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Securities (Tables) | 6 Months Ended
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Jun. 30, 2013
Securities [Abstract] |
Amortized cost and fair value of available for sale securities and related pre-tax gross unrealized gains and losses | The amortized cost and fair value of available for sale securities and the related pre-tax gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are as follows:
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
June 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency debt obligations |  | $ | 89,941,000 |  |  | $ | 535,000 |  |  | $ | (3,527,000 | ) |  | $ | 86,949,000 |
Mortgage-backed securities |  |  | 15,173,000 |  |  |  | 1,215,000 |  |  |  | 0 |  |  |  | 16,388,000 |
Michigan Strategic Fund bonds |  |  | 6,515,000 |  |  |  | 0 |  |  |  | 0 |  |  |  | 6,515,000 |
Municipal general obligation bonds |  |  | 17,397,000 |  |  |  | 596,000 |  |  |  | 0 |  |  |  | 17,993,000 |
Municipal revenue bonds |  |  | 878,000 |  |  |  | 47,000 |  |  |  | 0 |  |  |  | 925,000 |
Mutual funds |  |  | 1,368,000 |  |  |  | 0 |  |  |  | (4,000 | ) |  |  | 1,364,000 |
|  | $ | 131,272,000 |  |  | $ | 2,393,000 |  |  | $ | (3,531,000 | ) |  | $ | 130,134,000 |
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency debt obligations |  | $ | 78,447,000 |  |  | $ | 1,039,000 |  |  | $ | (388,000 | ) |  | $ | 79,098,000 |
Mortgage-backed securities |  |  | 20,182,000 |  |  |  | 1,814,000 |  |  |  | 0 |  |  |  | 21,996,000 |
Michigan Strategic Fund bonds |  |  | 11,255,000 |  |  |  | 0 |  |  |  | 0 |  |  |  | 11,255,000 |
Municipal general obligation bonds |  |  | 21,700,000 |  |  |  | 1,043,000 |  |  |  | 0 |  |  |  | 22,743,000 |
Municipal revenue bonds |  |  | 1,726,000 |  |  |  | 91,000 |  |  |  | 0 |  |  |  | 1,817,000 |
Mutual funds |  |  | 1,354,000 |  |  |  | 51,000 |  |  |  | 0 |  |  |  | 1,405,000 |
|  | $ | 134,664,000 |  |  | $ | 4,038,000 |  |  | $ | (388,000 | ) |  | $ | 138,314,000 |
Securities with unrealized losses aggregated by investment category and length of time | Securities with unrealized losses at June 30, 2013 and December 31, 2012, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows:
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total |
|  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
June 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency debt obligations |  | $ | 72,418,000 |  |  | $ | (3,527,000 | ) |  | $ | 0 |  |  | $ | 0 |  |  | $ | 72,418,000 |  |  | $ | (3,527,000 | )
Mortgage-backed securities |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Michigan Strategic Fund bonds |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Municipal general obligation bonds |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Municipal revenue bonds |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Mutual funds |  |  | 1,364,000 |  |  |  | (4,000 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 1,364,000 |  |  |  | (4,000 | )
|  | $ | 73,782,000 |  |  | $ | (3,531,000 | ) |  | $ | 0 |  |  | $ | 0 |  |  | $ | 73,782,000 |  |  | $ | (3,531,000 | )
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency debt obligations |  | $ | 33,555,000 |  |  | $ | (388,000 | ) |  | $ | 0 |  |  | $ | 0 |  |  | $ | 33,555,000 |  |  | $ | (388,000 | )
Mortgage-backed securities |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Michigan Strategic Fund bonds |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Municipal general obligation bonds |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Municipal revenue bonds |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Mutual funds |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
|  | $ | 33,555,000 |  |  | $ | (388,000 | ) |  | $ | 0 |  |  | $ | 0 |  |  | $ | 33,555,000 |  |  | $ | (388,000 | )
Maturities of securities and their weighted average yields | Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Weighted average yields are also reflected, with yields for municipal securities shown at their tax equivalent yield.
|  | Weighted Average Yield |  |  | Amortized Cost |  |  | Fair Value |
Due in 2013 |  |  | 4.99 | % |  | $ | 1,130,000 |  |  | $ | 1,134,000 |
Due in 2014 through 2018 |  |  | 4.99 |  |  |  | 4,650,000 |  |  |  | 4,785,000 |
Due in 2019 through 2023 |  |  | 3.18 |  |  |  | 28,545,000 |  |  |  | 28,060,000 |
Due in 2024 and beyond |  |  | 3.59 |  |  |  | 73,891,000 |  |  |  | 71,888,000 |
Mortgage-backed securities |  |  | 5.20 |  |  |  | 15,173,000 |  |  |  | 16,388,000 |
Michigan Strategic Fund bonds |  |  | 2.15 |  |  |  | 6,515,000 |  |  |  | 6,515,000 |
Mutual funds |  |  | 2.04 |  |  |  | 1,368,000 |  |  |  | 1,364,000 |
|  |  | 3.67 | % |  | $ | 131,272,000 |  |  | $ | 130,134,000 |

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + 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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27337-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27198-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 + Details
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