connecticut Banking Commissioner, and the FDIC. There are numerous banks and other financial institutions serving the Greater New Haven Market posing significant competition to attract deposits and loans. The Banks and bank holding companies are extensively regulated under both federal and state law.

Southern Connecticut Bancorp (Southern Connecticut Bancorp) Headlines

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