Securities (Tables)

9 Months Ended

Sep. 30, 2013

Investments Debt And Equity Securities [Abstract]

Amortized Cost and Fair Value of Available for Sale Securities

Debt and equity securities have been classified in the balance sheets according to management’s intent. The amortized costs of securities available for sale and their approximate fair values at September 30, 2013 and December 31, 2012 follow:

	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
September 30, 2013
Government-sponsored enterprises	$	3,500,000	$	2,900	$	3,895	$	3,499,005
Mortgage-backed securities		34,067		1,077		—		35,144
Corporate bonds		550,000		—		99,000		451,000
Equities and mutual funds		520,180		28,869		5,542		543,507
	$	4,604,247	$	32,846	$	108,437	$	4,528,656
December 31, 2012
Government-sponsored enterprises	$	2,500,000	$	4,875	$	—	$	2,504,875
Mortgage-backed securities		41,659		1,316		—		42,975
Corporate bonds		550,000		—		107,250		442,750
Equities and mutual funds		508,836		3,416		—		512,252
	$	3,600,495	$	9,607	$	107,250	$	3,502,852

Scheduled Maturities of Available for Sale Securities

The scheduled maturities of securities (all available for sale) at September 30, 2013, were as follows:

	Amortized		Fair
	Cost		Value
Due in one year or less	$	520,180	$	543,507
Due after one year through five years		4,057,373		3,957,431
Due after five years through ten years		15,739		16,354
Due after ten years		10,955		11,364
	$	4,604,247	$	4,528,656

Unrealized Losses on Investment Securities

The following table shows investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at September 30, 2013 and December 31,2012. 

	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
September 30, 2013
Government-sponsored enterprises	$	1,496,105	$	3,895	$	—	$	—	$	1,496,105	$	3,895
Corporate bonds		—		—		451,000		99,000		451,000		99,000
Equities and mutual funds		256,350		5,542		—		—		256,350		5,542
	$	1,752,455	$	9,437	$	451,000	$	99,000	$	2,203,455	$	108,437
December 31, 2012
Corporate bonds	$	—	$	—	$	442,750	$	107,250	$	442,750	$	107,250
	$	—	$	—	$	442,750	$	107,250	$	442,750	$	107,250