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Securities (Tables)

9 Months Ended

Sep. 30, 2014

Securities Tables

Book values and approximate fair values of investment securities

The book values and approximate fair values of investment securities at September 30, 2014 and December 31, 2013 are summarized as follows:

		September 30, 2014																December 31, 2013
		Amortized				Fair				Unrealized								Amortized				Fair				Unrealized
($ in thousands)		Cost				Value				Gains				(Losses)				Cost				Value				Gains				(Losses)
Securities available for sale:
Government-sponsored enterprise securities		$	18,546				18,465				−				(81	)			18,432				18,245				32				(219	)
Mortgage-backed securities			135,406				133,769				402				(2,039	)			148,646				147,187				1,415				(2,874	)
Corporate bonds			1,000				890				−				(110	)			3,999				3,598				44				(445	)
Equity securities			6,105				6,130				39				(14	)			3,984				4,011				40				(13	)
Total available for sale		$	161,057				159,254				441				(2,244	)			175,061				173,041				1,531				(3,551	)
Securities held to maturity:
State and local governments		$	53,821				57,601				3,780				−				53,995				56,700				2,709				(4	)

Schedule of information regarding securities with unrealized losses

The following table presents information regarding securities with unrealized losses at September 30, 2014:

($ 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		$	9,541				4				5,923				77				15,464				81
Mortgage-backed securities			46,924				304				45,606				1,735				92,530				2,039
Corporate bonds			−				−				890				110				890				110
Equity securities			−				−				16				14				16				14
State and local governments			−				−				−				−				−				−
Total temporarily impaired securities		$	56,465				308				52,435				1,936				108,900				2,244

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

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

The book values and approximate fair values of investment securities at September 30, 2014, by contractual maturity, are summarized in the table below.  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			18,546				18,465					10,948				11,743
Due after five years but within ten years			−				−					38,417				41,151
Due after ten years			1,000				890					4,456				4,707
Mortgage-backed securities			135,406				133,769					−				−
Total debt securities			154,952				153,124					53,821				57,601
Equity securities			6,105				6,130					−				−
Total securities		$	161,057				159,254					53,821				57,601

X

- Definition

Schedule of investment securities which includes, but is not limited to, amortized cost basis, fair value, and gross unrealized gain (loss) values by type of security.

+ References

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- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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- Definition

For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563

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