Note 3 - Securities

3 Months Ended

Mar. 31, 2013

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 March 31, 2013 and December 31, 2012 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, 2013
U.S. Government sponsored entity securities	$	9,034	$	8	$	(28	)	$	9,014
Agency mortgage-backed securities, residential		88,172		2,356		(27	)		90,501
Total securities	$	97,206	$	2,364	$	(55	)	$	99,515
December 31, 2012
U.S. Government sponsored entity securities	$	1,009	$	3	$	----		$	1,012
Agency mortgage-backed securities, residential		91,521		2,432		----			93,953
Total securities	$	92,530	$	2,435	$	----		$	94,965

Securities Held to Maturity	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses			Estimated Fair Value
March 31, 2013
Obligations of states and political subdivisions	$	23,481	$	1,098	$	(74	)	$	24,505
Agency mortgage-backed securities, residential		15		----		----			15
Total securities	$	23,496	$	1,098	$	(74	)	$	24,520
December 31, 2012
Obligations of states and political subdivisions	$	23,494	$	1,178	$	(65	)	$	24,607
Agency mortgage-backed securities, residential		17		----		----			17
Total securities	$	23,511	$	1,178	$	(65	)	$	24,624

The amortized cost and estimated fair value of the securities portfolio at March 31, 2013, 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	$	----	$	----	$	----	$	----
Due in over one to five years		5,019		5,011		6,430		6,850
Due in over five to ten years		4,015		4,003		9,172		9,476
Due after ten years		----		----		7,879		8,179
Agency mortgage-backed securities, residential		88,172		90,501		15		15
Total debt securities	$	97,206	$	99,515	$	23,496	$	24,520

The following table summarizes the investment securities with unrealized losses at March 31, 2013 and December 31, 2012 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, 2013	Fair Value		Unrealized Loss			Fair Value		Unrealized  Loss		Fair Value		Unrealized Loss
Securities Available for Sale
U.S. Government sponsored entity securities	$	7,997	$	(28	)	$	----	$	----	$	7,997	$	(28	)
Agency mortgage-backed securities, residential		5,037		(27	)		----		----		5,037		(27	)
Total available for sale	$	13,034	$	(55	)	$	----	$	----	$	13,034	$	(55	)

	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	$	2,319	$	(70	)	$	258	$	(4	)	$	2,577	$	(74	)
Total held to maturity	$	2,319	$	(70	)	$	258	$	(4	)	$	2,577	$	(74	)

	Less Than 12 Months					12 Months or More					Total
December 31, 2012	Fair Value		Unrecognized Loss			Fair Value		Unrecognized Loss			Fair Value		Unrecognized  Loss
Securities Held to Maturity
Obligations of states and political subdivisions	$	2,018	$	(63	)	$	260	$	(2	)	$	2,278	$	(65	)
Total held to maturity	$	2,018	$	(63	)	$	260	$	(2	)	$	2,278	$	(65	)

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, 2013 represents an other-than-temporary impairment.