Securities (Tables)

3 Months Ended

Mar. 31, 2014

Securities Tables

Schedule of available for sale securities

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Approximate Fair Value
	(In thousands)
Available-for-sale securities
March 31, 2014:
U.S. government agencies	$	134	$	—	$	—	$	134
Mortgage-backed securities of           government sponsored entities		81,089		1,172		479		81,782
Private-label collateralized mortgage           obligations		651		28		—		679
State and political subdivisions		22,123		765		148		22,740
Totals	$	103,997	$	1,965	$	627	$	105,335

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Approximate Fair Value
	(In thousands)
Available-for-sale securities
December 31, 2013:
U.S. government agencies	$	137	$	—	$	—	$	137
Mortgage-backed securities of           government sponsored entities		79,901		1,177		721		80,357
Private-label collateralized mortgage           obligations		675		29		—		704
State and political subdivisions		22,116		547		236		22,427
Totals	$	102,829	$	1,753	$	957	$	103,625

Schedule of held to maturity securities

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Approximate Fair Value
	(In thousands)
Held-to-maturity Securities:
March 31, 2014:
U.S. government agencies	$	107	$	—	$	—	$	107
Mortgage-backed securities of           government sponsored entities		1,373		11		13		1,371
State and political subdivisions		5,120		—		379		4,741
Totals	$	6,600	$	11	$	392	$	6,219

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Approximate Fair Value
	(In thousands)
Held-to-maturity Securities:
December 31, 2013:
U.S. government agencies	$	109	$	—	$	—	$	109
Mortgage-backed securities of           government sponsored entities		1,390		11		21		1,380
State and political subdivisions		5,124		—		492		4,632
Totals	$	6,623	$	11	$	513	$	6,121

Schedule of contractual maturity of securities

Amortized cost and fair value of available-for-sale securities and held-to-maturity securities at March 31, 2014 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)
One to five years	$	5,003	$	5,238	$	—	$	—
Five to ten years		3,167		3,214		3,058		2,896
After ten years		14,087		14,422		2,169		1,952
		22,257		22,874		5,227		4,848
Mortgage-backed securities of government sponsored entities		81,089		81,782		1,373		1,371
Private-label collateralized mortgage obligations		651		679		—		—
Totals	$	103,997	$	105,335	$	6,600	$	6,219

Schedule of securities in a gross unrealized loss position

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.

	March 31, 2014
	Less than 12 Months				More than 12 Months				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
Mortgage-backed securities of      government sponsored entities	$	28,622	$	294	$	8,984	$	198	$	37,606	$	492
State and political subdivisions		6,910		333		2,440		194		9,350		527
Total temporarily impaired      securities	$	35,532	$	627	$	11,424	$	392	$	46,956	$	1,019

	December 31, 2013
	Less than 12 Months				More than 12 Months				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
Mortgage-backed securities of      government sponsored entities	$	36,004	$	575	$	5,330	$	167	$	41,334	$	742
State and political subdivisions		8,639		555		1,519		173		10,158		728
Total temporarily impaired      securities	$	44,643	$	1,130	$	6,849	$	340	$	51,492	$	1,470