Investment Securities (Tables)

9 Months Ended

Sep. 30, 2014

Investment Securities [Abstract]

Amortized cost and fair value of investment securities held to maturity

The amortized cost and fair value of investment securities held to maturity are as follows (dollars in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
September 30, 2014:
US Treasury securities	$	29,162	$	539	$	30	$	29,671
US Agency securities		17,060		100		69		17,091
US Government sponsored mortgage-backed securities		16,075		44		135		15,984
Total	$	62,297	$	683	$	234	$	62,746
December 31, 2013:
US Treasury securities	$	31,235	$	665	$	69	$	31,831
US Agency securities		11,123		44		101		11,066
US Government sponsored mortgage-backed securities		2,303		27		14		2,316
Total	$	44,661	$	736	$	184	$	45,213

Schedule of temporary impairment losses

In addition, the Bank does not intend to sell, nor does it believe it will be more likely than not that it will be required to sell, any impaired securities prior to a recovery of amortized cost.

			Less than 12 months				12 Months or More						Total
		Fair Value		Unrealized Losses			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses
September 30, 2014:	(dollars in thousands)
US Treasury securities		$	6,950		$	30		$	-		$	-		$	6,950		$	30
US Agency securities			8,970			69			-			-			8,970			69
US Government sponsored mortgage-backed securities			13,886			135			-			-			13,886			135
Total		$	29,806		$	234		$	-		$	-		$	29,806		$	234

			Less than 12 months				12 Months or More						Total
			Fair Value	Unrealized Losses			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses
December 31, 2013:	(dollars in thousands)
US Treasury securities		$	6,907		$	69		$	-		$	-		$	6,907		$	69
US Agency securities			7,934			101			-			-			7,934			101
US Government sponsored mortgage-backed securities			1,931			14			-			-			1,931			14
Total		$	16,772		$	184		$	-		$	-		$	16,772		$	184

Amortized cost and estimated fair value of debt securities

The amortized cost and estimated fair value of debt securities at September 30, 2014, by contractual maturity are shown in the following table.  Actual maturities may differ from contractual maturities, because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Held to Maturity (dollars in thousands)
	Amortized Cost		Estimated Fair Value
Due in one year or less	$	6,002	$	6,054
Due from one year to five years		35,334		35,618
Due from five years to ten years		4,886		5,090
US Government sponsored mortgage-backed securities		16,075		15,984
	$	62,297	$	62,746