Note 3 - Securities

9 Months Ended

Sep. 30, 2012

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

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 September 30, 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 securities and gross unrecognized gains and losses for held to maturity securities:

Securities Available for Sale	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
September 30, 2012
U.S. Treasury securities		----		----		----			----
U.S. Government sponsored entity securities	$	1,010	$	6	$	----		$	1,016
Agency mortgage-backed securities, residential		99,519		2,954		----			102,473
Total securities	$	100,529	$	2,960	$	----		$	103,489
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

Securities Held to Maturity	Amortized Cost		Gross  Unrecognized  Gains		Gross Unrecognized  Losses			Estimated Fair Value
September 30, 2012
Obligations of states and political subdivisions	$	23,660	$	664	$	(31	)	$	24,293
Agency mortgage-backed securities, residential		18		----		----			18
Total securities	$	23,678	$	664	$	(31	)	$	24,311
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 September 30, 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	$	----	$	----	$	420	$	423
Due in over one to five years		1,010		1,016		4,220		4,288
Due in over five to ten years		----		----		9,648		9,889
Due after ten years		----		----		9,372		9,693
Agency mortgage-backed securities, residential		99,519		102,473		18		18
Total debt securities	$	100,529	$	103,489	$	23,678	$	24,311

The following table summarizes the investment securities with unrealized losses at September 30, 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
September 30, 2012	Fair Value		Unrecognized Loss			Fair Value		Unrecognized Loss			Fair Value		Unrecognized Loss
Securities Held to Maturity
Obligations of states and political subdivisions	$	1,491	$	(10	)	$	1,607	$	(21	)	$	3,098	$	(31	)
Total held to maturity	$	1,491	$	(10	)	$	1,607	$	(21	)	$	3,098	$	(31	)

	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 L oss
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	)

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 September 30, 2012 represents an other-than-temporary impairment.