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QUARTERLY DATA

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

NOTE 8.

QUARTERLY DATA

The following is a table of quarterly results of operations for the years 2019, 2018 and 2017:

		Three Months Ended 2019
		March 31,				June 30,				September 30,				December 31,
		(dollars in thousands, except per share amounts)
2019
Rental and other property revenues		$	—			$	—			$	—			$	—
Total operating expenses			414				448				368				358
Operating loss			(414	)			(448	)			(368	)			(358	)
Other income, net of other expenses			1,642				1,824				1,672				1,673
Gain on sale of real estate land			—				—				—				—
Income before gain on land sales, non-contolling interest, and taxes			1,228				1,376				1,304				1,315
Income tax expense			258				289				274				257
Net income		$	970			$	1,087			$	1,030			$	1,058

PER SHARE DATA
Earnings per share - basic and diluted
Net income applicable to common shares		$	0.23			$	0.26			$	0.25			$	0.25
Weighted average common shares used in computing earnings per share			4,168,214				4,168,214				4,168,214				4,173,675

		Three Months Ended 2018
		March 31,				June 30,				September 30,				December 31,
		(dollars in thousands, except per share amounts)
2018
Rental and other property revenues		$	—			$	—			$	—			$	—
Total operating expenses			340				374				634				462
Operating loss			(340	)			(374	)			(634	)			(462	)
Other income, net of other expenses			1,042				1,081				1,201				1,556
Giain on sale of real estate land			—				—				7,323				—
Income before gain on land sales, non-contolling interest, and taxes			702				707				7,890				1,094
Income tax expense			—				—				1,902				281
Net income (loss)		$	702			$	707			$	5,988			$	813

PER SHARE DATA
Earnings per share - basic and diluted
Net income (loss) applicable to common shares		$	0.17			$	0.17			$	1.44			$	0.19
Weighted average common shares used in computing earnings per share			4,168,214				4,168,214				4,168,214				4,168,214


		Three Months Ended 2017
		March 31,				June 30,				September 30,				December 31,
		(dollars in thousands, except per share amounts)
2017
Rental and other property revenues		$	—			$	—			$	—			$	—
Total operating expenses			352				360				312				324
Operating loss			(352	)			(360	)			(312	)			(324	)
Other income, net of other expenses			1,089				1,369				924				1,105
Income before gain on land sales, non-contolling interest, and taxes			737				1,009				612				781
Income tax expense			—				—				—				1,631
Net income (loss)		$	737			$	1,009			$	612			$	(850	)

PER SHARE DATA
Earnings per share - basic and diluted
Net income (loss) applicable to common shares		$	0.18			$	0.24			$	0.15			$	(0.20	)
Weighted average common shares used in computing earnings per share			4,168,214				4,168,214				4,168,214				4,168,214