Investments (Tables)

9 Months Ended

Sep. 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 September 30, 2012 are as follows:

Available-for-sale securities:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate debt securities	$	31,394	$	2,293	$	107	$	33,580
Trust preferred securities	537		32		—		569
Mortgage backed securities	9,055		213		64		9,204
Private label mortgage backed securities	8,184		334		—		8,518
Obligations of states and political subdivisions	15,429		1,358		10		16,777
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	7,660		500		15		8,145
Total fixed maturities	72,259		4,730		196		76,793
Equity securities	3,191		2,546		477		5,260
Total	$	75,450	$	7,276	$	673	$	82,053

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 September 30, 2012 are as follows:

Held-to-maturity securities:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Mortgage backed securities	$	1,410	$	115	$	—	$	1,525
Obligations of states and political subdivisions	145		3		—		148
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	194		18		—		212
Total	$	1,749	$	136	$	—	$	1,885

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 September 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	$	1,620	$	1,685
Due after one year through five years	13,388		14,612
Due after five years through ten years	22,414		23,943
Due after ten years	34,837		36,553
Total	$	72,259	$	76,793
Held-to-maturity securities:
Due in one year or less	$	—	$	—
Due after one year through five years	164		168
Due after five years through ten years	410		442
Due after ten years	1,175		1,275
Total	$	1,749	$	1,885

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 September 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
September 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	$	2,845	$	34	$	1,626	$	73	$	4,471	$	107	10
Trust preferred securities	—		—		—		—		—		—		—
Mortgage backed securities	1,956		64		—		—		1,956		64		5
Private label mortgage backed securities	—		—		—		—		—		—		—
Obligations of state and political subdivisions	1,183		10		—		—		1,183		10		3
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	1,030		5		251		10		1,281		15		4
Equity securities	—		—		809		477		809		477		1
	$	7,014	$	113	$	2,686	$	560	$	9,700	$	673	23

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)
	Nine-month period ended September 30, 2012			Year Ended December 31, 2011
	(unaudited)
Net change in unrealized appreciation on available-for-sale securities before deferred tax	$	(107	)	$	1,792
Deferred income tax	36			(534		)
Net change in unrealized appreciation on available-for-sale securities	$	(71	)	$	1,258