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Investment securities available-for-sale
 3 Months Ended
Mar. 31, 2012
Investment securities available-for-sale [Abstract]  
Investment securities available-for-sale
3.  Investment securities available-for-sale:

The amortized cost and fair value of investment securities available-for-sale aggregated by investment category at March 31, 2012 and December 31, 2011 are summarized as follows:

March 31, 2012
 
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair
Value
 
              
U.S. Government-sponsored enterprises
 $29,598  $2,879     $32,477 
State and municipals:
               
Taxable
  17,634   1,333      18,967 
Tax-exempt
  35,155   1,546  $58   36,643 
Corporate debt securities
  4,041   53   631   3,463 
Mortgage-backed securities:
                
U.S. Government agencies
  16,089   170   58   16,201 
U.S. Government-sponsored enterprises
  24,520   96   101   24,515 
Equity securities:
                
Preferred
                
Common
  629   25   38   616 
Total
 $127,666  $6,102  $886  $132,882 
                  
December 31, 2011
 
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair
Value
 
                 
U.S. Government-sponsored enterprises
 $29,671  $3,105      $32,776 
State and municipals:
                
Taxable
  18,120   1,608       19,728 
Tax-exempt
  38,217   1,693  $224   39,686 
Corporate debt securities
  4,462   330   942   3,850 
Mortgage-backed securities:
                
U.S. Government agencies
  16,827   185   100   16,912 
U.S. Government-sponsored enterprises
  26,396   66   199   26,263 
Equity securities:
                
Preferred
  54   63       117 
Common
  629   22   84   567 
Total
 $134,376  $7,072  $1,549  $139,899 

 
The maturity distribution of the fair value, which is the net carrying amount, of the debt securities classified as available-for-sale at March 31, 2012, is summarized as follows:

March 31, 2012
 
Fair
Value
 
Within one year
 $496 
After one but within five years
  13,341 
After five but within ten years
  33,601 
After ten years
  44,112 
    91,550 
Mortgage-backed securities
  40,716 
Total
 $132,266 

Securities with a carrying value of $103,208 and $105,135 at March 31, 2012 and December 31, 2011, respectively, were pledged to secure public deposits and repurchase agreements as required or permitted by law.
 
At March 31, 2012 and December 31, 2011, there were no securities of any individual issuer, except for U.S. Government agencies and sponsored enterprises, that exceeded 10.0 percent of stockholders' equity.

The fair value and gross unrealized losses of investment securities available-for-sale with unrealized losses for which an other-than-temporary impairment ("OTTI") has not been recognized at March 31, 2012 and December 31, 2011, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, are summarized as follows:

   
Less Than 12 Months
  
12 Months or More
  
Total
 
March 31, 2012
 
Fair Value
  
Unrealized Losses
  
Fair Value
  
Unrealized Losses
  
Fair Value
  
Unrealized Losses
 
U.S. Government-sponsored enterprises
                  
State and municipals:
                  
Taxable
                  
Tax-Exempt
 $1,233  $49  $295  $9  $1,528  $58 
Corporate debt securities
          2,381   631   2,381   631 
Mortgage-backed securities:
                        
U.S. Government agencies
  10,345   58           10,345   58 
U.S. Government-sponsored enterprises
  14,386   101           14,386   101 
Equity securities:
                        
Preferred
                        
Common
          241   38   241   38 
Total
 $25,964  $208  $2,917  $678  $28,881  $886 
 

 
   
Less Than 12 Months
  
12 Months or More
  
Total
 
December 31, 2011
 
Fair Value
  
Unrealized Losses
  
Fair Value
  
Unrealized Losses
  
Fair Value
  
Unrealized Losses
 
U.S. Government-sponsored enterprises
                  
State and municipals:
                  
Taxable
                  
Tax-Exempt
 $1,142  $39  $2,859  $185  $4,001  $224 
Corporate debt securities
  970   61   2,130   881   3,100   942 
Mortgage-backed securities:
                        
U.S. Government agencies
  10,785   100           10,785   100 
U.S. Government-sponsored enterprises
  21,825   199           21,825   199 
Equity securities:
                        
Preferred
                        
Common
          195   84   195   84 
Total
 $34,722  $399  $5,184  $1,150  $39,906  $1,549 

 
The Company had 26 investment securities, consisting of four tax-exempt state and municipal obligations, two corporate debt securities, 17 mortgage-backed securities and three common equity securities, that were in unrealized loss positions at March 31, 2012.  Of these securities, one state and municipal obligation, two corporate debt securities and each of the common equity securities were in continuous unrealized loss positions for 12 months or more.  The unrealized losses on the common equity securities were a direct reflection of reductions in stock values in the financial industry sector, as a whole, and was not a result of credit or other issues that would cause the Company to recognize an OTTI charge.  Management does not consider the unrealized losses on the debt securities, as a result of changes in interest rates, to be OTTI based on historical evidence that indicates the cost of these securities is recoverable within a reasonable period of time in relation to normal cyclical changes in the market rates of interest. Moreover, because there has been no material change in the credit quality of the issuers or other events or circumstances that may cause a significant adverse impact on the fair value of these securities, and management does not intend to sell these securities and it is unlikely that the Company will be required to sell these securities before recovery of their amortized cost basis, which may be maturity, the Company does not consider the unrealized losses to be OTTI at March 31, 2012.

In comparison, the Company had 31 investment securities, consisting of six tax-exempt state and municipal obligations, three corporate debt securities, 18 mortgage-backed securities and four common equity securities, that were in unrealized loss positions at December 31, 2011.  Of these securities, four state and municipal obligations, two corporate debt securities and each of the common equity securities were in continuous unrealized loss positions for 12 months or more.