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Securities (Tables)
 12 Months Ended
Dec. 31, 2013
Securities Tables  
Book values and approximate fair values of investment securities

The book values and approximate fair values of investment securities at December 31, 2013 and 2012 are summarized as follows:

 

    2013     2012  
    Amortized     Fair     Unrealized     Amortized     Fair     Unrealized  
($ in thousands)   Cost     Value     Gains     (Losses)     Cost     Value     Gains     (Losses)  
                                                 
Securities available for sale:                                                                
  Government-sponsored enterprise securities   $ 18,432       18,245       32       (219 )     11,500       11,596       96       —  
  Mortgage-backed securities     148,646       147,187       1,415       (2,874 )     143,539       146,926       3,717       (330 )
  Corporate bonds     3,999       3,598       44       (445 )     3,998       3,813       75       (260 )
  Equity securities     3,984       4,011       40       (13 )     5,026       5,017       16       (25 )
Total available for sale   $ 175,061       173,041       1,531       (3,551 )     164,063       167,352       3,904       (615 )
                                                                 
Securities held to maturity:                                                                
  State and local governments   $ 53,995       56,700       2,709       (4 )     56,064       61,496       5,432       —
Schedule of information regarding securities with unrealized losses

The following table presents information regarding securities with unrealized losses at December 31, 2013:

 

 

($ in thousands)

   Securities in an Unrealized
Loss Position for
Less than 12 Months		     Securities in an Unrealized
Loss Position for
More than 12 Months		     Total  
    Fair Value     Unrealized
Losses		     Fair Value     Unrealized
Losses		     Fair Value     Unrealized
Losses		  
  Government-sponsored enterprise securities   $ 12,212       219       —       —       12,212       219  
  Mortgage-backed securities     64,937       1,675       17,979       1,199       82,916       2,874  
  Corporate bonds     —       —       555       445       555       445  
  Equity securities     —       —       22       13       22       13  
  State and local governments     992       4       —       —       992       4  
      Total temporarily impaired securities   $ 78,141       1,898       18,556       1,657       96,697       3,555  


The following table presents information regarding securities with unrealized losses at December 31, 2012:

 

 

($ in thousands)

   Securities in an Unrealized
Loss Position for
Less than 12 Months		     Securities in an Unrealized
Loss Position for
More than 12 Months		     Total  
    Fair Value     Unrealized
Losses		     Fair Value     Unrealized
Losses		     Fair Value     Unrealized
Losses		  
  Government-sponsored enterprise securities   $ —       —       —       —       —       —  
  Mortgage-backed securities     26,330       330       —       —       26,330       330  
  Corporate bonds     —       —       740       260       740       260  
  Equity securities     —       —       30       25       30       25  
  State and local governments     —       —       —       —       —       —  
      Total temporarily impaired securities   $ 26,330       330       770       285       27,100       615
Investment in corporate bonds

At December 31, 2013, the Company’s $3.6 million investment in corporate bonds was comprised of the following:

 

($ in thousands)
 
Issuer		   S&P Issuer
Ratings		   Maturity
Date		   Amortized
Cost		     Market
Value		  
First Citizens Bancorp (South Carolina) Bond   Not Rated   4/1/15   $ 2,999       3,043  
First Citizens Bancorp (South Carolina) Trust Preferred Security   Not Rated   6/15/34     1,000       555  
     Total investment in corporate bonds           $ 3,999       3,598  

 
Schedule of book values and approximate fair values of investment securities by contractual maturity

Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

 

    Securities Available for Sale     Securities Held to Maturity  
    Amortized     Fair     Amortized     Fair  
($ in thousands)   Cost     Value     Cost     Value  
                         
Debt securities                                
Due within one year   $ —       —     $ —       —  
Due after one year but within five years     17,499       17,412       5,422       5,822  
Due after five years but within ten years     3,932       3,876       35,346       37,153  
Due after ten years     1,000       555       13,227       13,725  
Mortgage-backed securities     148,646       147,187       —       —  
Total debt securities     171,077       169,030       53,995       56,700  
                                 
Equity securities     3,984       4,011       —       —  
Total securities   $ 175,061       173,041     $ 53,995       56,700