QUARTERLY DATA (Tables)

12 Months Ended

Dec. 31, 2015

QUARTERLY DATA (Tables):

Schedule of Quarterly Financial Information

The following is a table of quarterly results of operations for the years 2015, 2014 and 2013:

		Three Months Ended 2015
		March 31,			June 30,			September 30,			December 31,
		(dollars in thousands, except per share amounts)
2015
Rental and other property revenues	$	—		$	—		$	—		$	—
Total operating expenses		401			352			345			320
Operating loss		(401	)		(352	)		(345	)		(320	)
Other income, net of other expenses		955			955			1,025			789
Income before gain on land sales, non-contolling interest, and taxes		554			603			680			469
Income tax expense		—			—			—			(807)
Net income (loss) from continuing operations		554			603			680			(338)
Net income (loss) from discontinued operations		—			—			—			—
Net income (loss)	$	554		$	603		$	680		$	(338)
PER SHARE DATA
Earnings per share - basic
Income (loss) from continuing operations	$	0.13		$	0.14		$	0.16		$	(0.08)
Income (loss) from discontinued operations		—			—			—			—
Net income (loss) applicable to common shares	$	0.13		$	0.14		$	0.16		$	(0.08)
Weighted average common shares used in computing earnings per share		4,168,214			4,168,214			4,168,214			4,168,214
Earnings per share - diluted
Income (loss) from continuing operations	$	0.13		$	0.14		$	0.16		$	(0.08)
Income (loss) from discontinued operations		—			—			—			—
Net income (loss) applicable to common shares	$	0.13		$	0.14		$	0.16		$	(0.08)
Weighted average common shares used in computing diluted earnings per share		4,168,214			4,168,214			4,168,214			4,168,214

	Three Months Ended 2014
			March 31,			June 30,			September 30,			December 31,
	(dollars in thousands, except per share amounts)
2014
Rental and other property revenues		$	—		$	—		$	—		$	—
Total operating expenses			390			363			380			385
Operating loss			(390	)		(363	)		(380	)		(385	)
Other income, net of other expenses			949			1,058			1,003			1,013
Income before gain on land sales, non-contolling interest, and taxes			559			695			623			628
Income tax expense			—			—			—			(946	)
Net income (loss) from continuing operations			559			695			623			(318	)
Net income (loss) from discontinued operations			—			—			—			—
Net income (loss)		$	559		$	695		$	623		$	(318	)
PER SHARE DATA
Earnings per share - basic
Income (loss) from continuing operations		$	0.13		$	0.17		$	0.15		$	(0.08	)
Income (loss) from discontinued operations			—			—			—			—
Net income (loss) applicable to common shares		$	0.13		$	0.17		$	0.15		$	(0.08	)
Weighted average common shares used in computing earnings per share			4,168,214			4,168,214			4,168,214			4,168,214
Earnings per share - diluted
Income (loss) from continuing operations		$	0.13		$	0.17		$	0.15		$	(0.08	)
Income (loss) from discontinued operations			—			—			—			—
Net income (loss) applicable to common shares		$	0.13		$	0.17		$	0.15		$	(0.08	)
Weighted average common shares used in computing diluted earnings per share			4,168,214			4,168,214			4,168,214			4,168,214

	Three Months Ended 2013
			March 31,			June 30,			September 30,			December 31,
	(dollars in thousands, except per share amounts)
2013
Rental and other property revenues		$	—		$	—		$	—		$	—
Total operating expenses			406			477			505			958
Operating loss			(406	)		(477	)		(505	)		(958	)
Other income, net of other expenses			1,119			1,123			1,130			7,571
Income before gain on land sales, non-controlling interest, and taxes			713			646			625			6,613
Income tax expense			(6	)		—			—			(3,057	)
Net income from continuing operations			707			646			625			3,556
Net loss from discontinued operations			(12	)		—			—			(4	)
Net income		$	695		$	646		$	625		$	3,552
PER SHARE DATA
Earnings per share - basic
Income from continuing operations		$	0.17		$	0.15		$	0.15		$	0.86
Income (loss) from discontinued operations			—			—			—			—
Net income applicable to common shares		$	0.17		$	0.15		$	0.15		$	0.86
Weighted average common shares used in computing earnings per share			4,168,214			4,168,214			4,168,214			4,168,214
Earnings per share - diluted
Income from continuing operations		$	0.17		$	0.15		$	0.15		$	0.86
Income (loss) from discontinued operations			—			—			—			—
Net income applicable to common shares		$	0.17		$	0.15		$	0.15		$	0.86
Weighted average common shares used in computing diluted earnings per share			4,168,214			4,168,214			4,168,214			4,168,214