Comprehensive Income

9 Months Ended

Sep. 30, 2011

Comprehensive Income [Abstract]

Comprehensive Income

6.           Comprehensive Income

Comprehensive income or loss of the Corporation represents net income plus other comprehensive income or loss, which consists of the net change in unrealized holding gains or losses on securities available for sale and the change in the funded status of the Corporation's defined benefit pension plan and other benefit plans, net of the related tax effect.  Accumulated other comprehensive income or loss represents the net unrealized holding gains or losses on securities available for sale and the funded status of the Corporation's defined benefit pension plan and other benefit plans, as of the consolidated balance sheet dates, net of the related tax effect.

Comprehensive income for the three and nine-month periods ended September 30, 2011 was $3,297,441 and $10,538,802, respectively.  Comprehensive income for the three and nine-month periods ended September 30, 2010 was $3,393,701 and $9,919,485, respectively.  The following summarizes the components of other comprehensive income:

	Nine Months Ended September 30,						Three Months Ended September 30,
Other Comprehensive Income	2011			2010			2011			2010
Unrealized holding gains on securities available for sale	$	5,448,351		$	4,573,717		$	294,210		$	1,400,082
Change in unrealized gains (losses) on securities available for sale for which a portion of an other-than-temporary impairment has been recognized in earnings, net of reclassification		27,725			172,340			(9,425	)		(50,760	)
Reclassification adjustment net gains realized in net   income		(1,108,091	)		(451,094	)		(428,882	)		-
Net unrealized gains (losses)		4,367,985			4,294,963			(144,097	)		1,349,322
Tax effect		1,689,798			1,661,547			(55,746	)		521,998
Net of tax amount	$	2,678,187		$	2,633,416		$	(88,351	)	$	827,324
Change in funded status of defined benefit pension plan   and other benefit plans		464,097			378,277			154,699			25,183
Tax effect		179,541			146,340			59,847			9,742
Net of tax amount		284,556			231,937			94,852			15,441
Total other comprehensive income	$	2,962,743		$	2,865,353		$	6,501		$	842,765

The following is a summary of the accumulated other comprehensive income balance, net of tax:

	Balance at December 31, 2010				Current Period Change		Balance at September 30, 2011
Unrealized gains on securities available for sale		$	5,661,013		$	2,678,187	$	8,339,200
Unrealized loss on pension plans and other benefit   plans			(5,558,538	)		284,556		(5,273,982	)
Total		$	102,475		$	2,962,743	$	3,065,218