The amortized cost and estimated fair value by maturity of investment securities at December 31, 2002 are shown in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities. Securities Securities Available for Sale Held to Maturity Weighted Average Amortized Fair Amortized Fair (dollars in thousands) Yield Cost Value Cost Value Within one year or less 5.40% $ 4,821 $ 4,852 $ – $ – One through five years 5.31 22,231 22,801 10,000 10,344 After five through ten years 4.32 64,933 65,650 1,100 1,135 Over ten years 4.12 207,429 209,033 47,386 49,121 Marketable equity securities 2.52 7,305 7,300 – – Totals 4.25% $306,719 $309,636 $58,486 $60,600 The following is a summary of realized gains and losses from the sale of securities available for sale: Years Ended December 31, (dollars in thousands) 2002 2001 2000 Realized gains $ 257 $184 $ – Realized losses (299) (65)(1,759) Net realized gains (losses) $ (42) $119 $(1,759) The tax benefit (provision) applicable to these realized gains and losses is calculated at the federal income tax rate of 35%. Loans receivable at December 31, 2002 and 2001 consists of the following: (dollars in thousands) 2002 2001 Residential mortgage loans: Residential 1-4 family $ 207,130 $198,403 Construction 16,470 5,915 Total residential mortgage loans 223,600 204,318 Commercial loans: Real estate 254,688 228,284 Business 159,339 117,530 Total commercial loans 414,027 345,814 Consumer loans: Indirect automobile 219,280 220,698 Home equity 122,799 114,056 Other 64,786 71,129 Total consumer loans 406,865 405,883 Total loans receivable $1,044,492 $956,015 NOTE 4 – LOANS RECEIVABLE: 45