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INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2012

INVESTMENT SECURITIES [Abstract]

Schedule of Cost Basis and Fair Values of Investment Securities

Investment securities available for sale:

		AT DECEMBER 31, 2012
		COST BASIS				GROSS UNREALIZED GAINS				GROSS UNREALIZED LOSSES				FAIR VALUE
		(IN THOUSANDS)
U.S. Agency		$	5,848			$	70			$	(7)			$	5,911
Corporate bonds			7,992				3				(103)				7,892
U.S. Agency mortgage-backed securities			131,425				6,320				(10)				137,735
Total		$	145,265			$	6,393			$	(120)			$	151,538

Investment securities held to maturity:

		AT DECEMBER 31, 2012
		COST BASIS				GROSS UNREALIZED GAINS				GROSS UNREALIZED LOSSES				FAIR VALUE
		(IN THOUSANDS)
U.S. Agency mortgage-backed securities		$	9,318			$	578			$	-			$	9,896
Taxable municipal			410				6				-				416
Corporate bonds and other securities			3,995				14				(55)				3,954
Total		$	13,723			$	598			$	(55)			$	14,266

Investment securities available for sale:

		AT DECEMBER 31, 2011
		COST BASIS				GROSS UNREALIZED GAINS				GROSS UNREALIZED LOSSES				FAIR VALUE
		(IN THOUSANDS)
U.S. Agency		$	10,689			$	48			$	(28	)		$	10,709
U.S. Agency mortgage-backed securities			165,484				6,737				(7	)			172,214
Total		$	176,173			$	6,785			$	(35	)		$	182,923

Investment securities held to maturity:

		AT DECEMBER 31, 2011
		COST BASIS				GROSS UNREALIZED GAINS				GROSS UNREALIZED LOSSES				FAIR VALUE
		(IN THOUSANDS)
U.S. Agency mortgage-backed securities		$	9,280			$	643			$	-			$	9,923
Other securities			3,000				-				(9	)			2,991
Total		$	12,280			$	643			$	(9	)		$	12,914

Schedule of Investments Securities, by Contractual Maturity

Investment securities available for sale:

		AT DECEMBER 31, 2012
		U. S. AGENCY								U.S. AGENCY MORTGAGE- BACKED SECURITIES								CORPORATE BONDS								TOTAL INVESTMENT SECURITIES AVAILABLE FOR SALE
		(IN THOUSANDS, EXCEPT YIELDS)
COST BASIS
Within 1 year		$	-				-%			$	-				-%			$	-				-%			$	-				-%
After 1 year but within 5 years			4,848				1.42				-				-				7,992				3.55				12,840				2.73
After 5 years but within 10 years			1,000				1.43				14,347				3.30				-				-				15,347				3.18
After 10 years but within 15 years			-				-				58,603				2.90				-				-				58,603				2.90
Over 15 years			-				-				58,475				2.89				-				-				58,475				2.89
Total		$	5,848				1.42			$	131,425				2.94			$	7,992				3.55			$	145,265				2.91
FAIR VALUE
Within 1 year		$	-							$	-							$	-							$	-
After 1 year but within 5 years			4,918								-								7,892								12,810
After 5 years but within 10 years			993								15,134								-								16,127
After 10 years but within 15 years			-								61,404								-								61,404
Over 15 years			-								61,197								-								61,197
Total		$	5,911							$	137,735							$	7,892							$	151,538

Investment securities held to maturity:

		AT DECEMBER 31, 2012
		U.S. AGENCY MORTGAGE-BACKED SECURITIES								CORPORATE BONDS AND OTHER								TOTAL INVESTMENT SECURITIES HELD TO MATURITY
		(IN THOUSANDS, EXCEPT YIELDS)
COST BASIS
Within 1 year		$	-				-%			$	2,000				1.46%			$	2,000				1.46%
After 1 year but within 5 years			-				-				1,000				1.44				1,000				1.44
After 5 years but within 10 years			-				-				-				-				-				-
After 10 years but within 15 years			-				-				410				2.92				410				2.92
Over 15 years			9,318				3.65				995				4.04				10,313				3.69
Total		$	9,318				3.65			$	4,405				2.17			$	13,723				3.18
FAIR VALUE
Within 1 year		$	-							$	1,981							$	1,981
After 1 year but within 5 years			-								965								965
After 5 years but within 10 years			-								-								-
After 10 years but within 15 years			-								416								416
Over 15 years			9,896								1,008								10,904
Total		$	9,896							$	4,370							$	14,266

Schedule of Investments with Unrealized Losses

The following tables present information concerning investments with unrealized losses as of December 31, 2012 (in thousands):

Investment securities available for sale:

		LESS THAN 12 MONTHS								12 MONTHS OR LONGER								TOTAL
		FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES
U.S. Agency		$	993			$	(7)			$	-			$	-			$	993			$	(7)
U.S. Agency mortgage-backed securities			1,140				(8)				349				(2)				1,489				(10)
Corporate bonds			6,898				(103)				-				-				6,898				(103)
Total		$	9,031			$	(118)			$	349			$	(2)			$	9,380			$	(120)

Investment securities held to maturity:

		LESS THAN 12 MONTHS								12 MONTHS OR LONGER								TOTAL
		FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES
Corporate bonds and other securities		$	965			$	(35)			$	1,981			$	(20)			$	2,946			$	(55)
Total		$	965			$	(35)			$	1,981			$	(20)			$	2,946			$	(55)

The following tables present information concerning investments with unrealized losses as of December 31, 2011 (in thousands):

Investment securities available for sale:

		LESS THAN 12 MONTHS								12 MONTHS OR LONGER								TOTAL
		FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES
U.S. Agency		$	3,161			$	(28	)		$	-			$	-			$	3,161			$	(28	)
U.S. Agency mortgage-backed securities			613				(7	)			-				-				613				(7	)
Total		$	3,774			$	(35	)		$	-			$	-			$	3,774			$	(35	)

Investment securities held to maturity:

		LESS THAN 12 MONTHS								12 MONTHS OR LONGER								TOTAL
		FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES				FAIR VALUE				UNREALIZED LOSSES
Other securities		$	1,991			$	(9	)		$	-			$	-			$	1,991			$	(9	)
Total		$	1,991			$	(9	)		$	-			$	-			$	1,991			$	(9	)

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- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

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- Definition

For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: 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

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Tabular disclosure of unrealized gains and losses on investments.

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