Securities (Tables)

6 Months Ended

Jun. 30, 2012

Securities [Abstract]

Amortized cost and fair value of available for sale securities and related pre-tax gross unrealized gains and losses

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 2012
U.S. Government agency debt obligations	$	58,285,000	$	1,561,000	$	(10,000	)	$	59,836,000
Mortgage-backed securities		25,780,000		2,273,000		0			28,053,000
Michigan Strategic Fund bonds		11,360,000		0		0			11,360,000
Municipal general obligation bonds		22,985,000		1,097,000		0			24,082,000
Municipal revenue bonds		2,747,000		126,000		0			2,873,000
Mutual funds		1,330,000		57,000		0			1,387,000
	$	122,487,000	$	5,114,000	$	(10,000	)	$	127,591,000
December 31, 2011
U.S. Government agency debt obligations	$	86,783,000	$	1,872,000	$	(59,000	)	$	88,596,000
Mortgage-backed securities		31,851,000		2,759,000		0			34,610,000
Michigan Strategic Fund bonds		16,700,000		0		0			16,700,000
Municipal general obligation bonds		26,212,000		1,097,000		0			27,309,000
Municipal revenue bonds		4,300,000		123,000		0			4,423,000
Mutual funds		1,312,000		42,000		0			1,354,000
	$	167,158,000	$	5,893,000	$	(59,000	)	$	172,992,000

Securities with unrealized losses aggregated by investment category and length of time

	Less than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
June 30, 2012
U.S. Government agency debt obligations	$	4,836,000	$	(10,000	)	$	0	$	0		$	4,836,000	$	(10,000	)
Mortgage-backed securities		0		0			0		0			0		0
Michigan Strategic Fund bonds		0		0			0		0			0		0
Municipal general obligation bonds		0		0			0		0			0		0
Municipal revenue bonds		0		0			0		0			0		0
Mutual funds		0		0			0		0			0		0
	$	4,836,000	$	(10,000	)	$	0	$	0		$	4,836,000	$	(10,000	)
December 31, 2011
U.S. Government agency debt obligations	$	9,765,000	$	(33,000	)	$	9,526,000	$	(26,000	)	$	19,291,000	$	(59,000	)
Mortgage-backed securities		0		0			0		0			0		0
Michigan Strategic Fund bonds		0		0			0		0			0		0
Municipal general obligation bonds		0		0			0		0			0		0
Municipal revenue bonds		0		0			0		0			0		0
Mutual funds		0		0			0		0			0		0
	$	9,765,000	$	(33,000	)	$	9,526,000	$	(26,000	)	$	19,291,000	$	(59,000	)

Maturities of securities and their weighted average yields

	Weighted Average Yield			Amortized Cost		Fair Value
Due in 2012		NA		$	0	$	0
Due in 2013 through 2017		5.03	%		6,807,000		7,118,000
Due in 2018 through 2022		3.83			23,302,000		23,756,000
Due in 2023 and beyond		4.73			53,908,000		55,917,000
Mortgage-backed securities		5.16			25,780,000		28,053,000
Michigan Strategic Fund bonds		1.77			11,360,000		11,360,000
Mutual funds		2.50			1,330,000		1,387,000
		4.38	%	$	122,487,000	$	127,591,000