Repossessed Assets Acquired In Settlement Of Loans

12 Months Ended

Mar. 31, 2012

Repossessed Assets Acquired In Settlement Of Loans:

Repossessed Assets Acquired In Settlement Of Loans

(8) Repossessed Assets Acquired In Settlement Of Loans

The Bank owned $14.2 million and $14.4 million in repossessed assets acquired in settlement of loans at March 31, 2012 and 2011, respectively. Transactions in repossessed assets for the years ended March 31, 2012, 2011 and 2010 are summarized below:

	March 31,
		2012		2011		2010
Balance, Beginning Of Year	$	14,433,853	$	10,773,050	$	1,985,172
Additions		4,276,679		15,581,977		10,573,654
Capital Improvements		36,877		549,458		-
Sales		(3,978,390)		(11,061,070)		(1,281,196)
Write Downs		(608,920)		(1,409,562)		(504,580)
Balance, End Of Year	$	14,160,099	$	14,433,853	$	10,773,050