Quarterly report pursuant to Section 13 or 15(d)

SECURITIES (Tables)

v2.4.0.8
SECURITIES (Tables)
9 Months Ended
Sep. 30, 2013
SECURITIES [Abstract]  
Amortized cost and fair value of securities
The amortized cost and fair value of securities at period-end were as follows (dollars in thousands):
 
 
 
   
Gross
   
Gross
   
 
 
 
Amortized
   
Unrealized
   
Unrealized
   
Fair
 
 
 
Cost
   
Gains
   
Losses
   
Value
 
September 30, 2013
 
   
   
   
 
 
 
   
   
   
 
Available for Sale:
 
   
   
   
 
U.S. Treasury and federal agency securities
 
$
53,606
   
$
92
   
$
(1,210
)
 
$
52,488
 
U.S. Agency MBS and CMOs
   
18,848
     
21
     
(267
)
   
18,602
 
Tax-exempt state and municipal bonds
   
25,455
     
56
     
(946
)
   
24,565
 
Taxable state and municipal bonds
   
27,821
     
352
     
(312
)
   
27,861
 
Corporate bonds and other debt securities
   
10,439
     
59
     
(63
)
   
10,435
 
Other equity securities
   
1,500
     
---
     
(12
)
   
1,488
 
 
 
$
137,669
   
$
580
   
$
(2,810
)
 
$
135,439
 
Held to Maturity
                               
State and municipal bonds
 
$
18,995
   
$
449
   
$
---
   
$
19,444
 
 
                               
December 31, 2012
                               
 
                               
Available for Sale:
                               
U.S. Treasury and federal agency securities
 
$
42,245
   
$
340
   
$
(21
)
 
$
42,564
 
U. S. Agency MBS and CMOs
   
23,495
     
272
     
(6
)
   
23,761
 
Tax-exempt state and municipal bonds
   
20,598
     
244
     
(49
)
   
20,793
 
Taxable state and municipal bonds
   
26,726
     
619
     
(49
)
   
27,296
 
Corporate bonds
   
7,456
     
77
     
(7
)
   
7,526
 
Other equity securities
   
1,500
     
57
     
---
     
1,557
 
 
 
$
122,020
   
$
1,609
   
$
(132
)
 
$
123,497
 
Held to Maturity:
                               
State and municipal bonds
 
$
4,300
   
$
1
   
$
---
   
$
4,301
 
 
Contractual maturities of debt securities
Contractual maturities of debt securities at September 30, 2013 were as follows (dollars in thousands):

 
Held–to-Maturity Securities
 
Available-for-Sale Securities
 
 
Amortized
 
Fair
 
Amortized
 
Fair
 
 
Cost
 
Value
 
Cost
 
Value
 
Due in one year or less
 
$
12,630
   
$
13,026
   
$
4,195
   
$
4,227
 
Due from one to five years
   
430
     
430
     
56,572
     
56,585
 
Due from five to ten years
   
5,655
     
5,708
     
44,609
     
43,265
 
Due after ten years
   
280
     
280
     
30,793
     
29,874
 
 
 
$
18,995
   
$
19,444
   
$
136,169
   
$
133,951
 

Securities in continuous unrealized loss position
Securities with unrealized losses at September 30, 2013 and December 31, 2012, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (dollars in thousands):
 
 
 
Less than 12 Months
   
12 Months or More
   
Total
 
 
 
Fair
   
Unrealized
   
Fair
   
Unrealized
   
Fair
   
Unrealized
 
September 30, 2013
 
Value
   
Loss
   
Value
   
Loss
   
Value
   
Loss
 
U.S. Treasury and federal agency securities
 
$
43,255
   
$
(1,210
)
 
$
---
   
$
---
   
$
43,255
   
$
(1,210
)
U.S. Agency MBS and CMOs
   
15,930
     
(267
)
   
---
     
---
     
15,930
     
(267
)
Tax-exempt state and municipal bonds
   
20,051
     
(946
)
   
---
     
---
     
20,051
     
(946
)
Taxable state and municipal bonds
   
10,505
     
(285
)
   
756
     
(27
)
   
11,261
     
(312
)
Corporate bonds and other debt securities
   
4,157
     
(63
)
   
---
     
---
     
4,157
     
(63
)
Other equity securities
   
1,488
     
(12
)
   
---
     
---
     
1,488
     
(12
)
Total temporarily impaired
 
$
95,386
   
$
(2,783
)
 
$
756
   
$
(27
)
 
$
96,142
   
$
(2,810
)
 
 
 
Less than 12 Months
   
12 Months or More
   
Total
 
 
 
Fair
   
Unrealized
   
Fair
   
Unrealized
   
Fair
   
Unrealized
 
December 31, 2012
 
Value
   
Loss
   
Value
   
Loss
   
Value
   
Loss
 
U.S. Treasury and federal agency securities
 
$
10,977
   
$
(21
)
 
$
---
   
$
---
   
$
10,977
   
$
(21
)
U.S. Agency MBS and CMOs
   
3,373
     
(6
)
   
---
     
---
     
3,373
     
(6
)
Tax-exempt state and municipal bonds
   
4,613
     
(49
)
   
---
     
---
     
4,613
     
(49
)
Taxable state and municipal bonds
   
4,661
     
(49
)
   
---
     
---
     
4,661
     
(49
)
Corporate bonds
   
3,945
     
(7
)
   
---
     
---
     
3,945
     
(7
)
Other equity securities
   
---
     
---
     
---
     
---
     
---
     
---
 
Total temporarily impaired
 
$
27,569
   
$
(132
)
 
$
---
   
$
---
   
$
27,569
   
$
(132
)