Securities (Tables)

3 Months Ended

Mar. 31, 2013

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
March 31, 2013
U.S. Government agency debt obligations	$	83,936,000	$	766,000	$	(690,000	)	$	84,012,000
Mortgage-backed securities		17,567,000		1,555,000		0			19,122,000
Michigan Strategic Fund bonds		11,070,000		0		0			11,070,000
Municipal general obligation bonds		21,702,000		906,000		0			22,608,000
Municipal revenue bonds		1,728,000		70,000		0			1,798,000
Mutual funds		1,361,000		42,000		0			1,403,000
	$	137,364,000	$	3,339,000	$	(690,000	)	$	140,013,000
December 31, 2012
U.S. Government agency debt obligations	$	78,447,000	$	1,039,000	$	(388,000	)	$	79,098,000
Mortgage-backed securities		20,182,000		1,814,000		0			21,996,000
Michigan Strategic Fund bonds		11,255,000		0		0			11,255,000
Municipal general obligation bonds		21,700,000		1,043,000		0			22,743,000
Municipal revenue bonds		1,726,000		91,000		0			1,817,000
Mutual funds		1,354,000		51,000		0			1,405,000
	$	134,664,000	$	4,038,000	$	(388,000	)	$	138,314,000

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
March 31, 2013
U.S. Government agency debt obligations	$	47,229,000	$	(690,000	)	$	0	$	0	$	47,229,000	$	(690,000	)
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
	$	47,229,000	$	(690,000	)	$	0	$	0	$	47,229,000	$	(690,000	)
December 31, 2012
U.S. Government agency debt obligations	$	33,555,000	$	(388,000	)	$	0	$	0	$	33,555,000	$	(388,000	)
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
	$	33,555,000	$	(388,000	)	$	0	$	0	$	33,555,000	$	(388,000	)

Maturities of securities and their weighted average yields

	Weighted Average Yield			Amortized Cost		Fair Value
Due in 2013		5.93	%	$	4,244,000	$	4,269,000
Due in 2014 through 2018		4.99			4,649,000		4,819,000
Due in 2019 through 2023		3.35			29,434,000		29,725,000
Due in 2024 and beyond		3.80			69,039,000		69,605,000
Mortgage-backed securities		5.18			17,567,000		19,122,000
Michigan Strategic Fund bonds		1.73			11,070,000		11,070,000
Mutual funds		2.04			1,361,000		1,403,000
		3.82	%	$	137,364,000	$	140,013,000