| Summary of securities available-for-sale |
Securities consist of the following at September 30, 2012 and December 31, 2011:
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (Dollars in thousands) |
|
Amortized
cost |
|
|
Gross
unrealized
gains |
|
|
Gross
unrealized
losses |
|
|
Fair value |
|
|
September 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-sale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury security
|
|
$ |
100 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
100 |
|
|
Obligations of U.S. Government corporations and agencies
|
|
|
34,874 |
|
|
|
52 |
|
|
|
52 |
|
|
|
34,874 |
|
|
Mortgage-backed securities in government sponsored entities
|
|
|
76,875 |
|
|
|
2,491 |
|
|
|
38 |
|
|
|
79,328 |
|
|
Obligations of states and political subdivisions
|
|
|
15,402 |
|
|
|
740 |
|
|
|
4 |
|
|
|
16,138 |
|
|
Corporate bonds
|
|
|
4,310 |
|
|
|
109 |
|
|
|
36 |
|
|
|
4,383 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt securities
|
|
|
131,561 |
|
|
|
3,392 |
|
|
|
130 |
|
|
|
134,823 |
|
|
Equity securities in financial institutions
|
|
|
69 |
|
|
|
6 |
|
|
|
9 |
|
|
|
66 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total available-for-sale
|
|
|
131,630 |
|
|
|
3,398 |
|
|
|
139 |
|
|
|
134,889 |
|
|
Restricted stock
|
|
|
5,463 |
|
|
|
0 |
|
|
|
0 |
|
|
|
5,463 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total securities
|
|
$ |
137,093 |
|
|
$ |
3,398 |
|
|
$ |
139 |
|
|
$ |
140,352 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
December 31, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-sale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury security
|
|
$ |
100 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
100 |
|
|
Obligations of U.S. Government corporations and agencies
|
|
|
28,263 |
|
|
|
83 |
|
|
|
23 |
|
|
|
28,323 |
|
|
Mortgage-backed securities in government sponsored entities
|
|
|
74,834 |
|
|
|
1,562 |
|
|
|
64 |
|
|
|
76,332 |
|
|
Obligations of states and political subdivisions
|
|
|
14,148 |
|
|
|
732 |
|
|
|
0 |
|
|
|
14,880 |
|
|
Corporate bonds
|
|
|
3,445 |
|
|
|
6 |
|
|
|
121 |
|
|
|
3,330 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt securities
|
|
|
120,790 |
|
|
|
2,383 |
|
|
|
208 |
|
|
|
122,965 |
|
|
Equity securities in financial institutions
|
|
|
69 |
|
|
|
3 |
|
|
|
11 |
|
|
|
61 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total available-for-sale
|
|
|
120,859 |
|
|
|
2,386 |
|
|
|
219 |
|
|
|
123,026 |
|
|
Restricted stock
|
|
|
5,463 |
|
|
|
0 |
|
|
|
0 |
|
|
|
5,463 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total securities
|
|
$ |
126,322 |
|
|
$ |
2,386 |
|
|
$ |
219 |
|
|
$ |
128,489 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of amortized cost and fair value of debt securities |
| |
|
|
|
|
|
|
|
|
| (Dollars in thousands) |
|
Amortized
cost |
|
|
Fair value |
|
|
Available-for-sale:
|
|
|
|
|
|
|
|
|
|
Due in one year or less
|
|
$ |
280 |
|
|
$ |
280 |
|
|
Due after one through five years
|
|
|
13,172 |
|
|
|
13,551 |
|
|
Due after five through ten years
|
|
|
20,428 |
|
|
|
20,899 |
|
|
Due after ten years
|
|
|
97,681 |
|
|
|
100,093 |
|
| |
|
|
|
|
|
|
|
|
|
Total debt securities available-for-sale
|
|
$ |
131,561 |
|
|
$ |
134,823 |
|
| |
|
|
|
|
|
|
|
|
|
| Summary of gross unrealized losses and fair value of securities |
The following table presents gross unrealized
losses and fair value of securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2012 and December 31, 2011:
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Securities in a continuous unrealized loss position |
|
| |
|
Less than 12 months |
|
|
12 months or more |
|
|
Total |
|
| (Dollars in thousands) |
|
Gross
unrealized
losses |
|
|
Fair
value |
|
|
Gross
unrealized
losses |
|
|
Fair
value |
|
|
Gross
unrealized
losses |
|
|
Fair
value |
|
|
September 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Obligations of U.S. Corporations and agencies
|
|
$ |
52 |
|
|
$ |
13,945 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
52 |
|
|
$ |
13,945 |
|
|
Mortgage-backed securities in government sponsored entities
|
|
|
38 |
|
|
$ |
2,249 |
|
|
|
0 |
|
|
|
0 |
|
|
|
38 |
|
|
|
2,249 |
|
|
Obligations of state and political subdivisions
|
|
|
4 |
|
|
|
610 |
|
|
|
0 |
|
|
|
0 |
|
|
|
4 |
|
|
|
610 |
|
|
Corporate bonds
|
|
|
5 |
|
|
|
367 |
|
|
|
31 |
|
|
|
969 |
|
|
|
36 |
|
|
|
1,336 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt securities
|
|
|
99 |
|
|
|
17,171 |
|
|
|
31 |
|
|
|
969 |
|
|
|
130 |
|
|
|
18,140 |
|
|
Equity securities in financial institutions
|
|
|
0 |
|
|
|
0 |
|
|
|
9 |
|
|
|
45 |
|
|
|
9 |
|
|
|
45 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total temporarily impaired securities
|
|
$ |
99 |
|
|
$ |
17,171 |
|
|
$ |
40 |
|
|
$ |
1,014 |
|
|
$ |
139 |
|
|
$ |
18,185 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
December 31, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Obligations of U.S. Corporations and agencies
|
|
$ |
23 |
|
|
$ |
6,974 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
23 |
|
|
$ |
6,974 |
|
|
Mortgage-backed securities in government sponsored entities
|
|
|
63 |
|
|
|
16,794 |
|
|
|
1 |
|
|
|
192 |
|
|
|
64 |
|
|
|
16,986 |
|
|
Corporate bonds
|
|
|
49 |
|
|
|
2,397 |
|
|
|
72 |
|
|
|
428 |
|
|
|
121 |
|
|
|
2,825 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt securities
|
|
|
135 |
|
|
|
26,165 |
|
|
|
73 |
|
|
|
620 |
|
|
|
208 |
|
|
|
26,785 |
|
|
Equity securities in financial institutions
|
|
|
0 |
|
|
|
0 |
|
|
|
11 |
|
|
|
43 |
|
|
|
11 |
|
|
|
43 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total temporarily impaired securities
|
|
$ |
135 |
|
|
$ |
26,165 |
|
|
$ |
84 |
|
|
$ |
663 |
|
|
$ |
219 |
|
|
$ |
26,828 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|