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CURRENT YEAR ACCOUNTING CHANGES
6 Months Ended
Jun. 30, 2011
CURRENT YEAR ACCOUNTING CHANGES [Abstract]  
CURRENT YEAR ACCOUNTING CHANGES
NOTE 13 – CURRENT YEAR ACCOUNTING CHANGES

FASB ASC Topic 310, “Receivables.”  New authoritative accounting guidance issued in July 2010 under ASC Topic 310, “Receivables,” required extensive new disclosures surrounding the allowance for loan losses although it did not change any credit loss recognition or measurement rules.  The new rules require disclosures to include a breakdown of allowance for loan loss activity by portfolio segment as well as problem loan disclosures by detailed class of loan.  In addition, disclosures on internal credit grading metrics and information on impaired, nonaccrual, and restructured loans are also required.  The period-end disclosures were effective for financial periods ending December 31, 2010 but deferred presentation of loan loss allowance by loan portfolio segment until the quarter ended March 31, 2011.  PSB adopted the rules for loan loss allowance disclosures by loan segment effective March 31, 2011.