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Investment in Unconsolidated Subsidiary
12 Months Ended
Dec. 31, 2012
Investment in Unconsolidated Subsidiary [Abstract]  
INVESTMENT IN UNCONSOLIDATED SUBSIDIARY

11.  Investment in Unconsolidated Subsidiary

 

On September 1, 2006, the Company invested in Liverpool Community Bank (formerly known as The First National Bank of Liverpool) (LCB), Liverpool, PA, by purchasing 39.16% of its outstanding common stock. This investment is accounted for under the equity method of accounting. The investment is being carried at $4,000,000 as of December 31, 2012. The investment is evaluated quarterly for impairment. A loss in value of the investment which is determined to be other than a temporary decline would be recognized as a loss in the period in which such determination is made. Evidence of a loss in value might include, but would not necessarily be limited to, absence of an ability to recover the carrying amount of the investment or inability of LCB to sustain an earnings capacity which would justify the current carrying value of the investment.