INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2012

INVESTMENT SECURITIES

Schedule of carrying value and estimated fair value of securities available for sale

The carrying value and estimated fair value of securities available for sale are as follows (dollars in thousands):

	Amortized		Unrealized		Unrealized			Estimated
	Cost		Gains		Losses			Fair Value
December 31, 2012
Corporate	$	18,763	$	237	$	(23	)	$	18,977
US Agencies	10,267		137		—			10,404
US Agencies - MBS	7,962		412		—			8,374
Obligations of states and political subdivisions	5,407		637		—			6,044
Total securities available for sale	$	42,399	$	1,423	$	(23	)	$	43,799
December 31, 2011
US Agencies - MBS	$	11,111	$	387	$	—		$	11,498
US Agencies	10,407		168		—			10,575
Corporate	8,314		—		(136		)	8,178
Obligations of states and political subdivisions	5,448		110		(2		)	5,556
Other asset backed	2,954		—		(34		)	2,920
Total securities available for sale	$	38,234	$	665	$	(172	)	$	38,727

Schedule of securities with gross unrealized losses aggregated by investment category and length of time these individual securities have been in a loss position

Following is information pertaining to securities with gross unrealized losses at December 31, 2012 and 2011 aggregated by investment category and length of time these individual securities have been in a loss position (dollars in thousands):

	Less Than Twelve Months					Over Twelve Months
	Gross					Gross
	Unrealized			Fair		Unrealized			Fair
	Losses			Value		Losses			Value
December 31, 2012
Corporate	$	(23	)	$	5,566	$	—		$	—
US Agencies - MBS	—			—		—			—
Obligations of states and political subdivisions	—			—		—			—
Total securities available for sale	$	(23	)	$	5,566	$	—		$	—
December 31, 2011
US Agencies - MBS	$	—		$	2,920	—			—
Corporate	(136		)	8,178		—			—
Obligations of states and political subdivisions	—			—		(2		)	250
Total securities available for sale	$	(136	)	$	11,098	$	(2	)	$	250

Summary of the proceeds from sales and calls of securities available for sale, as well as gross gains and losses

Following is a summary of the proceeds from sales and calls of securities available for sale, as well as gross gains and losses for the years ended December 31 (dollars in thousands):

	2012		2011			2010
Proceeds from sales and calls	$	2,601	$	76		$	8,302
Gross gains on sales	—		—			216
Gross (losses) on sales and calls	—		(1		)	(1		)

Schedule of carrying value and estimated fair value of securities available for sale by contractual maturity

The carrying value and estimated fair value of securities available for sale at December 31, 2012, by contractual maturity, are shown below (dollars in thousands):

	Amortized		Estimated
	Cost		Fair Value
Due in one year or less	$	7,569	$	7,629
Due after one year through five years	22,411		22,745
Due after five years through ten years	—		—
Due after ten years	4,457		5,051
Subtotal	34,437		35,425
US Agencies - MBS	7,962		8,374
Total	$	42,399	$	43,799