Securities Available-for-sale

12 Months Ended

Dec. 31, 2013

Investments, Debt and Equity Securities [Abstract]

Securities Available-for-sale

SECURITIES AVAILABLE-FOR-SALE

The carrying amount of securities available-for-sale and their approximate fair values at December 31, 2013 and 2012 were as follows:

	December 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses (less than 1 year)			Gross Unrealized Losses (more than 1 year)			Estimated Fair Values
Securities available-for-sale
Federal agency securities	$	12,297	$	21	$	(244	)	$	(407	)	$	11,667
Municipal bonds	13,347		111		(206		)	(72		)	13,180
Corporate securities	4,005		2		(59		)	(10		)	3,938
Mortgage-backed securities	27,952		66		(564		)	—			27,454
Total securities available-for-sale	$	57,601	$	200	$	(1,073	)	$	(489	)	$	56,239
	December 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses (less than 1 year)			Gross Unrealized Losses (more than 1 year)			Estimated Fair Values
Securities available-for-sale
Federal agency securities	$	12,287	$	281	$	(16	)	$	—		$	12,552
Municipal bonds	8,863		202		(5		)	—			9,060
Corporate securities	2,492		—		(4		)	—			2,488
Mortgage-backed securities	18,766		447		—			—			19,213
Total securities available-for-sale	$	42,408	$	930	$	(25	)	$	—		$	43,313

There were 31 investments with unrealized losses of less than one year as of December 31, 2013 and seven investments with unrealized losses of more than one year. There were nine investments with unrealized losses of less than one year as of December 31, 2012 and seven investments with unrealized losses of more than one year. The unrealized losses associated with these investments are believed to be caused by changing market conditions that are considered to be temporary and the Company has the intent and ability to hold these securities until recovery, and is not likely to be required to sell these securities. No other-than-temporary impairment write-downs were recorded for the years ended December 31, 2013 and 2012.

NOTE 2 – SECURITIES AVAILABLE-FOR-SALE (Continued)

The contractual maturities of securities available-for-sale at December 31, 2013 and 2012 were as follows:

	December 31, 2013				December 31, 2012
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
No contractual maturity	$	—	$	—	$	—	$	—
Due in one year or less	2,270		2,282		505		508
Due in one year to five years	5,323		5,340		6,969		7,050
Due in five years to ten years	20,713		19,905		17,045		17,423
Due in over ten years	29,295		28,712		17,889		18,332
Total	$	57,601	$	56,239	$	42,408	$	43,313

The proceeds and resulting gains and losses, computed using specific identification, from sales of investment securities were as follows for the years ended:

	December 31, 2013
	Proceeds		Gross Gains		Gross Losses
Securities available-for-sale	$	8,786	$	264	$	—
	December 31, 2012
	Proceeds		Gross Gains		Gross Losses
Securities available-for-sale	$	4,348	$	165	$	—