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Securities | 12 Months Ended
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Dec. 31, 2013
Securities [Abstract] |
SECURITIES | NOTE 3 – SECURITIES T he following table summarizes the amortized cost and fair value of the available-for-sale securities portfolio at December 31, 2013 and December 31, 2012 and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive income (loss):
|  |  |  |  | Gross |  | Gross |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair
|  | Cost |  | Gains |  | Losses |  | Value
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt |  | $ | 4,360 |  | $ | 11 |  | $ | 8 |  | $ | 4,363
State and municipal |  |  | 1,926 |  |  | - |  |  | 7 |  |  | 1,919
Issued by U.S. government-sponsored entities and agencies: |  |  |  |  |  |  |  |  |  |  |  | -
Mortgage-backed securities - residential |  |  | 934 |  |  | 49 |  |  | - |  |  | 983
Collateralized mortgage obligations |  |  | 2,354 |  |  | 53 |  |  | - |  |  | 2,407
Total |  | $ | 9,574 |  | $ | 113 |  | $ | 15 |  | $ | 9,672
|  |  |  |  | Gross |  | Gross |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair
|  | Cost |  | Gains |  | Losses |  | Value
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt |  | $ | 4,429 |  | $ | - |  | $ | 64 |  | $ | 4,365
State and municipal |  |  | 2,006 |  |  | - |  |  | 20 |  |  | 1,986
Issued by U.S. government-sponsored entities and agencies: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  |  | 1,399 |  |  | 87 |  |  | - |  |  | 1,486
Collateralized mortgage obligations |  |  | 9,698 |  |  | 117 |  |  | 13 |  |  | 9,802
Total |  | $ | 17,532 |  | $ | 204 |  | $ | 97 |  | $ | 17,639
There was no other-than-temporary impairment recognized in accumulated other comprehensive income (loss) for securities available for sale at December 31, 2013 or December 31, 2012. The proceeds from the sales of securities and the associated gains in 2013, 2012 and 2011 are listed below.
| 2013 |  | 2012 |  | 2011
Proceeds | $ | - |  | $ | 2,144 |  | $ | 12,219
Gross gains |  | - |  |  | 143 |  |  | 353
Gross losses |  | - |  |  | - |  |  | -
Tax effect-expense | $ | - |  | $ | - |  | $ | -
The amortized cost and fair value of debt securities at December 31, 2013 are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
|  |  | December 31, 2013 |  |  | December 31, 2012
|  |  | Amortized |  |  | Fair |  |  | Amortized |  |  | Fair
|  |  | Cost |  | Value |  |  | Cost |  |  | Value
Due in one year or less |  | $ | 2,386 |  | $ | 2,379 |  | $ | 50 |  | $ | 50
Due from one to five years |  |  | 3,900 |  |  | 3,903 |  |  | 6,385 |  |  | 6,301
Mortgage-backed securities |  |  | 934 |  |  | 983 |  |  | 1,399 |  |  | 1,486
Collateralized mortgage obligations |  |  | 2,354 |  |  | 2,407 |  |  | 9,698 |  |  | 9,802
Total |  | $ | 9,574 |  | $ | 9,672 |  | $ | 17,532 |  | $ | 17,639
Fair value of securities pledged was as follows:
| 2013 |  | 2012 |  |  | 2011
Pledged as collateral for: |  |  |  |  |  |  |  |
FHLB advances | $ | 2,024 |  | $ | 4,707 |  | $ | 9,336
Public deposits |  | 905 |  |  | 2,199 |  |  | 2,820
Customer repurchase agreements |  | - |  |  | - |  |  | 3,557
Interest-rate swaps |  | 443 |  |  | 1,511 |  |  | 1,464
Total | $ | 3,372 |  | $ | 8,417 |  | $ | 17,177
At year-end 2013 and 2012, there were no holdings of securities of any one issuer, other than U.S. government-sponsored entities and agencies, in an amount greater than 10% of stockholders’ equity. The following table summarizes securities with unrealized losses at December 31, 2013 and December 31, 2012 aggregated by major security type and length of time in a continuous unrealized loss position.
December 31, 2013 |  | Less than 12 Months |  | 12 Months or More |  | Total
Description of Securities |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate debt |  | $ | 239 |  | $ | 1 |  | $ | 1,002 |  | $ | 7 |  | $ | 1,241 |  | $ | 8
State and municipal |  |  | 1,015 |  |  | 1 |  |  | 904 |  |  | 6 |  |  | 1,919 |  |  | 7
Total temporarily impaired |  | $ | 1,254 |  | $ | 2 |  | $ | 1,906 |  | $ | 13 |  | $ | 3,160 |  | $ | 15
December 31, 2012 |  | Less than 12 Months |  | 12 Months or More |  | Total
Description of Securities |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate debt |  | $ | 4,365 |  | $ | 64 |  | $ | - |  | $ | - |  | $ | 4,365 |  | $ | 64
State and municipal |  |  | 1,936 |  |  | 20 |  |  | - |  |  | - |  |  | 1,936 |  |  | 20
Issued by U.S. government-sponsored entities and agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized mortgage obligations |  |  | 1,673 |  |  | 13 |  |  | - |  |  | - |  |  | 1,673 |  |  | 13
Total temporarily impaired |  | $ | 7,974 |  | $ | 97 |  | $ | - |  | $ | - |  | $ | 7,974 |  | $ | 97
The unrealized losses in Corporate debt and State and municipal securities December 31, 2013 and December 31, 2012, are related to multiple securities. Because the decline in fair value is attributable to changes in market conditions, and not credit quality, and because the Company does not have the intent to sell these securities and will unlikely be required to sell these securities before their anticipated recovery, the Company did not consider these securities to be other-than-temporarily impaired at December 31, 2013 and December 31, 2012. There was no unrealized loss in C ollateralized mortgage obligations at December 31, 2013. The unrealized loss at December 31, 2012 is related to one Ginnie Mae collateralized mortgage obligation. This security carries the full faith and credit guarantee of the U.S. government. Because the decline in fair value is attributable to changes in market conditions, and not credit quality, and because the Company does not have the intent to sell this security and it is likely that it will not be required to sell this security before their anticipated recovery, the Company did not consider this security to be other-than-temporaril y impaired at December 31, 2012

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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 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 2: 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 3: 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 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 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 Reference 6: 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 7: 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 8: 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 9: 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 10: 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 + Details
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