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Other Comprehensive Income (Tables)
6 Months Ended
Jun. 30, 2013
Equity [Abstract]  
Change in Unrealized Gains and Losses on Available-for-Sale Securities

Other comprehensive income, which is comprised solely of the change in unrealized gains and losses on available-for-sale securities, is as follows:

 

   

Three Months Ended

June 30, 2013

   

Six Months Ended

June 30, 2013

 
    Before Tax
Amount
    Tax Effect     Net of Tax
Amount
    Before Tax
Amount
    Tax Effect     Net of Tax
Amount
 

Unrealized holding losses arising during the period

    $(629,406)      $ —        $ (629,406   $ (574,445   $ —        $ (574,445

Reclassification adjustment for losses recognized in income

    —          —          —          —          —          —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Unrealized holding losses on available for sale securities, net of taxes

  $ (629,406   $ —        $ (629,406   $ (574,445   $ —        $ (574,445
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   

Three Months Ended

June 30, 2012

   

Six Months Ended

June 30, 2012

 
    Before Tax
Amount
    Tax Effect     Net of Tax
Amount
    Before Tax
Amount
    Tax Effect     Net of Tax
Amount
 

Unrealized holding gains arising during the period

    $198,155      $ (75,299   $ 122,856      $ 306,842      $ (116,601   $ 190,241   

Reclassification adjustment for (losses) recognized in income

    —          —          —          (8,042     3,056        (4,986
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Unrealized holding gains on available for sale securities, net of taxes

  $ 198,155      $ (75,299   $ 122,856      $ 298,800      $ (113,545   $ 185,255