(5)

Securities

A summary of securities is as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(In thousands)

At June 30, 2011

Securities available for sale

Government-sponsored
enterprise obligations	$	2,004	$	1	$	(25	)	$	1,980
Residential mortgage-backed
securities		4,259		202		(21	)		4,440

Total securities
available for sale	$	6,263	$	203	$	(46	)	$	6,420

Securities held to maturity

Residential mortgage-backed
securities	$	2,730	$	180	$	-		$	2,910

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(In thousands)

At December 31, 2010

Securities available for sale

Government-sponsored
enterprise obligations	$	3,006	$	4	$	(36	)	$	2,974
Residential mortgage-backed
securities		4,028		217		-			4,245

Total securities
available for sale	$	7,034	$	221	$	(36	)	$	7,219

Securities held to maturity

Residential mortgage-backed
securities	$	3,202	$	196	$	-		$	3,398

All residential mortgage-backed securities have been issued by government-sponsored enterprises.

The amortized cost and estimated fair value of debt securities by contractual maturity at June 30, 2011 are as follows. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Available for Sale				Held to Maturity
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
	(In thousands)
After 1 year through
5 years	$	504	$	505	$	-	$	-
Over 10 years		1,500		1,475		-		-
		2,004		1,980		-		-
Residential mortgage-backed
securities		4,259		4,440		2,730		2,910

	$	6,263	$	6,420	$	2,730	$	2,910

There were no sales of securities for the six months ended June 30, 2011 and 2010.

Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows:

	Less Than Twelve Months				Greater Than Twelve Months
	Gross				Gross
	Unrealized		Fair		Unrealized		Fair
	Losses		Value		Losses		Value
	(In thousands)
At June 30, 2011:

Securities available for sale

Government-sponsored
enterprise obligations	$	25	$	1,475	$	-	$	-
Residential mortgage-backed
securities		21		963		-		-

Total securities
available for sale	$	46	$	2,438	$	-	$	-

At December 31, 2010:

Securities available for sale

Government-sponsored
enterprise obligations	$	36	$	1,464	$	-	$	-

At June, 2011, two securities classified as available-for-sale had an unrealized loss with aggregate depreciation of 1.85% from the securities' amortized cost basis, which management believes to be temporary.