INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2013

INVESTMENTS

Schedule of investment securities available for sale

Investment securities available for sale are summarized as follows (in thousands):

At March 31, 2013	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State, county, and municipal securities	$	36,037	$	2,574	$	—	$	38,611
Mortgage-backed securities	81,055		1,238		159		82,134
Corporate securities	9,760		213		20		9,953
Totals	$	126,852	$	4,025	$	179	$	130,698

At December 31, 2012	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State, county, and municipal securities	$	36,977	$	2,887	$	—	$	39,864
Mortgage-backed securities	79,025		1,357		134		80,248
Corporate securities	9,746		135		127		9,754
Totals	$	125,748	$	4,379	$	261	$	129,866

Schedule of investment securities held to maturity

Investment securities held to maturity are summarized as follows (in thousands):

At March 31, 2013	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State, county, and municipal securities	$	926	$	16	$	—	$	942

At December 31, 2012	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State, county, and municipal securities	$	1,356	$	24	$	—	$	1,380

Schedule of amortized costs and fair values of investment securities, by contractual maturity

The amortized costs and fair values of investment securities at March 31, 2013, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with and without call or prepayment penalties (in thousands).

	Available for Sale				Held to Maturity
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
Due in one year or less	$	—	$	—	$	—	$	—
Due after one year through five years	12,267		12,600		926		942
Due after five years through ten years	26,701		28,396		—		—
Due after ten years	87,884		89,702		—		—
	$	126,852	$	130,698	$	926	$	942

Schedule of investments' gross unrealized losses and fair value, aggregated by investment category and length of time

Except as explicitly identified below, all unrealized losses on investment securities are considered by management to be temporarily impaired given the credit ratings on these investment securities and the short duration of the unrealized loss (in thousands).

At March 31, 2013

Securities Available for Sale

	Securities in a loss position for					Securities in a loss position for
	less than twelve months					twelve months or more					Total
			Unrealized					Unrealized					Unrealized
	Fair value		losses			Fair value		losses			Fair value		losses
Mortgage-backed securities	$	20,757	$	(159	)	$	—	$	—		$	20,757	$	(159	)
Corporate	—		—			1,980		(20		)	1,980		(20		)
Total	$	20,757	$	(159	)	$	1,980	$	(20	)	$	22,737	$	(179	)

Securities Held to Maturity

There were no securities classified as held to maturity in an unrealized loss position at March 31, 2013.

At December 31, 2012

Securities Available for Sale

	Securities in a loss position for					Securities in a loss position for
	less than twelve months					twelve months or more					Total
			Unrealized					Unrealized					Unrealized
	Fair value		losses			Fair value		losses			Fair value		losses
Mortgage-backed securities	$	17,834	$	(134	)	$	—	$	—		$	17,834	$	(134	)
Corporate	1,985		(16		)	3,889		(111		)	5,874		(127		)
Total	$	19,819	$	(150	)	$	3,889	$	(111	)	$	23,708	$	(261	)

Securities Held to Maturity

There were no securities classified as held to maturity in an unrealized loss position at December 31, 2012.