ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 2014

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 8 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following tables summarize the changes within each classification of accumulated other comprehensive loss, net of tax, for the three and nine months ended September 30, 2014, and summarize the significant amounts reclassified out of each component of accumulated other comprehensive income:

Changes in Accumulated Other Comprehensive Income (Loss) by Component
For the Three Months Ended September 30, 2014(1)
	Unrealized Gains and Losses on Available-for-Sale Securities			Total
Accumulated Other Comprehensive Loss at July 1, 2014	$	(37,959	)	$	(37,959	)
Other comprehensive loss before reclassifications		(56,765	)		(56,765	)
Amount reclassified from accumulated other comprehensive loss(2)		(55,496	)		(55,496	)
Net current-period other comprehensive loss		(112,261	)		(112,261	)
Accumulated Other Comprehensive Loss at September 30, 2014	$	(150,220	)	$	(150,220	)

⁽¹⁾ All amounts are net of tax.

⁽²⁾ See table below for details about reclassifications.

Reclassifications out of Accumulated Other Comprehensive Income (Loss)
For the Three Months Ended September 30, 2014
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)			Affected Line Item in the Statement Where Net Income is Presented
Unrealized gains and losses on available-for-sale securities	$	88,089		Gain on sale of securities
		(32,593	)	Tax expense
Total reclassifications for the period	$	55,496		Net of tax

Changes in Accumulated Other Comprehensive Income (Loss) by Component
For the Nine Months Ended September 30, 2014(1)
	Unrealized Gains and Losses on Available-for-Sale Securities			Total
Accumulated Other Comprehensive Loss at January 1, 2014	$	(1,692,488	)	$	(1,692,488	)
Other comprehensive income before reclassifications		1,597,764			1,597,764
Amount reclassified from accumulated other comprehensive loss(2)		(55,496	)		(55,496	)
Net current-period other comprehensive income		1,542,268			1,542,268
Accumulated Other Comprehensive Loss at September 30, 2014	$	(150,220	)	$	(150,220	)

⁽¹⁾ All amounts are net of tax.

⁽²⁾ See table below for details about reclassifications.

Reclassifications out of Accumulated Other Comprehensive Income (Loss)
For the Nine Months Ended September 30, 2014
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)			Affected Line Item in the Statement Where Net Income is Presented
Unrealized gains and losses on available-for-sale securities	$	88,089		Gain on sale of securities
		(32,593	)	Tax expense
Total reclassifications for the period	$	55,496		Net of tax

The following tables summarize the changes within each classification of accumulated other comprehensive income (loss), net of tax, for the three and nine months ended September 30, 2013 and summarizes the significant amounts reclassified out of each component of accumulated other comprehensive income for the nine months ended September 30, 2013. There was no reclassification out of accumulated other comprehensive loss for the three months ended September 30, 2013.

Changes in Accumulated Other Comprehensive Income (Loss) by Component
For the Three Months Ended September 30, 2013(1)
	Unrealized Gains and Losses on Available-for-Sale Securities			Total
Accumulated Other Comprehensive Loss at July 1, 2013	$	(1,041,050	)	$	(1,041,050	)
Other comprehensive loss before reclassifications		(230,162	)		(230,162	)
Amount reclassified from accumulated other comprehensive loss		-			-
Net current-period other comprehensive loss		(230,162	)		(230,162	)
Accumulated Other Comprehensive Loss at September 30, 2013	$	(1,271,212	)	$	(1,271,212	)

⁽¹⁾ All amounts are net of tax.

Changes in Accumulated Other Comprehensive Income (Loss) by Component
For the Nine Months Ended September 30, 2013(1)
	Unrealized Gains and Losses on Available-for-Sale Securities			Total
Accumulated Other Comprehensive Income at January 1, 2013	$	1,196,111		$	1,196,111
Other comprehensive loss before reclassifications		(2,241,066	)		(2,241,066	)
Amount reclassified from accumulated other comprehensive income(2)		(226,257	)		(226,257	)
Net current-period other comprehensive loss		(2,467,323	)		(2,467,323	)
Accumulated Other Comprehensive Loss at September 30, 2013	$	(1,271,212	)	$	(1,271,212	)

⁽¹⁾ All amounts are net of tax.

⁽²⁾ See table below for details about reclassifications.

Reclassifications out of Accumulated Other Comprehensive Income (Loss)
For the Nine Months Ended September 30, 2013
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)			Affected Line Item in the Statement Where Net Income is Presented
Unrealized gains and losses on available-for-sale securities	$	359,138		Gain on sale of securities
		(132,881	)	Tax expense
Total reclassifications for the period	$	226,257		Net of tax