NOTE 7 - OTHER ASSETS

12 Months Ended

Dec. 31, 2012

Other Assets Disclosure [Text Block]

7. OTHER ASSETS

Major classifications of other assets at December 31 were as follows (in thousands):

	2012		2011
Deferred taxes, net	$	12,346	$	10,721
Federal and state tax receivable		444		250
Prepaid expenses		879		623
Mortgage servicing asset		898		696
Other		1,030		1,238
Total other assets	$	15,597	$	13,528

Originated mortgage servicing assets totaling $516,000, $248,000 and $313,000 were recognized during the years ended December 31, 2012, 2011 and 2010, respectively. Amortization of mortgage servicing assets totaled $314,000, $260,000 and $317,000 for the years ended December 31, 2012, 2011 and 2010, respectively. There were no impairment charges to mortgage servicing assets during the years ended December 31, 2012, 2011 and 2010. At December 31, 2012 and 2011, the Company serviced real estate loans and loans guaranteed by the Small Business Administration which it had sold to the secondary market of approximately $159,010,000 and $130,876,000, respectively.