Annual report pursuant to Section 13 and 15(d)

INVESTMENT SECURITIES

v2.4.0.8
INVESTMENT SECURITIES
 12 Months Ended
Dec. 31, 2013
INVESTMENT SECURITIES  
INVESTMENT SECURITIES

NOTE 5: INVESTMENT SECURITIES

 

The amortized cost and estimated fair values of available-for-sale securities by balance sheet classification are as follows:

 

As of December 31, 2013

 

Amortized
Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair
Value

 

Municipal obligations

 

$

403

 

$

12

 

$

—

 

$

415

 

U.S. government securities funds

 

997

 

—

 

(14

)

983

 

Equity securities

 

227

 

386

 

(5

)

608

 

Total short-term investment securities

 

$

1,627

 

$

398

 

$

(19

)

$

2,006

 

 

As of December 31, 2012

 

Amortized
Cost

 

Gross
Unrealized
Gains

 

Gross
Unrealized
Losses

 

Fair
Value

 

Municipal obligations

 

$

608

 

$

30

 

$

—

 

$

638

 

U.S. government securities funds

 

995

 

—

 

(9

)

986

 

Equity securities

 

227

 

228

 

(8

)

447

 

Total short-term investment securities

 

$

1,830

 

$

258

 

$

(17

)

$

2,071

 

 

The municipal obligations held at fair value of $415 at December 31, 2013, all mature in less than two years.

 

During 2013, 2012 and 2011, the proceeds from the sales of available-for-sale securities were $200, $3,789 and $7,697, respectively. There were no gross realized gains (losses) on sales of available-for-sale securities (net of tax) for the years ended December 31, 2013, 2012 and 2011, respectively.

 

The Company’s trading securities portfolio totaled $971 and $1,276 at December 31, 2013 and 2012, respectively, and generated gains of $122, $116 and $16, for the years ended December 31, 2013, 2012 and 2011, respectively.

 

As of December 31, 2013 and 2012, the Company had unrealized losses of $14 and $9, respectively, in its U.S. government securities funds. These losses are due to the interest rate sensitivity of the municipal obligations and the performance of the overall stock market for the equity securities.