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Investment securities available-for-sale | 6 Months Ended
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Jun. 30, 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 June 30, 2012 and December 31, 2011 are summarized as follows:
June 30, 2012 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Government-sponsored enterprises |  | $ | 29,524 |  |  | $ | 3,491 |  |  |  |  |  | $ | 33,015 |
State and municipals: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable |  |  | 16,623 |  |  |  | 1,859 |  |  |  |  |  |  | 18,482 |
Tax-exempt |  |  | 33,551 |  |  |  | 1,955 |  |  | $ | 9 |  |  |  | 35,497 |
Corporate debt securities |  |  | 4,040 |  |  |  | 45 |  |  |  | 594 |  |  |  | 3,491 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  |  | 15,288 |  |  |  | 189 |  |  |  | 30 |  |  |  | 15,447 |
U.S. Government-sponsored enterprises |  |  | 22,175 |  |  |  | 135 |  |  |  | 116 |  |  |  | 22,194 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common |  |  | 487 |  |  |  | 22 |  |  |  | 39 |  |  |  | 470 |
Total |  | $ | 121,688 |  |  | $ | 7,696 |  |  | $ | 788 |  |  | $ | 128,596 |
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 June 30, 2012, is summarized as follows:
June 30, 2012 |  | Fair Value |
Within one year |  | $ | 250 |
After one but within five years |  |  | 14,855 |
After five but within ten years |  |  | 35,483 |
After ten years |  |  | 39,897 |
|  |  | 90,485 |
Mortgage-backed securities |  |  | 37,641 |
Total |  | $ | 128,126 |
Securities with a carrying value of $89,099 and $105,135 at June 30, 2012 and December 31, 2011, respectively, were pledged to secure public deposits and repurchase agreements as required or permitted by law. At June 30, 2012 and December 31, 2011, there were no securities of any individual issuer, except for U.S. Government agencies and sponsored enterprises, which 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 June 30, 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 |
June 30, 2012 |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
U.S. Government-sponsored enterprises |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipals: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tax-Exempt |  | $ | 1,176 |  |  | $ | 6 |  |  | $ | 300 |  |  | $ | 3 |  |  | $ | 1,476 |  |  | $ | 9 |
Corporate debt securities |  |  |  |  |  |  |  |  |  |  | 2,417 |  |  |  | 594 |  |  |  | 2,417 |  |  |  | 594 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  |  | 3,538 |  |  |  | 13 |  |  |  | 2,801 |  |  |  | 17 |  |  |  | 6,339 |  |  |  | 30 |
U.S. Government-sponsored enterprises |  |  | 9,294 |  |  |  | 89 |  |  |  | 2,651 |  |  |  | 27 |  |  |  | 11,945 |  |  |  | 116 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common |  |  |  |  |  |  |  |  |  |  | 98 |  |  |  | 39 |  |  |  | 98 |  |  |  | 39 |
Total |  | $ | 14,008 |  |  | $ | 108 |  |  | $ | 8,267 |  |  | $ | 680 |  |  | $ | 22,275 |  |  | $ | 788 |
|  | 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 20 investment securities, consisting of three tax-exempt state and municipal obligations, two corporate debt securities, 13 mortgage-backed securities and two common equity securities that were in unrealized loss positions at June 30, 2012. Of these securities, one state and municipal obligation, two corporate debt securities, four mortgage-backed securities and two 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 June 30, 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, which 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.

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