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INVESTMENTS
 12 Months Ended
Dec. 31, 2012
Investments [Abstract]  
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]
5. INVESTMENTS

 

Below is a summary of the amortized cost and estimated market values of the Company’s investment securities as of December 31, 2012 and 2011. The estimated market values provided are Level 2 valuations as defined by ASC 820. See Note 4.

 

    2012     2011  
    Amortized
Cost		     Market
Value		     Amortized
Cost		     Market
Value		  
    (Dollars in thousands)  
Municipal bonds:                                
Current   $ 8,004     $ 8,117     $ 4,745     $ 4,781  
Due from one through five years     25,384       26,620       32,679       34,184  
Due from six through ten years     10,832       11,756       14,160       15,216  
Total   $ 44,220     $ 46,493     $ 51,584     $ 54,181  

 

The unrealized gains and losses on investment securities at December 31, 2012 and 2011 were:

 

    2012     2011  
    Unrealized
Gains		     Unrealized
Losses		     Unrealized
Gains		     Unrealized
Losses		  
    (Dollars in thousands)  
Municipal bonds   $ 2,473     $ 200     $ 2,797     $ 200  

 

At each reporting date, the Company reviews its investments to determine whether a decline in fair value below the amortized cost basis is other than temporary. To determine whether a decline in value is other than temporary, the Company evaluates several factors including the nature of the securities held, credit rating or financial condition of the issuers, the extent and duration of the unrealized losses, prevailing market conditions, and whether the Company will more likely than not be required to sell the impaired securities before the amortized cost basis is fully recovered. The Company determined that no other-than-temporary impairment exists for the years ended December 31, 2012, 2011 and 2010.