Investment Securities - Available-for-Sale (Tables)

3 Months Ended

Mar. 31, 2013

Investment Securities - Available-for-Sale [Abstract]

Amortized Cost and Estimated Fair Value of Investment Securities

The amortized cost and estimated fair value of investment securities are summarized as follows:

	March 31, 2013
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Debt investment securities:
US Treasury, agencies and GSEs	$	19,953	$	15	$	(34	)	$	19,934
State and political subdivisions		25,540		864		(93	)		26,311
Corporate		21,774		420		(341	)		21,853
Residential mortgage-backed - US agency		53,440		1,056		(149	)		54,347
Residential mortgage-backed - private label		261		8		-			269
Total		120,968		2,363		(617	)		122,714
Equity investment securities:
Mutual funds:
Ultra short mortgage fund		1,286		-		-			1,286
Large cap equity fund		905		303		-			1,208
Other mutual funds		183		128		-			311
Common stock - financial services industry		420		16		-			436
Total		2,794		447		-			3,241
Total investment securities	$	123,762	$	2,810	$	(617	)	$	125,955

	December 31, 2012
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Debt investment securities:
US Treasury, agencies and GSEs	$	6,175	$	16	$	(8	)	$	6,183
State and political subdivisions		26,413		1,065		(7	)		27,471
Corporate		22,942		468		(404	)		23,006
Residential mortgage-backed - US agency		47,113		1,139		(1	)		48,251
Residential mortgage-backed - private label		296		9		-			305
Total		102,939		2,697		(420	)		105,216
Equity investment securities:
Mutual funds:
Ultra short mortgage fund		1,286		5		-			1,291
Large cap equity fund		905		176		-			1,081
Other mutual funds		183		136		-			319
Common stock - financial services industry		420		12		-			432
Total		2,794		329		-			3,123
Total investment securities	$	105,733	$	3,026	$	(420	)	$	108,339

Amortized Cost and Estimated Fair Value of Debt Investments by Contractual Maturity

The amortized cost and estimated fair value of debt investments at March 31, 2013 by contractual maturity are shown below.  Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties.

	Amortized		Estimated
	Cost		Fair Value
(In thousands)
Due in one year or less	$	7,032	$	7,062
Due after one year through five years		27,261		27,689
Due after five years through ten years		15,308		15,674
Due after ten years		17,666		17,673
Mortgage-backed securities		53,701		54,616
Totals	$	120,968	$	122,714

Investment Securities' Gross Unrealized Losses and Fair Value by Investment Category and Length of Time That individual Securities Have Continuous Unrealized Loss Position

The Company's investment securities' gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows:

										March 31, 2013
			Less than Twelve Months							Twelve Months or More							Total
	Number of							Number of							Number of
	Individual		Unrealized			Fair		Individual		Unrealized			Fair		Individual		Unrealized			Fair
	Securities		Losses			Value		Securities		Losses			Value		Securities		Losses			Value
(Dollars in thousands)
US Treasury, agencies and GSE's		13	$	(34	)	$	14,858		-	$	-		$	-		13	$	(34	)	$	14,858
State and political subdivisions		7		(93	)		3,888		-		-			-		7		(93	)		3,888
Corporate		1		(6	)		403		2		(335	)		1,635		3		(341	)		2,038
Residential mortgage-backed - US agency		12		(149	)		13,696		-		-			-		12		(149	)		13,696
Totals		33	$	(282	)	$	32,845		2	$	(335	)	$	1,635		35	$	(617	)	$	34,480
										December 31, 2012
			Less than Twelve Months							Twelve Months or More							Total
	Number of							Number of							Number of
	Individual		Unrealized			Fair		Individual		Unrealized			Fair		Individual		Unrealized			Fair
	Securities		Losses			Value		Securities		Losses			Value		Securities		Losses			Value
(Dollars in thousands)
US Treasury, agencies and GSE's		1	$	(8	)	$	992		-	$	-		$	-		1	$	(8	)	$	992
State and political subdivisions		8		(7	)		2,008		-		-			-		8		(7	)		2,008
Corporate		2		(14	)		974		2		(390	)		1,580		4		(404	)		2,554
Residential mortgage-backed - US agency		2		(1	)		1,411		-		-			-		2		(1	)		1,411
Totals		13	$	(30	)	$	5,385		2	$	(390	)	$	1,580		15	$	(420	)	$	6,965

Gross Realized Gains (Losses) on Sale of Securities

Gross realized gains on sales of securities for the indicated periods are detailed below:

	For the three months
	ended March 31,
(In thousands)	2013		2012
Realized gains	$	39	$	112
Realized losses		-		-
	$	39	$	112