Note 3 - Trading Account Assets

12 Months Ended

Dec. 31, 2013

Trading Securities [Member]

Note 3 - Trading Account Assets [Line Items]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

3.     Trading Account Assets

The following table summarizes the components of trading account assets at December 31, 2013 (in thousands). There were no trading account assets at December 31, 2012.

Municipal bonds	$	3,771
Insured bank deposits		1,347
Total trading account assets	$	5,118

The following table summarizes net realized gains and the change in net unrealized gains on trading account assets included in trading account asset noninterest income on the Consolidated Statement of Income (Loss) for the year ended December 31, 2013 (in thousands).

	Municipal bonds
Realized gains, net	$	139
Unrealized gains, net due to changes in fair value relative to assets held at end of period		31
Total trading account gains, net	$	170

Funds invested in the trading account may not be withdrawn for one year from the date of initial investment and, therefore, are restricted though September 2014.

Ratings

The following table summarizes Moody’s ratings of municipal bond trading account assets, based on fair value, at December 31, 2013.

	Municipal
	bonds
Aaa		13	%
Aa1 - A3		67
Baa1		2
Not rated		18
Total		100	%

The following table summarizes Standard and Poor’s ratings of municipal bond trading account assets, based on fair value, at December 31, 2013.

	Municipal
	bonds
Aaa		18	%
Aa+		13
Aa - A-		57
Not rated		12
Total		100	%

All municipal bond trading account assets were rated by either Moody’s or Standard and Poor’s at December 31, 2013.

Available-for-sale Securities [Member]

Note 3 - Trading Account Assets [Line Items]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

4.     Investment Securities Available for Sale

The following tables summarize the amortized cost, gross unrealized gains and losses included in accumulated other comprehensive income (loss) and fair values of investment securities available for sale at the dates indicated (in thousands). At December 31, 2013 and 2012, the Company did not have any investment securities classified as held-to-maturity.

	December 31, 2013
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
State and municipal	$	7,393	$	138	$	(71	)	$	7,460
Collateralized mortgage obligations (federal agencies)		97,303		30		(4,201	)		93,132
Other mortgage-backed (federal agencies)		76,852		95		(927	)		76,020
SBA loan-backed (federal agency)		37,655		258		(142	)		37,771
Total investment securities available for sale	$	219,203	$	521	$	(5,341	)	$	214,383

	December 31, 2012
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
State and municipal	$	11,247	$	283	$	-		$	11,530
Collateralized mortgage obligations (federal agencies)		122,444		1,219		(155	)		123,508
Other mortgage-backed (federal agencies)		62,581		1,328		(92	)		63,817
SBA loan-backed (federal agency)		65,828		182		(363	)		65,647
Total investment securities available for sale	$	262,100	$	3,012	$	(610	)	$	264,502

The following tables summarize securities in each category of investment securities available for sale that were in an unrealized loss position at the dates indicated (dollars in thousands).

	December 31, 2013
	Less than 12 months						12 months or longer						Total
	#		Fair value		Gross unrealized losses		#		Fair value		Gross unrealized losses		#		Fair value		Gross unrealized losses
State and municipal		1	$	1,010	$	71		-	$	-	$	-		1	$	1,010	$	71
Collateralized mortgage obligations (federal agencies)		14		62,251		2,863		9		29,123		1,338		23		91,374		4,201
Other mortgage-backed (federal agencies)		20		64,428		774		1		1,517		153		21		65,945		927
SBA loan-backed (federal agency)		4		14,468		73		3		5,306		69		7		19,774		142
Total		39	$	142,157	$	3,781		13	$	35,946	$	1,560		52	$	178,103	$	5,341

	December 31, 2012
	Less than 12 months						12 months or longer						Total
	#		Fair value		Gross unrealized losses		#		Fair value		Gross unrealized losses		#		Fair value		Gross unrealized losses
Collateralized mortgage obligations (federal agencies)		7	$	23,301	$	109		9	$	9,547	$	46		16	$	32,848	$	155
Other mortgage-backed (federal agencies)		3		14,586		92		-		-		-		3		14,586		92
SBA loan-backed (federal agency)		6		25,115		363		-		-		-		6		25,115		363
Total		16	$	63,002	$	564		9	$	9,547	$	46		25	$	72,549	$	610

Other-Than-Temporary Impairment

Based on the Company’s other-than-temporary impairment analysis at December 31, 2013, the Company concluded that gross unrealized losses detailed in the preceding table were due to changes in market interest rates and were not other-than-temporarily impaired as of that date.

Ratings

The following table summarizes Moody’s ratings of investment securities available for sale, based on fair value, at December 31, 2013.  

	State and municipal			Collateralized mortgage obligations (federal agencies)			Other mortgage-backed (federal agencies)			SBA loan-backed (federal agency)
Aaa		-	%		100	%		100	%		100	%
Aa1 - A1		77			-			-			-
Baa1		6			-			-			-
Not rated		17			-			-			-
Total		100	%		100	%		100	%		100	%

The following table summarizes Standard and Poor’s ratings of investment securities available for sale, based on fair value, at December 31, 2013.

	State and municipal			Collateralized mortgage obligations (federal agencies)			Other mortgage-backed (federal agencies)			SBA loan-backed (federal agency)
Aaa		-	%		-	%		2	%		-	%
Aa+		-			100			98			100
Aa - Aa-		33			-			-			-
Not rated		67			-			-			-
Total		100	%		100	%		100	%		100	%

All state and municipal securities were rated by either Moody’s or Standard and Poor’s at December 31, 2013.

Maturities

The following table summarizes the amortized cost and fair value of investment securities available for sale at December 31, 2013 by contractual maturity and estimated principal repayment distribution (in thousands). State and municipal securities are organized based on contractual maturity. Principal amounts on collateralized mortgage obligations, other mortgage-backed securities and SBA loan-backed securities are not due at a single maturity date and are subject to early repayment based on prepayment activity of underlying loans. Therefore, collateralized mortgage obligations, other mortgage-backed securities and SBA loan-backed securities are organized based on estimated cash flows using current prepayment assumptions.

	Amortized cost		Fair value
Due in one year or less	$	3,978	$	4,018
Due after one year through five years		2,334		2,432
Due after five years through ten years		1,081		1,010
Due after ten years		-		-
State and municipal		7,393		7,460
Due in one year or less		3,570		3,592
Due after one year through five years		13,833		13,421
Due after five years through ten years		79,900		76,119
Due after ten years		-		-
Collateralized mortgage obligations (federal agencies)		97,303		93,132
Due in one year or less		-		-
Due after one year through five years		40,158		40,076
Due after five years through ten years		17,209		16,800
Due after ten years		19,485		19,144
Other mortgage-backed (federal agencies)		76,852		76,020
Due in one year or less		-		-
Due after one year through five years		25,978		25,966
Due after five years through ten years		2,851		2,836
Due after ten years		8,826		8,969
SBA loan-backed (federal agency)		37,655		37,771
Total investment securities available for sale	$	219,203	$	214,383

The weighted-average duration of the investment securities available for sale portfolio was 5.1 years, based on expected prepayment activity, at December 31, 2013.

Pledged

Investment securities were pledged as collateral for the following purposes at the dates indicated (in thousands).

	December 31,
	2013		2012
Public funds deposits	$	119,591	$	106,642
Federal Reserve line of credit		1,411		1,583
Total investment securities available for sale pledged	$	121,002	$	108,225

Realized Gains and Losses

The following table summarizes the gross realized gains and losses from sales of investment securities available for sale for the periods indicated (in thousands).

	For the years ended December 31,
	2013			2012			2011
Realized gains	$	471		$	10,499		$	157
Realized losses		(161	)		(5	)		-
Net realized gains	$	310		$	10,494		$	157