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Investments (Tables)
12 Months Ended
Dec. 31, 2013
Investments [Abstract]  
Schedule of Available-for-sale Securities Reconciliation
The following table presents the amortized cost, gross unrealized gains and losses and fair value of securities available for sale:
 
 
December 31, 2013
(in thousands)
Amortized Cost
 
Gross
Unrealized Gains
 
Gross
Unrealized Losses
 
Fair Value
Available for sale securities:
 
 
 
 
 
 
 
    Obligations of U.S. Government-sponsored enterprises
$
93,218

 
$
700

 
$
(388
)
 
$
93,530

    Obligations of states and political subdivisions
49,721

 
983

 
(1,761
)
 
48,943

    Agency mortgage-backed securities
298,623

 
2,675

 
(9,184
)
 
292,114

 
$
441,562

 
$
4,358

 
$
(11,333
)
 
$
434,587

 
 
 
 
 
 
 
 
 
December 31, 2012
(in thousands)
Amortized Cost
 
Gross
Unrealized Gains
 
Gross
Unrealized Losses
 
Fair Value
Available for sale securities:
 
 
 
 
 
 
 
    Obligations of U.S. Government-sponsored enterprises
$
149,039

 
$
3,329

 
$

 
$
152,368

    Obligations of states and political subdivisions
51,202

 
2,279

 
(478
)
 
53,003

    Agency mortgage-backed securities
427,221

 
7,884

 
(264
)
 
434,841

 
$
627,462

 
$
13,492

 
$
(742
)
 
$
640,212

Investments Classified by Contractual Maturity Date
(in thousands)
Amortized Cost
 
Estimated Fair Value
Due in one year or less
$
887

 
$
893

Due after one year through five years
107,842

 
108,582

Due after five years through ten years
20,512

 
20,387

Due after ten years
13,698

 
12,611

Mortgage-backed securities
298,623

 
292,114

 
$
441,562

 
$
434,587

Schedule of Unrealized Loss on Investments
The following table represents a summary of available for sale investment securities that had an unrealized loss:
 
 
December 31, 2013
Less than 12 months
 
12 months or more
 
Total
(in thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
Obligations of U.S. Government-sponsored enterprises
$
30,221

 
$
388

 
$

 
$

 
$
30,221

 
$
388

Obligations of states and political subdivisions
17,141

 
952

 
7,168

 
809

 
24,309

 
1,761

Agency mortgage-backed securities
159,999

 
7,338

 
21,437

 
1,846

 
181,436

 
9,184

 
$
207,361

 
$
8,678

 
$
28,605

 
$
2,655

 
$
235,966

 
$
11,333

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
Less than 12 months
 
12 months or more
 
Total
(in thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
Obligations of states and political subdivisions
$
6,434

 
$
122

 
$
3,389

 
$
356

 
$
9,823

 
$
478

Agency mortgage-backed securities
40,471

 
143

 
11,266

 
121

 
51,737

 
264

 
$
46,905

 
$
265

 
$
14,655

 
$
477

 
$
61,560

 
$
742

Schedule of Realized Gain (Loss)
The gross gains and gross losses realized from sales of available for sale investment securities were as follows:
 
 
December 31,
(in thousands)
2013
 
2012
 
2011
Gross gains realized
$
1,477

 
$
1,399

 
$
1,450

Gross losses realized
(182
)
 
(243
)
 

Proceeds from sales
159,604

 
110,876

 
84,456