Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] |
NOTE 2 Securities
The fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: | | (Dollars in thousands) | | | | | | | Gross | | Gross | | Estimated | | | | Cost | | Unrealized | | Unrealized | | Fair | | | | Basis | | Gains | | Losses | | Value | | December 31, 2013 | | | | | | | | | | | | | | U.S. government sponsored entities | | $ | 18,997 | | $ | - | | $ | (637) | | $ | 18,360 | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 101,056 | | | 1,181 | | | (1,922) | | | 100,315 | | Municipal securities | | | 73,864 | | | 1,499 | | | (1,710) | | | 73,653 | | Collateralized debt obligations | | | 5,208 | | | - | | | (3,240) | | | 1,968 | | Total securities available-for-sale | | $ | 199,125 | | $ | 2,680 | | $ | (7,509) | | $ | 194,296 | | December 31, 2012 | | | | | | | | | | | | | | U.S. government sponsored entities | | $ | 23,009 | | $ | 94 | | $ | (7) | | $ | 23,096 | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 96,782 | | | 3,147 | | | (15) | | | 99,914 | | Municipal securities | | | 58,946 | | | 4,155 | | | (28) | | | 63,073 | | Collateralized debt obligations | | | 5,208 | | | - | | | (3,816) | | | 1,392 | | Total securities available-for-sale | | $ | 183,945 | | $ | 7,396 | | $ | (3,866) | | $ | 187,475 |
| The fair value of available-for-sale debt securities and carrying amount, if different, at year end 2013 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. | | (Dollars in thousands) | | | | Available-for-sale | | | | Estimated | | Tax- | | | | Fair | | Equivalent | | December 31, 2013 | | Value | | Yield (%) | | Due in one year or less | | $ | 1,887 | | | 7.06 | | Due from one to five years | | | 18,343 | | | 3.16 | | Due from five to ten years | | | 26,822 | | | 4.55 | | Due over ten years | | | 46,929 | | | 4.70 | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 100,315 | | | 2.76 | | Total | | $ | 194,296 | | | 3.56 | |
Sales of available-for-sale securities were as follows: | | (Dollars in thousands) | | | | December 31, | | December 31, | | | | 2013 | | 2012 | | | | | | | | | | Proceeds | | $ | 30,144 | | | 25,900 | | Gross gains | | | 733 | | | 1,120 | | Gross losses | | | (103) | | | - |
| The tax provisions related to these net realized gains were approximately $225,000 for 2013 and $440,000 for 2012. Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows: | | (Dollars in thousands) | | | | Unrealized | | | | gain/(loss) | | Ending balance, December 31, 2012 | | $ | 2,284 | | Current period change | | | (5,493) | | Ending balance, December 31, 2013 | | $ | (3,209) | | Securities with carrying values of approximately $31,231,000 and $32,935,000 were pledged as of December 31, 2013 and 2012, respectively, as collateral for repurchase agreements, public funds, and for other purposes as permitted or required by law. The reduction in pledged securities is a result of the lifting of a state requirement to pledge securities for public funds on deposit. Securities with unrealized losses at December 31, 2013 and 2012 not recognized in income are as follows: | | (Dollars in thousands) | | | | Less than 12 months | | 12 months or longer | | Total | | | | Estimated | | | | | Estimated | | | | | Estimated | | | | | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | | Value | | Losses | | Value | | Losses | | Value | | Losses | | December 31, 2013 | | | | | | | | | | | | | | | | | | | | U.S. government sponsored entities | | $ | 18,360 | | $ | (637) | | $ | - | | $ | - | | $ | 18,360 | | $ | (637) | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 62,748 | | | (1,922) | | | - | | | - | | | 62,748 | | | (1,922) | | Municipal securities | | | 27,890 | | | (1,571) | | | 1,478 | | | (139) | | | 29,368 | | | (1,710) | | Collateralized debt obligations | | | - | | | - | | | 1,968 | | | (3,240) | | | 1,968 | | | (3,240) | | Total temporarily impaired | | $ | 108,998 | | $ | (4,130) | | $ | 3,446 | | $ | (3,379) | | $ | 112,444 | | $ | (7,509) | | Number of securities | | | | | | 117 | | | | | | 8 | | | | | | 125 | | | | (Dollars in thousands) | | | | Less than 12 months | | 12 months or longer | | Total | | | | Estimated | | | | | Estimated | | | | | Estimated | | | | | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | | Value | | Losses | | Value | | Losses | | Value | | Losses | | December 31, 2012 | | | | | | | | | | | | | | | | | | | | U.S. government sponsored entities | | $ | 3,492 | | $ | (7) | | $ | - | | $ | - | | $ | 3,492 | | $ | (7) | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 2,294 | | | (15) | | | - | | | - | | | 2,294 | | | (15) | | Municipal securities | | | 3,330 | | | (28) | | | - | | | - | | | 3,330 | | | (28) | | Collateralized debt obligations | | | - | | | - | | | 1,392 | | | (3,816) | | | 1,392 | | | (3,816) | | Total temporarily impaired | | $ | 9,116 | | $ | (50) | | $ | 1,392 | | $ | (3,816) | | $ | 10,508 | | $ | (3,866) | | Number of securities | | | | | | 14 | | | | | | 4 | | | | | | 18 |
| Unrealized losses on securities have not been recognized into income because the securities are of high credit quality or have undisrupted cash flows. Management has the intent and ability to hold the securities for the foreseeable future, and the decline in fair value is largely due to changes in interest rates and volatility in the securities markets. The fair values are expected to recover as the securities approach maturity
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