Note 5 - Accumulated Other Comprehensive Income

9 Months Ended

Sep. 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						Nine Months Ended
	September 30,						September 30,
	2016			2015			2016		2015
	(Dollars in thousands)
Unrealized gains (losses) on available-for-sale marketable securities (1) :
Beginning balance	$	5,344		$	1,589		$	3,657	$	2,775
Other comprehensive income (loss) before reclassifications		1,156			(2,853	)		2,559		(3,753	)
Amounts reclassified from AOCI (2)		(201	)		1,714			83		1,428
Ending balance	$	6,299		$	450		$	6,299	$	450
Unrealized gains on available-for-sale metropolitan district bond securities (1) :
Beginning balance	$	13,214		$	9,814		$	12,058	$	7,680
Other comprehensive income before reclassifications		73			913			1,229		3,047
Ending balance	$	13,287		$	10,727		$	13,287	$	10,727
Total ending AOCI	$	19,586		$	11,177		$	19,586	$	11,177

(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						Nine Months Ended
	September 30,						September 30,
Affected Line Item in the Statements of Operations	2016			2015			2016			2015
	(Dollars in thousands)
Homebuilding: Interest and other income	$	555		$	(620	)	$	817		$	(495	)
Homebuilding: Other-than-temporary impairment of marketable securities		(215	)		(2,176	)		(934	)		(2,176	)
Financial services: Interest and other income		94			31			94			368
Financial services: Other than temporary impairment of marketable securities		(111	)		-			(111	)		-
Income before income taxes		323			(2,765	)		(134	)		(2,303	)
Provision for income taxes		(122	)		1,051			51			875
Net income	$	201		$	(1,714	)	$	(83	)	$	(1,428	)