INCOME TAXES

9 Months Ended

Sep. 30, 2011

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

12. INCOME TAXES

 The Company recorded an income tax benefit for the three months ended September 30, 2011, of $2.3 million compared to a benefit for income taxes of $.7 million during the third quarter of 2010.  The Company recorded an income tax benefit for the nine months ended September 30, 2011, of $2.6 million compared to a provision for income taxes of $.2 million during the same period of 2010.  The benefit for income taxes in the three and nine months ended September 30, 2011 were the result of an increase in the estimated gross unrealized gains on the investment securities portfolio for the respective full year and the impact of having a full deferred tax asset valuation allowance.