SECURITIES

3 Months Ended

Mar. 31, 2012

SECURITIES [Abstract]

SECURITIES

NOTE C - SECURITIES

  A summary of amortized cost and estimated fair value of securities available-for-sale and securities held-to-maturity at March 31, 2012 and December 31, 2011, follows:

Securities
Amortized Cost and Fair Values
			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value
	(In thousands)
March 31, 2012
Securities available-for-sale:
U. S. Government agencies	$	12,590	$	33	$	24	$	12,599
Mortgage-backed securities		51,215		1,880		144		52,951
State and local political subdivisions		75,140		2,035		209		76,966
	$	138,945	$	3,948	$	377	$	142,516
Securities held-to-maturity:
U. S. Government agencies	$	29,351	$	9	$	94	$	29,266
State and local political subdivisions		13,478		112		3		13,587
	$	42,829	$	121	$	97	$	42,853
December 31, 2011
Securities available-for-sale:
U. S. Government agencies	$	9,539	$	43	$	4	$	9,578
Mortgage-backed securities		36,045		1,864		13		37,896
State and local political subdivisions		74,546		2,035		83		76,498
	$	120,130	$	3,942	$	100	$	123,972
Securities held-to-maturity:
U. S. Government agencies	$	33,905	$	70	$	11	$	33,964
State and local political subdivisions		13,314		67		8		13,373
	$	47,219	$	137	$	19	$	47,337

The details concerning securities classified as available-for-sale and held-to-maturity with unrealized losses as of March 31, 2012 and December 31, 2011, were as follows:

Securities
Unrealized Losses < and > 12 Months
Available-for-Sale
	Losses < 12 Months				Losses 12 Months or >				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
March 31, 2012
U. S. Government
agencies	$	3,976	$	24	$	-	$	-	$	3,976	$	24
Mortgage-backed
securities		19,249		130		1,597		14		20,846		144
State and local political
subdivisions		8,128		205		303		4		8,431		209
	$	31,353	$	359	$	1,900	$	18	$	33,253	$	377
December 31, 2011
U. S. Government
agencies	$	3,996	$	4	$	-	$	-	$	3,996	$	4
Mortgage-backed
securities		1,003		3		1,620		10		2,623		13
State and local political
subdivisions		9,935		78		304		5		10,239		83
	$	14,934	$	85	$	1,924	$	15	$	16,858	$	100
Held-to-Maturity
	Losses < 12 Months				Losses 12 Months or >				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
March 31, 2012
U. S. Government
agencies	$	19,973	$	94	$	-	$	-	$	19,973	$	94
State and local political
subdivisions		224		3		-		-		224		3
	$	20,197	$	97	$	-	$	-	$	20,197	$	97
December 31, 2011
U. S. Government
agencies	$	10,008	$	11	$	-	$	-	$	10,008	$	11
State and local political
subdivisions		1,033		8		-		-		1,033		8
	$	11,041	$	19	$	-	$	-	$	11,041	$	19