Securities (Tables)

6 Months Ended

Jun. 30, 2012

Securities Tables

Schedule of amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities available for sale

The amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Approximate Fair Value
	(In thousands)
Available-for-sale securities:
June 30, 2012:
U.S. government agencies	$	754	$	2	$	1	$	755
Mortgage-backed securities of government sponsored entities		97,941		2,435		91		100,285
Private-label collateralized mortgage obligations		1,288		52		—		1,340
State and political subdivisions		25,665		1,513		39		27,139
Totals	$	125,648	$	4,002	$	131	$	129,519

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Approximate Fair Value
	(In thousands)
Available-for-sale securities:
December 31, 2011:
U.S. government agencies	$	1,559	$	26	$	1	$	1,584
Mortgage-backed securities of government sponsored entities		98,816		2,636		124		101,328
Private-label collateralized mortgage obligations		1,693		48		—		1,741
State and political subdivisions		24,694		1,315		25		25,984
Totals	$	126,762	$	4,025	$	150	$	130,637

Schedule of Held-to-maturity Securities

The amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Approximate Fair Value
	(In thousands)
Held-to-maturity Securities:
June 30, 2012:
U.S. government agencies	$	135	$	—	$	1	$	134
Mortgage-backed securities of government sponsored entities		1,501		42		—		1,543
	$	1,636	$	42	$	1	$	1,677
December 31, 2011:
U.S. government agencies	$	145	$	—	$	—	$	145
Mortgage-backed securities of government sponsored entities		1,527		16		—		1,543
State and political subdivisions		7		—		—		7
	$	1,679	$	16	$	—	$	1,695

Schedule of amortized cost and fair value of available-for-sale securities and held-to-maturity securities by contractual maturity

Amortized cost and fair value of available-for-sale securities and held-to-maturity securities at June 30, 2012 by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Available-for-sale				Held-to-maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In thousands)
Within one year	$	593	$	595	$	—	$	—
One to five years		1,543		1,610		—		—
Five to ten years		7,781		8,172		—		—
After ten years		16,502		17,517		135		134
		26,419		27,894		135		134
Mortgage-backed securities of government sponsored entities		97,941		100,285		1,501		1,543
Private-label collateralized mortgage obligations		1,288		1,340		—		—
Totals	$	125,648	$	129,519	$	1,636	$	1,677

Schedule of gross unrealized losses and fair value

The following table shows the gross unrealized losses and fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.

June 30, 2012
		Less than 12 Months				12 Months or More				Total
Description of Securities		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
U.S. government agencies		$	—	$	—	$	294	$	2	$	294	$	2
Mortgage-backed securities of government sponsored entities			14,163		83		626		8		14,789		91
State and political subdivisions			836		15		758		24		1,594		39
Total temporarily impaired securities		$	14,999	$	98	$	1,678	$	33	$	16,677	$	132

December 31, 2011
		Less than 12 Months				12 Months or More				Total
Description of Securities		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
U.S. government agencies		$	—	$	—	$	313	$	1	$	313	$	1
Mortgage-backed securities of government sponsored entities			16,624		124		—		—		16,624		124
State and political subdivisions			—		—		759		25		759		25
Total temporarily impaired securities		$	16,624	$	124	$	1,072	$	26	$	17,696	$	150