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Securities | 12 Months Ended
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Dec. 31, 2012
Securities [Abstract] |
Securities | ## NOTE 3 - SECURITIES The amortized cost and fair value of securities were as follows:
|  | December 31, 2012 |
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |
|  | (In Thousands) |
AVAILABLE FOR SALE: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 13,076 |  | $ | 36 |  | $ | (20 | ) | $ | 13,092 |
States and political subdivisions |  |  | 55,864 |  |  | 2,995 |  |  | (73 | ) |  | 58,786 |
Corporate obligations |  |  | 8,521 |  |  | 347 |  |  | -- |  |  | 8,868 |
Mortgage-backed securities – government sponsored entities |  |  | 63,397 |  |  | 1,041 |  |  | (113 | ) |  | 64,325 |
Equity securities – financial services |  |  | 292 |  |  | 27 |  |  | -- |  |  | 319 |
|  | $ | 141,150 |  | $ | 4,446 |  | $ | (206 | ) | $ | 145,390 |
HELD TO MATURITY: |  |  |  |  |  |  |  |  |  |  |  |  |
States and political subdivisions |  | $ | 173 |  | $ | 4 |  | $ | -- |  | $ | 177 |
|  | December 31, 2011 |
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |
|  | (In Thousands) |
AVAILABLE FOR SALE: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 13,268 |  | $ | 130 |  | $ | -- |  | $ | 13,398 |
States and political subdivisions |  |  | 54,106 |  |  | 2,640 |  |  | -- |  |  | 56,746 |
Corporate obligations |  |  | 8,733 |  |  | 130 |  |  | (54 | ) |  | 8,809 |
Mortgage-backed securities – government sponsored entities |  |  | 68,886 |  |  | 2,081 |  |  | (2 | ) |  | 70,965 |
Equity securities – financial services |  |  | 157 |  |  | 109 |  |  | (3 | ) |  | 263 |
|  | $ | 145,150 |  | $ | 5,090 |  | $ | (59 | ) | $ | 150,181 |
HELD TO MATURITY: |  |  |  |  |  |  |  |  |  |  |  |  |
States and political subdivisions |  | $ | 171 |  | $ | 6 |  | $ | -- |  | $ | 177 |
The following tables show the Company's investments' gross unrealized losses and fair value aggregated by length of time that individual securities have been in a continuous unrealized loss position:
|  | December 31, 2012 |
|  | Less than 12 Months |  | 12 Months or More |  | Total |
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |
|  | (In Thousands) |
U.S. Government agencies |  | $ | 7,056 |  | $ | (20 | ) | $ | -- |  | $ | -- |  | $ | 7,056 |  | $ | (20 | )
States and political subdivisions |  |  | 5,821 |  |  | (73 | ) |  | -- |  |  | -- |  |  | 5,821 |  |  | (73 | )
Mortgage-backed securities – government sponsored entities |  |  | 17,199 |  |  | (113 | ) |  | -- |  |  | -- |  |  | 17,199 |  |  | (113 | )
|  | $ | 30,076 |  | $ | (206 | ) | $ | -- |  | $ | -- |  | $ | 30,076 |  | $ | (206 | )
|  | December 31, 2011 |
|  | Less than 12 Months |  | 12 Months or More |  | Total |
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |
|  | (In Thousands) |
Corporate obligations |  | $ | 4,152 |  | $ | (54 | ) | $ | -- |  | $ | -- |  | $ | 4,152 |  | $ | (54 | )
Mortgage-backed securities – government sponsored entities |  |  | 2,495 |  |  | (2 | ) |  | -- |  |  | -- |  |  | 2,495 |  |  | (2 | )
Equity securities – financial services |  |  | 34 |  |  | (2 | ) |  | 15 |  |  | (1 | ) |  | 49 |  |  | (3 | )
|  | $ | 6,681 |  | $ | (58 | ) | $ | 15 |  | $ | (1 | ) | $ | 6,696 |  | $ | (59 | )
The Company has 32 securities in the less than twelve month category and no securities in the twelve months or more category as of December 31, 2012. In management's opinion, the unrealized losses on debt securities reflect changes in interest rates subsequent to the acquisition of specific securities. No other-than-temporary-impairment charges were recorded in 2012. Management believes that all other unrealized losses represent temporary impairment of the securities, and it is more likely than not that it will not have to sell the securities before recovery of their cost basis. The amortized cost and fair value of securities as of December 31, 2012 by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without call or prepayment penalties.
|  | Available for Sale |  | Held to Maturity |
|  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value |
|  | (In Thousands) |
Due in one year or less |  | $ | 5,661 |  | $ | 5,764 |  | $ | — |  | $ | — |
Due after one year through five years |  |  | 13,012 |  |  | 13,308 |  |  | 173 |  |  | 177 |
Due after five years through ten years |  |  | 26,289 |  |  | 27,238 |  |  | — |  |  | — |
Due after ten years |  |  | 32,499 |  |  | 34,436 |  |  | — |  |  | — |
|  |  | 77,461 |  |  | 80,746 |  |  | 173 |  |  | 177 |
Mortgage-backed securities – government sponsored entities |  |  | 63,397 |  |  | 64,325 |  |  | — |  |  | — |
|  | $ | 140,858 |  | $ | 145,071 |  | $ | 173 |  | $ | 177 |
Gross realized gains and gross realized losses on sales of securities available for sale were $1,419,000 and $0, respectively, in 2012, compared to $983,000 and $10,000, respectively, in 2011, and $450,000 and $2,000, respectively, in 2010. The proceeds from the sales of securities totaled $40,914,000, $32,146,000 and $23,944,000 for the years ended December 31, 2012, 2011 and 2010, respectively. Securities with a carrying value of $71,497,000 and $71,245,000 at December 31, 2012 and 2011, respectively, were pledged to secure public deposits, U.S. Treasury demand notes, securities sold under agreements to repurchase and for other purposes as required or permitted by law.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 3, 19, 20, 21, 22, 137 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. 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 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563 Reference 8: 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=6872113&loc=d3e27357-111563 Reference 9: 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=6872113&loc=d3e27161-111563 Reference 10: 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=6872113&loc=d3e27290-111563 + Details
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