Stock Based Compensation:

6 Months Ended

Jun. 30, 2011

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 6 Stock Based Compensation:

The Company has two stock option plans, which are fully described in Note K in the Bank’s Annual Report on Form 10-K.  The Company recognizes the cost of employee services received in exchange for awards of stock options or other equity instruments, based on the grant-date fair value of those awards. The cost is recognized over the period which an employee is required to provide services in exchange for the award, generally the vesting period. Both plans call for accelerated vesting if the Company enters into a merger agreement. With the June 24, 2011 execution of the Definitive Agreement of Merger, all Bank employee and director stock options became fully vested and the remaining expense of $80 thousand and $33 thousand, respectively, was processed prior to June 30, 2011. For additional information regarding the merger agreement, please see “Managements Discussion and Analysis, Executive Overview” filed on this Form 10Q.