Investment Securities (Tables)

9 Months Ended

Sep. 30, 2012

Investment Securities [Abstract]

Amortized cost, fair values, and unrealized gains and losses of the securities available-for-sale

The amortized cost, fair values, and unrealized gains and losses of the securities available-for-sale are as follows

(in thousands):

	Amortized		Gross Unrealized				Fair/Book
September 30, 2012	Cost		Gains		Losses		Value
Government Agency & Government-Sponsored Entities	$	46,655	$	316	$	-	$	46,971
Obligations of States and Political Subdivisions		5,704		-		-		5,704
Mortgage Backed Securities (1)		374,582		15,230		-		389,812
Corporate Bonds		14,641		223		-		14,864
Other		5,826		-		-		5,826
Total	$	447,408	$	15,769	$	-	$	463,177
	Amortized		Gross Unrealized				Fair/Book
December 31, 2011	Cost		Gains		Losses		Value
Government Agency & Government-Sponsored Entities	$	82,195	$	413	$	13	$	82,595
Obligations of States and Political Subdivisions		5,782		-		-		5,782
Mortgage Backed Securities (1)		383,380		7,792		139		391,033
Other		410		-		-		410
Total	$	471,767	$	8,205	$	152	$	479,820
	Amortized		Gross Unrealized				Fair/Book
September 30, 2011	Cost		Gains		Losses		Value
Government Agency & Government-Sponsored Entities	$	162,115	$	635	$	-	$	162,750
Obligations of States and Political Subdivisions		5,813		-		-		5,813
Mortgage Backed Securities (1)		243,121		8,787		22		251,886
Other		360		-		-		360
Total	$	411,409	$	9,422	$	22	$	420,809

Book values, estimated fair values and unrealized gains and losses of investments classified as held-to-maturity

The book values, estimated fair values and unrealized gains and losses of investments classified as held-to-maturity are as follows (in thousands):

	Book		Gross Unrealized				Fair
September 30, 2012	Value		Gains		Losses		Value
Obligations of States and Political Subdivisions	$	66,098	$	2,623	$	-	$	68,721
Mortgage Backed Securities (1)		640		20		-		660
Other		2,222		-		-		2,222
Total	$	68,960	$	2,643	$	-	$	71,603
	Book		Gross Unrealized				Fair
December 31, 2011	Value		Gains		Losses		Value
Obligations of States and Political Subdivisions	$	59,640	$	2,736	$	-	$	62,376
Mortgage Backed Securities (1)		1,205		46		-		1,251
Other		2,247		-		-		2,247
Total	$	63,092	$	2,782	$	-	$	65,874
	Book		Gross Unrealized				Fair
September 30, 2011	Value		Gains		Losses		Value
Obligations of States and Political Subdivisions	$	60,130	$	2,437	$	-	$	62,567
Mortgage Backed Securities (1)		1,418		62		-		1,480
Other		2,255		-		-		2,255
Total	$	63,803	$	2,499	$	-	$	66,302

(1) All Mortgage Backed Securities consist of securities collateralized by residential real estate and were issued by an agency or government sponsored entity of the U.S. government.

Amortized cost and estimated fair values of investment securities by contractual maturity

The amortized carrying amount of investment securities at September 30, 2012 by contractual maturity are shown in the following tables (in thousands):

			After 1		After 5				Total
Securities Available-for-Sale	Within		but		but		Over		Fair
September 30, 2012	1 Year		Within 5		Within 10		10 years		Value
Government Agency & Government-Sponsored Entities	$	10,006	$	35,751	$	1,214	$	-	$	46,971
Obligations of States and Political Subdivisions		-		-		219		5,485		5,704
Mortgage Backed Securities		-		-		119,019		270,793		389,812
Corporate Bonds		608		13,411		845		-		14,864
Other		5,826		-		-		-		5,826
Total	$	16,440	$	49,162	$	121,297	$	276,278	$	463,177
			After 1		After 5				Total
Securities Held-to-Maturity	Within		but		but		Over		Book
September 30, 2012	1 Year		Within 5		Within 10		10 years		Value
Obligations of States and Political Subdivisions	$	1,540	$	9,842	$	39,352	$	15,364	$	66,098
Mortgage Backed Securities		-		640		-		-		640
Other		-		5		2,217		-		2,222
Total	$	1,540	$	10,487	$	41,569	$	15,364	$	68,960

Investments with gross unrealized losses and their market value aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

The following tables show those investments with gross unrealized losses and their fair value aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at the dates indicated (in thousands):

	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2011	Value		Loss		Value		Loss		Value		Loss
Government Agency & Government-Sponsored Entities	$	4,987	$	13	$	-	$	-	$	4,987	$	13
Mortgage Backed Securities		85,090		139		-		-		85,090		139
Total	$	90,077	$	152	$	-	$	-	$	90,077	$	152
	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
September 30, 2011	Value		Loss		Value		Loss		Value		Loss
Mortgage Backed Securities	$	10,130	$	22	$	-	$	-	$	10,130	$	22
Total	$	10,130	$	22	$	-	$	-	$	10,130	$	22

Proceeds from calls of securities

Proceeds from sales /calls of securities for the periods shown were as follows:

(in thousands)	Proceeds		Gains		Losses
Nine Months Ended September 30, 2012	$	44,296	$	149	$	-
Nine Months Ended September 30, 2011		55,000		-		-