Note 3 – Statement of Other Comprehensive Income (Loss)

Other comprehensive income (loss) (or “OCI”) is comprised of unrealized gains or losses on securities available for sale as required by FASB ASC 320 and pension liability adjustments as required by FASB ASC 715. A drop from 6.75 percent to 5.50 percent in the discount rate as determined on an actuarial basis resulted in a projected increase in benefit funding obligations and pension liability and resulted in a $1.9 million pension liability adjustment and a related $1.9 million increase in the loss reported in September 2009 that carried through to March 2010. There was also a drop in the discount rate from 5.5% to 5.25% in 2010. That drop was offset by changes in assumptions in the rate of compensation increase from 4.5% to 3% and fund performance that resulted in a $679,023 OCI gain for the period ending September 30, 2010. The quarterly accruals for estimated annual pension liability added to the unrealized loss on securities available for sale for the current quarter resulted in an OCI loss of $406,817 for the nine months ended June 30, 2011.

	June 30,			June 30,			September 30,
	2011			2010			2010
Pension adjustment		(2,656,100	)		(3,020,510	)		(2,282,303	)
Net unrealized gain(loss) on securities available for sale		9,431			(33,764	)		42,451
Accumulated other comprehensive loss		(2,646,669	)		(3,054,274	)		(2,239,852	)