Investments (Tables)

6 Months Ended

Jun. 30, 2012

Investments [Abstract]

Schedule of Amortized Cost and Aggregate Fair Values of Investments in Available-for-Sale Securities

The amortized cost and aggregate fair values of investments in available-for-sale securities as of June 30, 2012 are as follows:

Available-for-sale securities:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate debt securities	$	30,876	$	1,703	$	233	$	32,346
Trust preferred securities	537		—		2		535
Mortgage backed securities	6,640		215		22		6,833
Private label mortgage backed securities	8,354		212		5		8,561
Obligations of states and political subdivisions	14,334		1,187		—		15,521
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	8,195		465		10		8,650
Total fixed maturities	68,936		3,782		272		72,446
Equity securities	4,559		3,859		543		7,875
Total	$	73,495	$	7,641	$	815	$	80,321

The amortized cost and aggregate fair values of investments in available-for-sale securities as of December 31, 2011 are as follows:

Available-for-sale securities:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate debt securities	$	19,907	$	1,340	$	267	$	20,980
Trust preferred securities	537		—		58		479
Mortgage backed securities	7,587		307		23		7,871
Private label mortgage backed securities	9,716		199		62		9,853
Obligations of states and political subdivisions	18,355		1,142		15		19,482
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	13,878		534		3		14,409
Total fixed maturities	69,980		3,522		428		73,074
Equity securities	4,931		4,206		590		8,547
Total	$	74,911	$	7,728	$	1,018	$	81,621

Schedule of Amortized Sost and Aggregate Fair Values of Investments in Held-to-Maturity Securities

The amortized cost and aggregate fair values of investments in held-to-maturity securities as of June 30, 2012 are as follows:

Held-to-maturity securities:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Mortgage backed securities	$	1,619	$	121	$	—	$	1,740
Private label mortgage backed securities	—		—		—		—
Obligations of states and political subdivisions	515		27		—		542
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	202		17		—		219
Total	$	2,336	$	165	$	—	$	2,501

The amortized cost and aggregate fair values of investments in held-to-maturity securities as of December 31, 2011 are as follows:

Held-to-maturity securities:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Mortgage backed securities	$	2,026	$	125	$	—	$	2,151
Private label mortgage backed securities	55		1		—		56
Obligations of states and political subdivisions	996		50		—		1,046
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	226		18		—		244
Total	$	3,303	$	194	$	—	$	3,497

Schedule of Amortized Cost and Aggregate Fair Value of Debt Securities, by Contractual Maturity

The amortized cost and aggregate fair value of debt securities at June 30, 2012, by contractual maturity, are presented in the following table.  Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	(Dollars in Thousands)
	Amortized Cost		Fair Value
Available-for-sale securities:
Due in one year or less	$	1,115	$	1,134
Due after one year through five years	14,420		15,489
Due after five years through ten years	21,148		22,329
Due after ten years	32,253		33,494
Total	$	68,936	$	72,446
Held-to-maturity securities:
Due in one year or less	$	—	$	—
Due after one year through five years	516		544
Due after five years through ten years	473		507
Due after ten years	1,347		1,450
Total	$	2,336	$	2,501

Schedule of Securities Available-for-Sale with Unrealized Losses

A summary of securities available-for-sale with unrealized losses as of December 31, 2011, along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows:

	Less than 12 months				12 months or longer				Total
December 31, 2011	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Total Securities in a Loss Position
Fixed maturities
Corporate debt securities	$	4,703	$	166	$	899	$	101	$	5,602	$	267	15
Trust preferred securities	479		58		—		—		479		58		1
Mortgage backed securities	883		21		198		2		1,081		23		3
Private label mortgage backed securities	1,860		15		1,094		47		2,954		62		9
Obligations of state and political subdivisions	—		—		1,803		15		1,803		15		5
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	260		3		—		—		260		3		1
Equity securities	391		49		802		541		1,193		590		6
	$	8,576	$	312	$	4,796	$	706	$	13,372	$	1,018	40

A summary of securities available-for-sale with unrealized losses as of June 30, 2012, along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows:

	Less than 12 months				12 months or longer				Total
June 30, 2012	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Total Securities in a Loss Position
Fixed maturities
Corporate debt securities	$	8,368	$	81	$	2,647	$	152	$	11,015	$	233	27
Trust preferred securities	—		—		535		2		535		2		1
Mortgage backed securities	1,155		22		—		—		1,155		22		4
Private label mortgage backed securities	—		—		117		5		117		5		1
Obligations of state and political subdivisions	—		—		—		—		—		—		0
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	608		2		254		8		862		10		3
Equity securities	184		8		1,050		535		1,234		543		5
	$	10,315	$	113	$	4,603	$	702	$	14,918	$	815	41

Schedule of Net Change in Unrealized Appreciation

An analysis of the net change in unrealized appreciation on available-for-sale securities follows:

	(Dollars in thousands)
	Six-month period ended June 30, 2012			Year Ended December 31, 2011
	(unaudited)
Net change in unrealized appreciation on available-for-sale securities before deferred tax	$	115		$	1,792
Deferred income tax	(39		)	(534		)
Net change in unrealized appreciation on available-for-sale securities	$	76		$	1,258