Note 5 - Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

5

.            

Accumulated

Other Comprehensive Income

The following table sets forth our changes in accumulated other comprehensive income (“AOCI”):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2016			2015			2016		2015
	(Dollars in thousands)
Unrealized gains (losses) on available-for-sale marketable securities 1 :
Beginning balance	$	5,016		$	3,142		$	3,657	$	2,775
Other comprehensive income (loss) before reclassifications		880			(1,260	)		1,404		(900	)
Amounts reclassified from AOCI 2		(552	)		(293	)		283		(286	)
Ending balance	$	5,344		$	1,589		$	5,344	$	1,589
Unrealized gains on available-for-sale metropolitan district bond securities 1 :
Beginning balance	$	12,647		$	8,621		$	12,058	$	7,680
Other comprehensive income before reclassifications		567			1,193			1,156		2,134
Amounts reclassified from AOCI		-			-			-		-
Ending balance	$	13,214		$	9,814		$	13,214	$	9,814
Total ending AOCI	$	18,558		$	11,403		$	18,558	$	11,403

 

(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 related to available for sale securities:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
Affected Line Item in the Statements of Operations	2016			2015			2016			2015
	(Dollars in thousands)
Homebuilding interest and other income	$	1,177		$	137		$	262		$	125
Other-than-temporary impairment of marketable securities		(288	)		-			(719	)		-
Financial services interest and other income		-			336			-			337
Income before income taxes		889			473			(457	)		462
Provision for income taxes		(337	)		(180	)		174			(176	)
Net income	$	552		$	293		$	(283	)	$	286