content_image/273703.jpg content_image/273704.jpg content_image/273706.jpg content_image/273707.jpg content_image/273705.jpg
The fair value of debt securities and carrying amount, if different, at year end 2010 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. 

<img src='content_image/273703.jpg'>

Sales of available-for-sale securities were as follows: 

<img src='content_image/273704.jpg'>

The tax benefits related to these net realized gains and losses were $359,000 for 2010 and $289,000 for 2009. 

Securities with carrying values of $24,484,000 and $27,394,000 were pledged as of December 31, 2010 and 2009, respectively, as collateral for repurchase agreements, public funds, and for other purposes as permitted or required by law. 

Securities with unrealized losses December 31, 2010 and 2009 not recognized in income are as follows: 

<img src='content_image/273706.jpg'>

<img src='content_image/273707.jpg'>

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 market volatility. The fair values are expected to recover as the securities approach maturity. 

## NOTE 3 - Loans Receivable 

Year end loans are summarized below: 

<img src='content_image/273705.jpg'>

