Note 6: Investment Securities: Non-Agency Collateralized Mortgage Obligation Policy (Policies)

3 Months Ended

Sep. 30, 2012

Policies

Non-Agency Collateralized Mortgage Obligation Policy

During the nine months ended September 30, 2012, the Company determined that the impairment of a non-agency collateralized mortgage obligation with a book value of $962,000 had become other than temporary.  Consequently, the Company recorded a $262,000 pre-tax charge to income.  During the nine months ended September 30, 2011, the Company determined that the impairment of a non-agency collateralized mortgage obligation with a book value of $1.8 million had become other than temporary.  Consequently, the Company recorded a $400,000 pre-tax charge to income.