Securities (Tables)

12 Months Ended

Dec. 31, 2012

Securities Tables

Book values and approximate fair values of investment securities

	2012									2011
	Amortized		Fair		Unrealized					Amortized		Fair		Unrealized
($ in thousands)	Cost		Value		Gains		(Losses)			Cost		Value		Gains		(Losses)
Securities available for sale:
Government-sponsored enterprise securities	$	11,500		11,596		96		─			34,511		34,665		170		(16	)
Mortgage-backed securities		143,539		146,926		3,717		(330	)		120,032		124,105		4,164		(91	)
Corporate bonds		3,998		3,813		75		(260	)		13,189		12,488		279		(980	)
Equity securities		5,026		5,017		16		(25	)		10,998		11,368		409		(39	)
Total available for sale	$	164,063		167,352		3,904		(615	)		178,730		182,626		5,022		(1,126	)
Securities held to maturity:
State and local governments	$	56,064		61,496		5,432		─			57,988		62,754		4,766		─

Schedule of information regarding securities with unrealized losses

($ in thousands)	Securities in an Unrealized Loss Position for Less than 12 Months				Securities in an Unrealized Loss Position for More than 12 Months				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Government-sponsored enterprise securities	$	—		—		—		—		—		—
Mortgage-backed securities		26,330		330		—		—		26,330		330
Corporate bonds		—		—		740		260		740		260
Equity securities		—		—		30		25		30		25
State and local governments		—		—		—		—		—		—
Total temporarily impaired securities	$	26,330		330		770		285		27,100		615

The following table presents information regarding securities with unrealized losses at December 31, 2011:

($ in thousands)	Securities in an Unrealized Loss Position for Less than 12 Months				Securities in an Unrealized Loss Position for More than 12 Months				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Government-sponsored enterprise securities	$	8,984		16		—		—		8,984		16
Mortgage-backed securities		14,902		61		9,302		30		24,204		91
Corporate bonds		4,588		458		2,773		522		7,361		980
Equity securities		4		2		22		37		26		39
State and local governments		—		—		—		—		—		—
Total temporarily impaired securities	$	28,478		537		12,097		589		40,575		1,126

Investment in corporate bonds

At December 31, 2012, the Company’s $3.8 million investment in corporate bonds was comprised of the following:

($ in thousands)   Issuer	S&P Issuer Ratings (1)		Maturity Date		Amortized Cost		Market Value
First Citizens Bancorp (South Carolina) Bond		Not Rated		4/1/15	$	2,998		3,073
First Citizens Bancorp (South Carolina) Trust Preferred Security		Not Rated		6/15/34		1,000		740
Total investment in corporate bonds					$	3,998		3,813

Schedule of book values and approximate fair values of investment securities by contractual maturity

	Securities Available for Sale				Securities Held to Maturity
	Amortized		Fair		Amortized		Fair
($ in thousands)	Cost		Value		Cost		Value
Debt securities
Due within one year	$	—		—	$	350		352
Due after one year but within five years		14,498		14,669		3,837		4,140
Due after five years but within ten years		—		—		29,005		31,807
Due after ten years		1,000		740		22,872		25,197
Mortgage-backed securities		143,539		146,926		—		—
Total debt securities		159,037		162,335		56,064		61,496
Equity securities		5,026		5,017		—		—
Total securities	$	164,063		167,352	$	56,064		61,496