Note 3 - Securities

3 Months Ended

Mar. 31, 2015

Investments, Debt and Equity Securities [Abstract]

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 portfolios at March 31, 2015 and December 31, 2014 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
March 31, 2015
U.S. Government sponsored entity securities	$	9,017	$	34	$	(23	)	$	8,998
Agency mortgage-backed securities, residential		79,047		1,975		(45	)		80,976
Total securities	$	88,064	$	1,978	$	(68	)	$	89,974
December 31, 2014
U.S. Government sponsored entity securities	$	9,019	$	2	$	(104	)	$	8,917
Agency mortgage-backed securities, residential		74,761		1,693		(136	)		76,319
Total securities	$	83,781	$	1,695	$	(240	)	$	85,236

Securities Held to Maturity	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses			Estimated Fair Value
March 31, 2015
Obligations of states and political subdivisions	$	22,721	$	1,008	$	(147	)	$	23,582
Agency mortgage-backed securities, residential		8		----		----			8
Total securities	$	22,729	$	1,008	$	(147	)	$	23,590
December 31, 2014
Obligations of states and political subdivisions	$	22,811	$	939	$	(189	)	$	23,561
Agency mortgage-backed securities, residential		9		----		----			9
Total securities	$	22,820	$	939	$	(189	)	$	23,570

The amortized cost and estimated fair value of the securities portfolio at March 31, 2015, 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	$	1,003	$	1,006	$	1,220	$	1,223
Due in over one to five years		8,014		7,992		6,730		7,116
Due in over five to ten years		----		----		11,569		12,122
Due after ten years		----		----		3,202		3,121
Agency mortgage-backed securities, residential		79,047		80,976		8		8
Total debt securities	$	88,064	$	89,974	$	22,729	$	23,590

The following table summarizes the investment securities with unrealized losses at March 31, 2015 and December 31, 2014 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, 2015	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Securities Available for Sale
U.S. Government sponsored entity securities	$	----	$	----	$	7,991	$	(23	)	$	7,991	$	(23	)
Agency mortgage-backed securities, residential		----		----		4,062		(45	)		4,062		(45	)
Total available for sale	$	----	$	----	$	12,053	$	(68	)	$	12,053	$	(68	)

	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	$	----	$	----	$	1,509	$	(147	)	$	1,509	$	(147	)
Total held to maturity	$	----	$	----	$	1,509	$	(147	)	$	1,509	$	(147	)

	Less Than 12 Months					12 Months or More					Total
December 31, 2014	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Securities Available for Sale
U.S. Government sponsored entity securities	$	----	$	----		$	7,911	$	(104	)	$	7,911	$	(104	)
Agency mortgage-backed securities, residential		11,232		(20	)		8,397		(116	)		19,629		(136	)
Total available for sale	$	11,232	$	(20	)	$	16,308	$	(220	)	$	27,540	$	(240	)

	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	$	1,171	$	(9	)	$	2,916	$	(180	)	$	4,087	$	(189	)
Total held to maturity	$	1,171	$	(9	)	$	2,919	$	(180	)	$	4,087	$	(189	)

Unrealized losses on the Company's debt securities have not been recognized into income because the issuers' securities are of high credit quality at March 31, 2015, 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, 2015 and December 31, 2014 represents an other-than-temporary impairment.