Change in Accounting Estimate

9 Months Ended

Sep. 30, 2018

Change in Accounting Estimate [Abstract]

Change in Accounting Estimate

Note 2:   Change in Accounting Estimate

In conjunction with the filing of the 2017 New York State income tax return and based on challenges encountered with respect to the ongoing mortgage recording tax examinations, the Company believes at this time that it is important to record a valuation percentage lower than 0.25% against all mortgage loans eligible for the special additional mortgage recording tax credit and believes that it is appropriate to adjust the outstanding balance of previously recorded special additional mortgage recording tax credits. The Company made this election on September 30, 2018 and its impact was as follows:

Income from continuing operations $(159,000)

Net Income $(126,000)

Net income per share for the three months ended September 30, 2018 $(0.07)

Net income per share for the nine months ended September 30, 2018 $(0.06)