Note 4 – Comprehensive Income

9 Months Ended

Sep. 30, 2011

Comprehensive Income (Loss) Note [Text Block]

Note 4 – Comprehensive Income

Comprehensive income is the change in the Company’s equity during the period from transactions and other events and circumstances from non-owner sources. Comprehensive income consists of net income (loss) and other comprehensive income (loss). The Company’s other comprehensive income and accumulated other comprehensive income are comprised of unrealized gains and losses on certain investment securities. Information concerning the Company’s total comprehensive income (loss) for the three- and nine-month periods ended September 30, 2011 and 2010 is as follows:

	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2011			2010			2011			2010
	(Dollars in thousands)
Net income (loss)	$	373		$	(272	)	$	1,778		$	10,379
Other comprehensive income (loss):
Investment securities, available for sale:
Unrealized holding gains (losses) arising during period		(70	)		422			806			992
Tax benefit (expense)		27			(163	)		(311	)		(382	)
Reclassification for realized gains included in net income		(110	)		(305	)		(111	)		(349	)
Tax benefit		42			118			43			135
Other comprehensive income (loss)		(111	)		72			427			395
Total comprehensive income (loss)	$	262		$	(200	)	$	2,205		$	10,774