Note 2 - Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2011

Comprehensive Income (Loss) Note [Text Block]

Note 2.                 Comprehensive Income (Loss)

Comprehensive income (loss) is the total of net income and other comprehensive income (loss), which for the Company is comprised entirely of unrealized gains and losses on securities available for sale.

Other comprehensive income (loss) for the years ended December 31, 2011, 2010, and 2009 is comprised as follows:

				Tax
	Before			Expense			Net
	Tax			(Benefit)			of Tax
Year ended December 31, 2011:
Unrealized gains on securities available for sale:
Unrealized holding gains arising during the period	$	7,914,236		$	3,027,910		$	4,886,326
Less reclassification adjustment for gain included in net income		1,353,681			517,904			835,777
Other comprehensive income	$	6,560,555		$	2,510,006		$	4,050,549
Year ended December 31, 2010:
Unrealized gains on securities available for sale:
Unrealized holding gains arising during the period	$	803,133		$	305,140		$	497,993
Less reclassification adjustment for losses included in net income		(113,800	)		(43,236	)		(70,564	)
Other comprehensive income	$	916,933		$	348,376		$	568,557
Year ended December 31, 2009:
Unrealized gains (losses) on securities available for sale:
Unrealized holding (losses) arising during the period	$	(3,953,187	)	$	(1,293,749	)	$	(2,659,438	)
Less reclassification adjustment for net gains included in net income		1,282,022			448,708			833,314
Other comprehensive loss	$	(5,235,209	)	$	(1,742,457	)	$	(3,492,752	)