SECURITIES

3 Months Ended

Mar. 31, 2012

Investments, Debt and Equity Securities [Abstract]

SECURITIES

NOTE 3 – SECURITIES

The following table summarizes the amortized cost and estimated fair value of the available for sale and held to maturity securities portfolio at March 31, 2012 and December 31, 2011 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income for available for sale and gross unrecognized gains and losses for held to maturity:

Securities Available for Sale	Amortized  Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
March 31, 2012
U.S. Treasury securities	$	4,503	$	1	$	----		$	4,504
U.S. Government sponsored entity securities		2,500		25		----			2,525
Agency mortgage-backed securities, residential		82,512		1,712		(123	)		84,101
Total securities	$	89,515	$	1,738	$	(123	)	$	91,130
December 31, 2011
U.S. Treasury securities	$	5,510	$	3	$	----		$	5,513
U.S. Government sponsored entity securities		2,501		58		----			2,559
Agency mortgage-backed securities, residential		76,203		1,407		(12	)		77,598
Total securities	$	84,214	$	1,468	$	(12	)	$	85,670

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Securities Held to Maturity	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses			Estimated Fair Value
March 31, 2012
Obligations of states and political subdivisions	$	22,764	$	536	$	(81	)	$	23,219
Agency mortgage-backed securities, residential		21		----		----			21
Total securities	$	22,785	$	536	$	(81	)	$	23,240
December 31, 2011
Obligations of states and political subdivisions	$	22,825	$	558	$	(559	)	$	22,824
Agency mortgage-backed securities, residential		23		----		----			23
Total securities	$	22,848	$	558	$	(559	)	$	22,847

The amortized cost and estimated fair value of the securities portfolio at March 31, 2012, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers may have the right to call or prepay the debt obligations prior to their contractual maturities.  Securities not due at a single maturity are shown separately.

	Available for Sale				Held to Maturity
Debt Securities:	Amortized  Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	7,003	$	7,029	$	422	$	431
Due in over one to five years		----		----		6,010		6,048
Due in over five to ten years		----		----		7,836		8,011
Due after ten years		----		----		8,496		8,729
Agency mortgage-backed securities, residential		82,512		84,101		21		21
Total debt securities	$	89,515	$	91,130	$	22,785	$	23,240

The following table summarizes the investment securities with unrealized losses at March 31, 2012 and December 31, 2011 by aggregated major security type and length of time in a continuous unrealized loss position:

 Less Than 12 Months 12 Months or More Total

March 31, 2012	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss		Fair Value		Unrealized  Loss
Securities Available for Sale
Agency mortgage-backed
securities, residential	$	16,067	$	(123	)	$	----	$	----	$	16,067	$	(123	)
Total available for sale	$	16,067	$	(123	)	$	----	$	----	$	16,067	$	(123	)

 Less Than 12 Months 12 Months or More Total

	Fair Value		Unrecognized Loss			Fair Value		Unrecognized Loss			Fair Value		Unrecognized Loss
Securities Held to Maturity
Obligations of states and
political subdivisions	$	1,342	$	(23	)	$	3,917	$	(58	)	$	5,259	$	(81	)
Total held to maturity	$	1,342	$	(23	)	$	3,917	$	(58	)	$	5,259	$	(81	)

 Less Than 12 Months 12 Months or More Total

December 31, 2011	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss		Fair Value		Unrealized  Loss
Securities Available for Sale
Agency mortgage-backed
securities, residential	$	7,621	$	(12	)	$	----	$	----	$	7,621	$	(12	)
Total available for sale	$	7,621	$	(12	)	$	----	$	----	$	7,621	$	(12	)

 Less Than 12 Months 12 Months or More Total

	Fair Value		Unrecognized Loss			Fair Value		Unrecognized Loss			Fair Value		Unrecognized Loss
Securities Held to Maturity
Obligations of states and
political subdivisions	$	664	$	(21	)	$	3,557	$	(538	)	$	4,221	$	(559	)
Total held to maturity	$	664	$	(21	)	$	3,557	$	(538	)	$	4,221	$	(559	)

13

Unrealized losses on the Company's debt securities have not been recognized into income because the issuers' securities are of high credit quality and management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery.  Management does not believe any individual unrealized loss at March 31, 2012 represents an other-than-temporary impairment.