Note 5 - Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2015

Disclosure Text Block [Abstract]

Comprehensive Income (Loss) Note [Text Block]

5. Accumulated Other Comprehensive Income

The following table sets forth our changes in accumulated other comprehensive income (“AOCI”):

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2015			2014		2015			2014
	(Dollars in thousands)
Unrealized gains (losses) on available-for-sale marketable securities 1 :
Beginning balance	$	3,142		$	3,609	$	2,775		$	7,655
Other comprehensive income (loss) before reclassifications		(1,260	)		1,633		(900	)		1,600
Amounts reclassified from AOCI 2		(293	)		104		(286	)		(3,909	)
Ending balance	$	1,589		$	5,346	$	1,589		$	5,346
Unrealized gains on available-for-sale metropolitan district bond securities 1 :
Beginning balance	$	8,621		$	3,920	$	7,680		$	3,920
Other comprehensive income before reclassifications		1,193			590		2,134			590
Amounts reclassified from AOCI		-			-		-			-
Ending balance	$	9,814		$	4,510	$	9,814		$	4,510
Total ending AOCI	$	11,403		$	9,856	$	11,403		$	9,856

⁽¹⁾ All amounts net-of-tax.

⁽²⁾ See separate table below for details about these reclassifications.

The following table sets forth the activity related to reclassifications out of accumulated other comprehensive income related to available for sale securities:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
Affected Line Item in the Statements of Operations	2015			2014			2015			2014
	(Dollars in thousands)
Homebuilding interest and other income	$	137		$	(176	)	$	125		$	6,361
Financial services interest and other income		336			7			337			(5	)
Income before income taxes		473			(169	)		462			6,356
Provision for income taxes		(180	)		65			(176	)		(2,447	)
Net income	$	293		$	(104	)	$	286		$	3,909