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Note 12 - Restructuring Charges and Asset Disposals
6 Months Ended
Jun. 30, 2014
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure [Text Block]

Note 12:     Restructuring Charges and Asset Disposals


The Company recorded no restructuring charges for the six months ended June 30, 2014, compared to $394,000 in the same period as last year. These costs are included in restructuring charges and asset disposals in the Consolidated Statements of Operations. The $394,000 of restructuring charges for the six months ended June 2013 consisted of a workforce reduction related charge of $515,000, partially offset by $121,000 reduction in existing restructuring reserves related to lease liability costs.


On June 13, 2013, the Company executed a workforce reduction of the residential lending group and retail operations to further reduce operating expenses. There were nineteen employees in total affected by this announcement. Restructuring charges for this initiative resulted in $515,000 in severance expenses.


On May 29, 2013, the Company purchased a branch location where the cost of the lease exceeded the cost to own. This branch was part of a restructuring initiative in 2011, resulting in a reduction of $121,000 in lease liability costs.


Restructuring reserves at June 30, 2014 for the restructuring activities taken in connection with prior year initiatives were $29,000.