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SECURITIES
 3 Months Ended
Mar. 31, 2012
Securities  
SECURITIES

NOTE 2 – SECURITIES

 

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

 

       Gross   Gross   Estimated 
   Amortized   Unrealized   Unrealized   Fair 
March 31, 2012  Cost   Gains   Losses   Value 
                 
Securities available for sale                    
                     
U.S. Treasury securities and obligations of U.S. government corporations and agencies  $501   $11   $—   $512 
U.S. agency issued residential mortgage-backed securities   18,993    1,034    14    20,013 
U.S. agency issued residential collateralized mortgage obligations   41,358    872    19    42,211 
Privately issued residential collateralized mortgage obligations   352    10    —    362 
Other equity securities   47    —    —    47 
                     
Totals  $61,251   $1,927   $33   $63,145 
                     
Securities held to maturity                    
                     
Obligations of states and political subdivisions  $47,598   $1,571   $67   $49,102 
Nonrated trust preferred securities   1,491    38    122    1,407 
Nonrated senior subordinated notes   403    5    —    408 
                     
Totals  $49,492   $1,614   $189   $50,917 
                     

 

 

       Gross   Gross   Estimated 
   Amortized   Unrealized   Unrealized   Fair 
December 31, 2011  Cost   Gains   Losses   Value 
                 
Securities available for sale                    
                     
U.S. Treasury securities and obligations of U.S. government corporations and agencies  $501   $17   $—   $518 
U.S. agency issued residential mortgage-backed securities   18,754    1,068    6    19,816 
U.S. agency issued residential collateralized mortgage obligations   37,774    806    7    38,573 
Privately issued residential collateralized mortgage obligations   418    11    —    429 
Other equity securities   47    —    —    47 
                     
Totals  $57,494   $1,902   $13   $59,383 
                     
Securities held to maturity                    
                     
Obligations of states and political subdivisions  $47,404   $1,636   $30   $49,010 
Nonrated trust preferred securities   1,487    40    195    1,332 
Nonrated senior subordinated notes   403    6    —    409 
                     
Totals  $49,294   $1,682   $225   $50,751 

 

Securities with a fair value of $47,863 and $56,659 at March 31, 2012 and December 31, 2011, respectively, were pledged to secure public deposits, other borrowings, and for other purposes required by law.