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SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2013
Investments Debt And Equity 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 |
September 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency debt obligations |  | $ | 97,460,000 |  |  | $ | 376,000 |  |  | $ | (8,542,000 | ) |  | $ | 89,294,000 |
Mortgage-backed securities |  |  | 13,382,000 |  |  |  | 1,129,000 |  |  |  | 0 |  |  |  | 14,511,000 |
Michigan Strategic Fund bonds |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Municipal general obligation bonds |  |  | 17,275,000 |  |  |  | 432,000 |  |  |  | (1,000 | ) |  |  | 17,706,000 |
Municipal revenue bonds |  |  | 877,000 |  |  |  | 40,000 |  |  |  | 0 |  |  |  | 917,000 |
Mutual funds |  |  | 1,376,000 |  |  |  | 0 |  |  |  | (11,000 | ) |  |  | 1,365,000 |
|  | $ | 130,370,000 |  |  | $ | 1,977,000 |  |  | $ | (8,554,000 | ) |  | $ | 123,793,000 |
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 September 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 |
September 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency debt obligations |  | $ | 70,142,000 |  |  | $ | (7,691,000 | ) |  | $ | 6,134,000 |  |  | $ | (851,000 | ) |  | $ | 76,276,000 |  |  | $ | (8,542,000 | )
Mortgage-backed securities |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Michigan Strategic Fund bonds |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Municipal general obligation bonds |  |  | 394,000 |  |  |  | (1,000 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 394,000 |  |  |  | (1,000 | )
Municipal revenue bonds |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Mutual funds |  |  | 1,365,000 |  |  |  | (11,000 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 1,365,000 |  |  |  | (11,000 | )
|  | $ | 71,901,000 |  |  | $ | (7,703,000 | ) |  | $ | 6,134,000 |  |  | $ | (851,000 | ) |  | $ | 78,035,000 |  |  | $ | (8,554,000 | )
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 |  |  | 6.94 | % |  | $ | 355,000 |  |  | $ | 355,000 |
Due in 2014 through 2018 |  |  | 4.99 |  |  |  | 4,651,000 |  |  |  | 4,751,000 |
Due in 2019 through 2023 |  |  | 3.17 |  |  |  | 31,126,000 |  |  |  | 29,918,000 |
Due in 2024 and beyond |  |  | 3.64 |  |  |  | 79,480,000 |  |  |  | 72,893,000 |
Mortgage-backed securities |  |  | 5.19 |  |  |  | 13,382,000 |  |  |  | 14,511,000 |
Mutual funds |  |  | 2.09 |  |  |  | 1,376,000 |  |  |  | 1,365,000 |
|  |  | 3.74 | % |  | $ | 130,370,000 |  |  | $ | 123,793,000 |

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