Investment Securities

3 Months Ended

Mar. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Note 3 – Investment Securities

The following table provides information on the amortized cost and estimated fair values of investment securities.

			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		Losses		Value
Available-for-sale securities:
March 31, 2014
U.S. Treasury	$	5,309	$	-	$	4	$	5,305
U.S. Government agencies		54,705		50		373		54,382
Mortgage-backed		92,263		461		774		91,950
Equity		614		-		4		610
Total	$	152,891	$	511	$	1,155	$	152,247
December 31, 2013
U.S. Treasury	$	5,342	$	1	$	-	$	5,343
U.S. Government agencies		60,754		62		372		60,444
Mortgage-backed		81,130		520		937		80,713
Equity		609		-		8		601
Total	$	147,835	$	583	$	1,317	$	147,101
Held-to-maturity securities:
March 31, 2014
U.S. Government agencies	$	2,891	$	-	$	211	$	2,680
States and political subdivisions		2,183		141		-		2,324
Total	$	5,074	$	141	$	211	$	5,004
December 31, 2013
U.S. Government agencies	$	2,975	$	-	$	222	$	2,753
States and political subdivisions		2,210		99		-		2,309
Total	$	5,185	$	99	$	222	$	5,062

The following tables provide information about gross unrealized losses and fair value by length of time that the individual securities have been in a continuous unrealized loss position at March 31, 2014 and December 31, 2013.

	Less than 12 Months				More than 12 Months				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
March 31, 2014
Available-for-sale securities:
U.S. Treasury	$	5,305	$	4	$	-	$	-	$	5,305	$	4
U.S. Government agencies		38,491		373		-		-		38,491		373
Mortgage-backed		34,281		352		18,438		422		52,719		774
Equity		610		4		-		-		610		4
Total	$	78,687	$	733	$	18,438	$	422	$	97,125	$	1,155
Held-to-maturity securities:
U.S. Government agencies	$	2,680	$	211	$	-	$	-	$	2,680	$	211

	Less than 12 Months				More than 12 Months				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
December 31, 2013
Available-for-sale securities:
U.S. Government agencies	$	33,004	$	372	$	-	$	-	$	33,004	$	372
Mortgage-backed		28,694		416		19,121		521		47,815		937
Equity		601		8		-		-		601		8
Total	$	62,299	$	796	$	19,121	$	521	$	81,420	$	1,317
Held-to-maturity securities:
U.S. Government agencies	$	2,753	$	222	$	-	$	-	$	2,753	$	222

All of the securities with unrealized losses in the portfolio have modest duration risk, low credit risk, and minimal losses when compared to total amortized cost. The unrealized losses on debt securities that exist are the result of market changes in interest rates since original purchase. Because the Company does not intend to sell these securities and it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost bases, which may be at maturity for debt securities, the Company considers the unrealized losses to be temporary.

The following table provides information on the amortized cost and estimated fair values of investment securities by maturity date at March 31, 2014.

	Available for sale				Held to maturity
	Amortized		Estimated		Amortized		Estimated
(Dollars in thousands)	Cost		Fair Value		Cost		Fair Value
Due in one year or less	$	2,023	$	2,028	$	241	$	243
Due after one year through five years		57,639		57,473		432		450
Due after five years through ten years		6,735		6,775		1,006		1,108
Due after ten years		85,880		85,361		3,395		3,203
		152,277		151,637		5,074		5,004
Equity securities		614		610		-		-
Total	$	152,891	$	152,247	$	5,074	$	5,004

The maturity dates for debt securities are determined using contractual maturity dates.