Value of Business Acquired

12 Months Ended

Dec. 31, 2011

Business Combinations

Business Acquisition, Integration, Restructuring and Other Related Costs [Text Block]

4)       Value of Business Acquired

Information with regard to value of business acquired is as follows:

	December 31,
	2011			2010			2009
Balance at beginning of year	$	9,017,696		$	10,252,670		$	11,377,276
Value of  business acquired		3,145,116			(515,147	)		246,838
Imputed interest at 7%		701,349			674,463			757,048
Amortization		(1,843,327	)		(1,394,290	)		(2,128,492	)
Net amortization charged to income		(1,141,978	)		(719,827	)		(1,371,444	)
Balance at end of year	$	11,020,834		$	9,017,696		$	10,252,670

Presuming no additional acquisitions, net amortization charged to income is expected to approximate $1,328,000, $1,137,000, $1,016,000, $796,000, and $707,000 for the years 2012 through 2016. Actual amortization may vary based on changes in assumptions or experience. As of December 31, 2011, value of business acquired is being amortized over a weighted average life of 7.9 years.