Investment Securities (Tables)

6 Months Ended

Jun. 30, 2013

Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Approximate Fair Values of Available-for-Sale Securities

The amortized cost, gross unrealized gains, gross unrealized losses and approximate fair values of available-for-sale securities at June 30, 2013 and December 31, 2012 are as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 2013:
U. S. Government agency bonds	$	7,500,000	$	—	$	(311,397	)	$	7,188,603
U. S. Government agency mortgage-backed securities		24,235,300		—		(490,921	)		23,744,379
Corporate bonds		9,000,000		—		(389,907	)		8,610,093

	$	40,735,300	$	—	$	(1,192,225	)	$	39,543,075

December 31, 2012:
U. S. Government agency bonds	$	7,500,000	$	26,170	$	—		$	7,526,170
U. S. Government agency mortgage-backed securities		25,837,100		—		(130,209	)		25,706,891
Corporate bonds		9,000,000		—		(513,741	)		8,486,259

	$	42,337,100	$	26,170	$	(643,950	)	$	41,719,320

Gross Unrealized Loss and Fair Value of Available-for-Sale Securities, Aggregated by the Length of Time

The following table presents the gross unrealized loss and fair value of Bancorp’s available-for-sale securities, aggregated by the length of time the individual securities have been in a continuous loss position, at June 30, 2013 and December 31, 2012:


	Less Than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
June 30, 2013:
U. S. Government agency bonds	$	7,188,603	$	(311,397	)	$	—	$	—		$	7,188,603	$	(311,397	)
U. S. Government agency mortgage - backed securities		23,690,508		(490,921	)		—		—			23,690,508		(490,921	)
Corporate bonds		—		—			8,610,093		(389,907	)		8,610,093		(389,907	)

Totals	$	30,879,111	$	(802,318	)	$	8,610,093	$	(389,907	)	$	39,489,204	$	(1,192,225	)

December 31, 2012:
U. S. Government agency mortgage - backed securities	$	25,670,832	$	(130,209	)	$	—	$	—		$	25,670,832	$	(130,209	)
Corporate bonds		2,842,368		(157,632	)		5,643,891		(356,109	)		8,486,259		(513,741	)

Totals	$	28,513,200	$	(287,841	)	$	5,643,891	$	(356,109	)	$	34,157,091	$	(643,950	)

Amortized Cost and Fair Value of Available-for-Sale Debt Securities by Contractual Maturity

Because mortgage-backed securities are not due at a single maturity date, they are not included in the maturity categories in the following summary:


	Amortized Cost		Fair Value
Maturity:
Corporate bonds 5 to 10 years	$	9,000,000	$	8,610,093
U.S. Government agency bonds 5 to 10 years		7,500,000		7,188,603
U.S. Government agency mortgage-backed securities		24,235,300		23,744,379

Total	$	40,735,300	$	39,543,075