QUARTERLY DATA (Tables)

12 Months Ended

Dec. 31, 2014

QUARTERLY DATA (Tables):

Schedule of Quarterly Financial Information

NOTE 11.     QUARTERLY DATA

The following is a table of quarterly results of operations for the years 2014, 2013 and 2012:

	Three Months Ended 2014
	March 31,			June 30,			September 30,			December 31,
	(dollars in thousands, except per share amounts)
2014
Rental and other property revenues	$	-		$	-		$	-		$	-
Total operating expenses		390			363			380			385
Operating loss		(390	)		(363	)		(380	)		(385	)
Other income, net of other expenses		949			1,058			1,003			1,013
Income before gain on land sales, non-contolling interest, and taxes		559			695			623			628
Gain on land sales		-			-			-			-
Income tax expense		-			-			-			(946	)
Net income (loss) from continuing operations		559			695			623			(318	)
Net income (loss) from discontinued operations		-			-			-			-
Net income (loss)	$	559		$	695		$	623		$	(318	)
PER SHARE DATA
Earnings per share - basic
Income (loss) from continuing operations	$	0.13		$	0.17		$	0.15		$	(0.08	)
Income (loss) from discontinued operations		-			-			-			-
Net income (loss) applicable to common shares	$	0.13		$	0.17		$	0.15		$	(0.08	)
Weighted average common shares used in computing earnings per share		4,168,214			4,168,214			4,168,214			4,168,214
Earnings per share - diluted
Income (loss) from continuing operations	$	0.13		$	0.17		$	0.15		$	(0.08	)
Income (loss) from discontinued operations		-			-			-			-
Net income (loss) applicable to common shares	$	0.13		$	0.17		$	0.15		$	(0.08	)
Weighted average common shares used in computing diluted earnings per share		4,168,214			4,168,214			4,168,214			4,168,214

	Three Months Ended 2013
	March 31,			June 30,			September 30,			December 31,
	(dollars in thousands, except per share amounts)
2013
Rental and other property revenues	$	-		$	-		$	-		$	-
Total operating expenses		406			477			505			958
Operating loss		(406	)		(477	)		(505	)		(958	)
Other income, net of other expenses		1,119			1,123			1,130			7,571
Income before gain on land sales, non-controlling interest, and taxes		713			646			625			6,613
Gain on land sales		-			-			-			-
Income tax expense		(6	)		-			-			(3,057	)
Net income from continuing operations		707			646			625			3,556
Net loss from discontinued operations		(12	)		-			-			(4	)
Net income	$	695		$	646		$	625		$	3,552
PER SHARE DATA
Earnings per share - basic
Income from continuing operations	$	0.17		$	0.15		$	0.15		$	0.86
Income (loss) from discontinued operations		-			-			-			-
Net income applicable to common shares	$	0.17		$	0.15		$	0.15		$	0.86
Weighted average common shares used in computing earnings per share		4,168,214			4,168,214			4,168,214			4,168,214
Earnings per share - diluted
Income from continuing operations	$	0.17		$	0.15		$	0.15		$	0.86
Income (loss) from discontinued operations		-			-			-			-
Net income applicable to common shares	$	0.17		$	0.15		$	0.15		$	0.86
Weighted average common shares used in computing diluted earnings per share		4,168,214			4,168,214			4,168,214			4,168,214

	Three Months Ended 2012
	March 31,			June 30,			September 30,			December 31,
	(dollars in thousands, except share and per share amounts)
2012
Rental and other property revenues	$	-		$	-		$	-		$	-
Total operating expenses		383			426			285			302
Operating loss		(383	)		(426	)		(285	)		(302	)
Other income, net of other expenses		897			1,424			682			859
Income before gain on land sales, non-controlling interest, and taxes		514			998			397			557
Gain on land sales		-			-			-			-
Income tax expense		(2	)		-			(14	)		(860	)
Net income (loss) from continuing operations		512			998			383			(303	)
Net loss from discontinued operations		(5	)		-			(27	)		(37	)
Net income (loss)	$	507		$	998		$	356		$	(340	)
PER SHARE DATA
Earnings per share - basic
Income (loss) from continuing operations	$	0.12		$	0.24		$	0.09		$	(0.07	)
Loss from discontinued operations		-			-			(0.01	)		(0.01	)
Net income (loss) applicable to common shares	$	0.12		$	0.24		$	0.08		$	(0.08	)
Weighted average common shares used in computing earnings per share		4,168,214			4,168,214			4,168,214			4,168,214
Earnings per share - diluted
Income (loss) from continuing operations	$	0.12		$	0.24		$	0.09		$	(0.07	)
Loss from discontinued operations		-			-			(0.01	)		(0.01	)
Net income (loss) applicable to common shares	$	0.12		$	0.24		$	0.08		$	(0.08	)
Weighted average common shares used in computing diluted earnings per share		4,168,214			4,168,214			4,168,214			4,168,214