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Securities | 12 Months Ended
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Dec. 31, 2011
Securities [Abstract] |
Securities | Note 4 - Securities A summary of the amortized cost and fair value of securities, with gross unrealized gains and losses, follows:
|  |  |  | December 31, 2011 |  |  |
|  | Amortized |  | Gross Unrealized |  |  | Fair
|  | Cost |  | Gains | Losses |  |  | Value
Held-to-maturity |  |  |  |  |  |  |  |  |
U.S. agency obligations | $ | 8,133 | $ | 400 | $ | - |  | $ | 8,533
Available-for-sale |  |  |  |  |  |  |  |  |
U.S. agency obligations | $ | 25,416 | $ | 117 | $ | (48 | ) | $ | 25,485
Mortgage-backed securities |  | 3,938 |  | 5 |  | (4 | ) |  | 3,939
Municipals |  | 19,062 |  | 241 |  | (389 | ) |  | 18,914
| $ | 48,416 | $ | 363 | $ | (441 | ) | $ | 48,338
|  |  |  | December 31, 2010 |  |  |
|  | Amortized |  | Gross Unrealized |  |  | Fair
|  | Cost |  | Gains | Losses |  |  | Value
Held-to-maturity |  |  |  |  |  |  |  |  |
U.S. agency obligations | $ | 14,297 | $ | 304 | $ | - |  | $ | 14,601
Available-for-sale |  |  |  |  |  |  |  |  |
U.S. agency obligations | $ | 14,758 | $ | 24 | $ | (441 | ) | $ | 14,341
Mortgage-backed securities |  | 18,057 |  | 1 |  | (296 | ) |  | 17,762
Municipals |  | 5,787 |  | 15 |  | (337 | ) |  | 5,465
Corporates |  | 1,033 |  | - |  | (15 | ) |  | 1,018
| $ | 39,635 | $ | 40 | $ | (1,089 | ) | $ | 38,586
Temporarily Impaired Securities The following tables show the gross unrealized losses and fair value of the Bank's investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2011 and 2010:
December 31, 2011 |  | Less than 12 months |  | More than 12 months |  | Total |
|  | Fair | Unrealized |  | Fair |  | Unrealized |  | Fair | Unrealized
|  | Value | Losses |  | Value |  | Losses |  | Value | Losses
U.S. agency obligations | $ | 13,593 | $ | 48 |  | $ | - | $ | - | $ | 13,593 | $ | 48
Mortgage-backed securities |  | 985 |  | 4 |  |  | - |  | - |  | 985 |  | 4
Municipals |  | 12,852 |  | 389 |  |  | - |  | - |  | 12,852 |  | 389
Total temporarily impaired |  |  |  |  |  |  |  |  |  |  | $ |  |
securities | $ | 27,430 | $ | 441 |  | $ | - | $ | - |  | 27,430 | $ | 441
December 31, 2010 |  | Less than 12 months |  | More than 12 months |  | Total |
|  | Fair | Unrealized |  | Fair |  | Unrealized |  | Fair | Unrealized
|  | Value | Losses |  | Value |  | Losses |  | Value | Losses
U.S. agency obligations | $ | 11,808 | $ | 441 |  | $ | - | $ | - | $ | 11,808 | $ | 441
Mortgage-backed securities |  | 16,740 |  | 296 |  |  | - |  | - |  | 16,740 |  | 296
Corporates |  | - |  | - |  | 1,018 |  | 15 |  | 1,018 |  | 15
Municipals |  | 3,178 |  | 303 |  | 590 |  | 34 |  | 3,768 |  | 337
Total temporarily impaired |  |  |  |  |  |  |  |  |  |  |  |  |
securities | $ | 31,726 | $ | 1,040 | $ | 1,608 | $ | 49 | $ | 33,334 | $ | 1,089
U.S. agency obligations. The unrealized losses on the 6 investments in U.S. agency obligations at December 31, 2011 were caused by interest rate increases. The contractual terms of those investments do no permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Bank does not consider those investments to be other-than-temporarily impaired at December 31, 2011. Each of these 6 investments carries an investment grade rating of AA. Mortgage-backed securities. The unrealized losses on the 1 investment in mortgage-backed securities at December 31, 2011 were caused by interest rate increases. The contractual cash flows of these investments are guaranteed by an agency of the U.S. government. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost bases of the Bank's investment. Because the decline in market value is attributable to changes in interest rates and not credit quality, and the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Bank does not consider those investments to be other-than-temporarily impaired at December 31, 2011. This investment carries an investment grade rating of AA. Municipals. The unrealized losses on the 13 investments in municipal obligations at December 31, 2011 were caused by interest rate increases. The contractual terms of those investments do no permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Bank does not consider those investments to be other-than-temporarily impaired at December 31, 2011. Each of these 13 investments carries an investment grade rating of AA or above. The amortized costs and fair values of securities at December 31, 2011, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | Held-to-Maturity |  |  | Available-for-Sale
|  | Amortized | Fair |  | Amortized |  |  | Fair
|  | Cost | Values |  | Cost | Values
Due in one year or less | $ | - | $ | - | $ | - | $ |  | -
Due after one year through five years |  | - |  | - |  | - |  |  | -
Due after five years through ten years |  | 2,072 |  | 2,362 |  | 7,284 |  |  | 7,361
Due after ten years |  | 6,061 |  | 6,171 |  | 41,132 |  |  | 40,977
| $ | 8,133 | $ | 8,533 | $ | 48,416 |  | $ | 48,338
The Bank sold $44,671 of securities available-for-sale in 2011. Gross realized gains amounted to $1,228 and gross realized losses amounted to $46. The Bank sold $43,657 of securities available-for-sale in 2010. Gross realized gains amounted to $372 and gross realized losses amounted to $14. The amortized costs of securities pledged as collateral for public deposits and other short term borrowings were approximately $19,334 and $18,860 (fair value of $19,806 and $19,105) at December 31, 2011 and 2010, respectively.

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- Definition Tabular disclosure of investments in certain debt and equity securities (and certain other trading assets) which include all debt and equity securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. Other trading assets include assets that are carried on the balance sheet at fair value and held for trading purposes. A debt security represents a creditor relationship with an enterprise that is in the form of a security. 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. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities (and other trading assets). + 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 Accounting Standards Codification -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 -Topic 320 Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 -Topic 320 Reference 6: 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 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 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 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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