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Securities | 12 Months Ended
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Dec. 31, 2011
Securities [Abstract] |
Securities | Note 2. Securities The Company invests in U.S. agency and mortgage-backed securities, obligations of states and political subdivisions, corporate equity securities and restricted securities. Restricted securities include required equity investments in certain correspondent banks which have no readily determinable market value. Amortized costs and fair values of securities available for sale at December 31, 2011 and 2010, were as follows:
|  | 2011 |
|  | (in thousands) |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized (Losses) |  |  | Fair Value |
U.S. agency and mortgage-backed securities |  | $ | 76,549 |  |  | $ | 2,343 |  |  | $ | (16 | ) |  | $ | 78,876 |
Obligations of states and political subdivisions |  |  | 11,895 |  |  |  | 781 |  |  |  | — |  |  |  | 12,676 |
Corporate equity securities |  |  | 26 |  |  |  | 87 |  |  |  | — |  |  |  | 113 |
|  | $ | 88,470 |  |  | $ | 3,211 |  |  | $ | (16 | ) |  | $ | 91,665 |
|  | 2010 |
|  | (in thousands) |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized (Losses) |  |  | Fair Value |
U.S. agency and mortgage-backed securities |  | $ | 45,627 |  |  | $ | 1,508 |  |  | $ | (211 | ) |  | $ | 46,924 |
Obligations of states and political subdivisions |  |  | 13,290 |  |  |  | 225 |  |  |  | (214 | ) |  |  | 13,301 |
Corporate equity securities |  |  | 23 |  |  |  | 172 |  |  |  | — |  |  |  | 195 |
|  | $ | 58,940 |  |  | $ | 1,905 |  |  | $ | (425 | ) |  | $ | 60,420 |
At December 31, 2011 and 2010, investments in an unrealized loss position that are temporarily impaired were as follows:
|  |  | $0,000,000 |  |  |  | $0,000,000 |  |  |  | $0,000,000 |  |  |  | $0,000,000 |  |  |  | $0,000,000 |  |  |  | $0,000,000 |
|  | 2011 |
|  | (in thousands) |
|  | Less than 12 months |  |  | 12 months or more |  |  | Total |
|  | Fair Value |  |  | Unrealized (Loss) |  |  | Fair Value |  |  | Unrealized (Loss) |  |  | Fair Value |  |  | Unrealized (Loss) |
U.S. agency and mortgage-backed securities |  | $ | 3,955 |  |  | $ | (16 | ) |  | $ | — |  |  | $ | — |  |  | $ | 3,955 |  |  | $ | (16 | )
Obligations of states and political subdivisions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 3,955 |  |  | $ | (16 | ) |  | $ | — |  |  | $ | — |  |  | $ | 3,955 |  |  | $ | (16 | )
|  |  | $0,000,000 |  |  |  | $0,000,000 |  |  |  | $0,000,000 |  |  |  | $0,000,000 |  |  |  | $0,000,000 |  |  |  | $0,000,000 |
|  | 2010 |
|  | (in thousands) |
|  | Less than 12 months |  |  | 12 months or more |  |  | Total |
|  | Fair Value |  |  | Unrealized (Loss) |  |  | Fair Value |  |  | Unrealized (Loss) |  |  | Fair Value |  |  | Unrealized (Loss) |
U.S. agency and mortgage-backed securities |  | $ | 11,286 |  |  | $ | (211 | ) |  | $ | — |  |  | $ | — |  |  | $ | 11,286 |  |  | $ | (211 | )
Obligations of states and political subdivisions |  |  | 2,923 |  |  |  | (128 | ) |  |  | 893 |  |  |  | (86 | ) |  |  | 3,816 |  |  |  | (214 | )
|  | $ | 14,209 |  |  | $ | (339 | ) |  | $ | 893 |  |  | $ | (86 | ) |  | $ | 15,102 |  |  | $ | (425 | )
The tables above provide information about securities that have been in an unrealized loss position for less than twelve consecutive months and securities that have been in an unrealized loss position for twelve consecutive months or more. Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Impairment is considered to be other-than temporary if the Company (1) intends to sell the security, (2) more likely than not will be required to sell the security before recovering its cost, or (3) does not expect to recover the security's entire amortized cost basis. Presently, the Company does not intend to sell any of these securities, will not be required to sell these securities, and expects to recover the entire amortized cost of all the securities. At December 31, 2011, there were three U.S. agency and mortgage-backed securities in an unrealized loss position. One hundred percent of the Company's investment portfolio is considered investment grade. The weighted-average re-pricing term of the portfolio was 3.3 years at December 31, 2011. The amortized cost and fair value of securities available for sale at December 31, 2011 by contractual maturity are shown below. Expected maturities of mortgage-backed securities will differ from contractual maturities because borrowers may have the right to prepay obligations with or without call or prepayment penalties. Corporate equity securities are not included in the maturity categories in the following maturity summary because they do not have a stated maturity date.
|  | (in thousands) |
|  | Amortized Cost |  |  | Fair Value |
Due within one year |  | $ | 300 |  |  | $ | 300 |
Due after one year through five years |  |  | 3,619 |  |  |  | 3,789 |
Due after five years through ten years |  |  | 10,790 |  |  |  | 11,418 |
Due after ten years |  |  | 73,735 |  |  |  | 76,045 |
Corporate equity securities |  |  | 26 |  |  |  | 113 |
|  | $ | 88,470 |  |  | $ | 91,665 |
Proceeds from sales, calls and maturities of securities available for sale during 2011, 2010 and 2009 were $14.9 million, $4.4 million and $6.0 million, respectively. Gross gains of $65 thousand, $13 thousand and $10 thousand were realized on those sales during 2011, 2010 and 2009, respectively. Gross losses of $6 thousand and $20 thousand were realized on those sales during 2011 and 2010, respectively. Securities having a book value of $25.3 million and $26.5 million at December 31, 2011 and 2010 were pledged to secure other borrowings, public deposits and for other purposes required by law. The Company's investment in FHLB stock totaled $1.9 million at December 31, 2011. FHLB stock is generally viewed as a long-term investment and as a restricted security, which is carried at cost, because there is a minimal market for the stock. Therefore, when evaluating FHLB stock for impairment, its value is based on the ultimate recoverability of the par value rather than by recognizing temporary declines in value. The Company does not consider this investment to be other-than-temporarily impaired at December 31, 2011, and no impairment has been recognized. FHLB stock is shown in restricted securities on the balance sheet and is not part of the available for sale securities portfolio.

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- Definition Tabular disclosure of available-for-sale securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. + References Reference 1: 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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS115-1/124-1 -Paragraph 17 -Subparagraph a, b -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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 19, 20, 21 -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 5: 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 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 03-1 -Paragraph 21 -Subparagraph a, b -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 7: 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 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27198-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27337-111563 Reference 10: 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 + Details
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