Investment Securities (Tables)

3 Months Ended

Mar. 31, 2013

Amortized Cost and Fair Value of Available-for-Sale Investment Securities

The amortized cost and fair value of available-for-sale investment securities at March 31, 2013 and December 31, 2012 are summarized as follows (in thousands):

	March 31, 2013
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Treasury notes	$	19,447		246		-		19,693
U.S. Agency notes		100,668		1,021		190		101,499
U.S. Agency mortgage-backed securities		53,116		1,166		126		54,156
Certificates of deposit with other banks		1,494		15		-		1,509
Municipal securities:
Non-taxable		75,766		3,157		179		78,744
Taxable		16,684		919		11		17,592
Mutual funds		2,201		22		-		2,223
Trust preferred securities		149		3		4		148
Equity securities		1,751		261		17		1,995
	$	271,276		6,810		527		277,559

	December 31, 2012
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

U.S. Treasury notes	$	18,462		224		-		18,686
U.S. Agency notes		89,372		1,364		130		90,606
U.S. Agency mortgage-backed securities		51,121		1,444		24		52,541
Corporate securities		3,032		35		-		3,067
Municipal securities:
Non-taxable		70,504		3,497		119		73,882
Taxable		14,851		993		3		15,841
Mutual fund		2,138		30		-		2,168
Trust preferred securities		250		2		7		245
Equity securities		1,390		106		26		1,470
	$	251,120		7,695		309		258,506

Securities in a Continuous Loss Position

Information concerning securities with gross unrealized losses at March 31, 2013, aggregated by length of time that individual securities have been in a continuous loss position, is as follows (in thousands):

	Less than Twelve Months				Twelve Months or More
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

U.S. Agency notes	$	23,040		190		-		-
U.S. Agency mortgage-backed securities		11,255		126		-		-
Municipal securities:
Non-taxable		13,130		178		453		1
Taxable		1,922		11		-		-
Mutual funds		57		-		-		-
Trust preferred securities		47		3		49		1
Equity securities		111		3		101		14
	$	49,562		511		603		16

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

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+ Details