|12 Months Ended|
Dec. 31, 2011
NOTE 2 - SECURITIES
The fair value of available for sale securities and the related gains and losses recognized in accumulated other comprehensive income (loss) was as follows:
All mortgage-backed securities are secured by residential properties.
The amortized cost, unrecognized gains and losses and fair value of securities held to maturity were as follows:
The fair value of debt securities and amortized cost, if different, at year-end 2011 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage backed securities, are shown separately.
At December 31, 2011 and 2010, securities with a carrying value of $342,288 and $244,220 were pledged to secure public deposits and repurchase agreements.
The proceeds from sales and calls of securities and the associated gains are listed below:
The tax provision related to these net realized gains and losses was $81, $0, and $250, respectively.
Securities with unrealized losses at year-end 2011 and 2010, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:
As of December 31, 2011, the Bank’s security portfolio consisted of 223 securities, 22 of which were in an unrealized loss position totaling $101. There was no other-than-temporary-impairment of securities as of or for the year ended December 31, 2011. Unrealized losses have not been recognized into income because the issuers’ bonds are of high credit quality (U.S. government agencies and government sponsored enterprises and “A” rated or better Kentucky municipalities), management does not have the intent to sell these securities and it is not likely that it will be required to sell the securities before their anticipated recovery.
The entire disclosure for investments, including all tables.
Reference 1: http://www.xbrl.org/2003/role/presentationRef