Securities

12 Months Ended

Dec. 31, 2011

Securities [Abstract]

Securities

Note 3:  Securities

The amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Approximate Fair Value
Available-for-sale Securities:
December 31, 2011
U.S. Government sponsored agencies	$	3,172	$	7	$	(2	)	$	3,177
Mortgage-backed securities-Government sponsored entities		3,570		149		---			3,719
State and political subdivisions		6,710		242		(3	)		6,949
	$	13,452	$	398	$	(5	)	$	13,845
December 31, 2010
U.S. Government sponsored agencies	$	2,081	$	19	$	(4	)	$	2,096
Mortgage-backed securities-Government sponsored entities		2,529		145		---			2,674
State and political subdivisions		6,860		181		(6	)		7,035
	$	11,470	$	345	$	(10	)	$	11,805

The amortized cost and fair value of available-for-sale securities at December 31, 2011, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Fair Value
Within one year	$	2,025	$	2,031
One to five years		2,850		2,918
Five to ten years		5,007		5,177
After ten years		---		---
		9,882		10,126
Mortgage-backed securities		3,570		3,719
Totals	$	13,452	$	13,845

Certain investments in debt securities are reported in the financial statements at an amount less than their historical cost. Total fair value of these investments at December 31, 2011 and 2010 was $938,000 and $1,916,000, which is approximately 7% and 16%, respectively, of the Company’s available-for-sale investment portfolio.

Based on evaluation of available evidence, including recent changes in market interest rates, credit rating information and information obtained from regulatory filings, management believes the declines in fair value for these securities are temporary.

Should the impairment of any of these securities become other than temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period the other-than-temporary impairment is identified.

The following table shows our investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position at December 31, 2011 and 2010.

	2011
	Less Than 12 Months				12 Months or More				Total
Description of Securities	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Government sponsored agencies	$	368	$	2	$	---	$	---	$	368	$	2
State and political subdivisions		570		3		---		---		570		3
Total temporarily impaired securities	$	938	$	5	$	---	$	---	$	938	$	5

	2010
	Less Than 12 Months				12 Months or More				Total
Description of Securities	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Government sponsored agencies	$	1,042	$	4	$	---	$	---	$	1,042	$	4
State and political subdivisions		874		6		---		---		874		6
Total temporarily impaired securities	$	1,916	$	10	$	---	$	---	$	1,916	$	10