Note C - Investments Available for Sale

12 Months Ended

Dec. 31, 2012

Available For Sale Investments [Text Block]

NOTE C – INVESTMENTS AVAILABLE FOR SALE

The Company’s investments are classified as available for sale and are stated at fair value.  The Company’s investments available for sale at December 31 were as follows (in thousands):

	2011
Corporate Notes and Bonds	$	2,024
Accrued interest income		33
Total investments available for sale	$	2,057

The Company capitalized any premiums paid or discounts received and amortized the premiums or accreted the discounts on a straight-line basis over the remaining term of the security.  At December 31 gross unrealized losses were as follows (in thousands):

	2011
Gross unrealized holding losses	$	3

For the years ended December 31 the change in comprehensive income was as follows (in thousands):

	2012		2011			2010
Increase/(Decrease) in comprehensive income	$	1	$	(62	)	$	36

The Company received proceeds from the sale of investments available for sale and realized gain on sale for the years ended December 31 as follows (in thousands):

	2012		2011		2010
Proceeds from sale of investments available for sale	$	1,013	$	25,852	$	6,002
Realized gain on sale of investments available for sale		0		13		0

Realized gains are recognized using the actual cost of the investment.