|
SECURITIES (Tables)
|
6 Months Ended |
|
Jun. 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):
|
|
Amortized |
|
|
Gross
Unrealized
|
|
|
Gross
Unrealized
|
|
|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
June 30, 2013 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
50,552 |
|
|
$ |
95 |
|
|
$ |
(1,259 |
) |
|
$ |
49,388 |
|
U.S. Agency MBS and CMOs |
|
|
20,130 |
|
|
|
14 |
|
|
|
(243 |
) |
|
|
19,901 |
|
Tax-exempt state and municipal bonds |
|
|
23,830 |
|
|
|
52 |
|
|
|
(1,040 |
) |
|
|
22,842 |
|
Taxable state and municipal bonds |
|
|
27,984 |
|
|
|
422 |
|
|
|
(209 |
) |
|
|
28,197 |
|
Corporate bonds and other debt securities |
|
|
7,871 |
|
|
|
51 |
|
|
|
(86 |
) |
|
|
7,836 |
|
Other equity securities |
|
|
1,500 |
|
|
|
--- |
|
|
|
(5 |
) |
|
|
1,495 |
|
|
|
$ |
131,867 |
|
|
$ |
634 |
|
|
$ |
(2,842 |
) |
|
$ |
129,659 |
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State and municipal bonds |
|
$ |
5,380 |
|
|
$ |
114 |
|
|
$ |
--- |
|
|
$ |
5,494 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 June 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 |
|
$ |
4,080 |
|
|
$ |
4,194 |
|
|
$ |
3,796 |
|
|
$ |
3,834 |
|
Due from one to five years |
|
|
430 |
|
|
|
430 |
|
|
|
50,651 |
|
|
|
50,671 |
|
Due from five to ten years |
|
|
590 |
|
|
|
590 |
|
|
|
43,298 |
|
|
|
42,037 |
|
Due after ten years |
|
|
280 |
|
|
|
280 |
|
|
|
32,622 |
|
|
|
31,622 |
|
|
|
$ |
5,380 |
|
|
$ |
5,494 |
|
|
$ |
130,367 |
|
|
$ |
128,164 |
|
|
| Securities in continuous unrealized loss position |
Securities with unrealized losses at June 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 |
|
June 30, 2013 |
|
Value |
|
|
Loss |
|
|
Value |
|
|
Loss |
|
|
Value |
|
|
Loss |
|
U.S. Treasury and federal agency securities |
|
$ |
40,108 |
|
|
$ |
(1,259 |
) |
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
40,108 |
|
|
$ |
(1,259 |
) |
U.S. Agency MBS and CMOs |
|
|
18,893 |
|
|
|
(243 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
18,893 |
|
|
|
(243 |
) |
Tax-exempt state and municipal bonds |
|
|
19,024 |
|
|
|
(1,040 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
19,024 |
|
|
|
(1,040 |
) |
Taxable state and municipal bonds |
|
|
10,011 |
|
|
|
(199 |
) |
|
|
326 |
|
|
|
(10 |
) |
|
|
10,337 |
|
|
|
(209 |
) |
Corporate bonds and other debt securities |
|
|
3,639 |
|
|
|
(86 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
3,639 |
|
|
|
(86 |
) |
Other equity securities |
|
|
1,500 |
|
|
|
(5 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,500 |
|
|
|
(5 |
) |
Total temporarily impaired |
|
$ |
93,175 |
|
|
$ |
(2,832 |
) |
|
$ |
326 |
|
|
$ |
(10 |
) |
|
$ |
93,501 |
|
|
$ |
(2,842 |
) |
|
|
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 |
) |
|