Note 5 - Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2014

Disclosure Text Block [Abstract]

Comprehensive Income (Loss) Note [Text Block]

5. Accumulated Other Comprehensive Income

The following table sets forth our changes in accumulated other comprehensive income:

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2014		2013			2014			2013
	(Dollars in thousands)
Unrealized gains (losses) on available-for-sale marketable securities 1 :
Beginning balance	$	3,609	$	7,373		$	7,655		$	4,838
Other comprehensive income before reclassifications		1,633		(5,274	)		1,600			(3,053	)
Amounts reclassified from accumulated other comprehensive income 2		104		(1,215	)		(3,909	)		(901	)
Ending balance	$	5,346	$	884		$	5,346		$	884
Unrealized gains on available-for-sale metropolitan district bond securities 1 :
Beginning balance	$	3,920	$	-		$	3,920		$	-
Other comprehensive income before reclassifications		590		4,494			590			4,494
Amounts reclassified from accumulated other comprehensive income		-		-			-			-
Ending balance	$	4,510	$	4,494		$	4,510		$	4,494
Total ending accumulated other comprehensive income	$	9,856	$	5,378		$	9,856		$	5,378

^1. All amounts net-of-tax.

^2. See separate table below for details about these reclassifications.

The following table sets forth the activity related to reclassifications out of accumulated other comprehensive income (loss) related to available for sale securities:

	Three Months Ended					Six Months Ended
	June 30,					June 30,
Affected Line Item in the Statements of Operations	2014			2013		2014			2013
	(Dollars in thousands)
Homebuilding interest and other income	$	(176	)	$	1,166	$	6,361		$	871
Financial services interest and other income		7			49		(5	)		30
Income before income taxes		(169	)		1,215		6,356			901
Benefit from (provision for) income taxes		65			-		(2,447	)		-
Net income	$	(104	)	$	1,215	$	3,909		$	901