Investment Securities (Tables)

3 Months Ended

Mar. 31, 2013

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
March 31, 2013	Cost		Gains		Losses		Value
Government Agency & Government-Sponsored Entities	$	26,436	$	256	$	-	$	26,692
Obligations of States and Political Subdivisions		5,643		-		-		5,643
Mortgage Backed Securities (1)		423,298		10,273		1,286		432,285
Corporate Securities		49,846		321		39		50,128
Other		825		-		-		825
Total	$	506,048	$	10,850	$	1,325	$	515,573

	Amortized		Gross Unrealized				Fair/Book
December 31, 2012	Cost		Gains		Losses		Value
Government Agency & Government-Sponsored Entities	$	26,546	$	277	$	-	$	26,823
Obligations of States and Political Subdivisions		5,665		-		-		5,665
Mortgage Backed Securities (1)		341,212		11,570		10		352,772
Corporate Securities		22,318		252		12		22,558
Other		10,173		-		-		10,173
Total	$	405,914	$	12,099	$	22	$	417,991

	Amortized		Gross Unrealized				Fair/Book
March 31, 2012	Cost		Gains		Losses		Value
Government Agency & Government-Sponsored Entities	$	66,995	$	347	$	-	$	67,342
Obligations of States and Political Subdivisions		5,753		-		-		5,753
Mortgage Backed Securities (1)		439,222		9,347		258		448,311
Corporate Securities		344		-		-		344
Other		10,067		-		-		10,067
Total	$	522,381	$	9,694	$	258	$	531,817

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
March 31, 2013	Value		Gains		Losses		Value
Obligations of States and Political Subdivisions	$	65,165	$	1,896	$	22	$	67,039
Mortgage Backed Securities (1)		341		8		-		349
Other		2,202		-		-		2,202
Total	$	67,708	$	1,904	$	22	$	69,590

	Book		Gross Unrealized				Fair
December 31, 2012	Value		Gains		Losses		Value
Obligations of States and Political Subdivisions	$	65,694	$	2,296	$	3	$	67,987
Mortgage Backed Securities (1)		484		12		-		496
Other		2,214		-		-		2,214
Total	$	68,392	$	2,308	$	3	$	70,697

	Book		Gross Unrealized				Fair
March 31, 2012	Value		Gains		Losses		Value
Obligations of States and Political Subdivisions	$	63,174	$	2,565	$	-	$	65,739
Mortgage Backed Securities (1)		1,003		37		-		1,040
Other		2,239		-		-		2,239
Total	$	66,416	$	2,602	$	-	$	69,018

(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 cost and estimated fair values of investment securities at March 31, 2013 by contractual maturity are shown in the following table (in thousands):

	Available-for-Sale				Held-to-Maturity
	Amortized		Fair/Book		Book		Fair
March 31, 2013	Cost		Value		Value		Value
Within one year	$	11,424	$	11,475	$	1,775	$	1,788
After one year through five years		64,583		64,968		12,144		12,527
After five years through ten years		1,315		1,417		38,182		39,602
After ten years		5,428		5,428		15,266		15,324
		82,750		83,288		67,367		69,241
Investment securities not due at a single maturity date:
Mortgage-backed securities		423,298		432,285		341		349
Total	$	506,048	$	515,573	$	67,708	$	69,590

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 market 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
March 31, 2013	Value		Loss		Value		Loss		Value		Loss
Securities Available-for-Sale
Mortgage Backed Securities	$	115,238	$	1,286	$	-	$	-	$	115,238	$	1,286
Corporate Securities		18,691		39		-		-		18,691		39
Total	$	133,929	$	1,325	$	-	$	-	$	133,929	$	1,325
Securities Held-to-Maturity
Obligations of States and Political Subdivisions	$	2,841	$	22	$	-	$	-	$	2,841	$	22
Total	$	2,841	$	22	$	-	$	-	$	2,841	$	22

	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2012	Value		Loss		Value		Loss		Value		Loss
Securities Available-for-Sale
Mortgage Backed Securities	$	4,542	$	10	$	-	$	-	$	4,542	$	10
Corporate Securities		3,442		12		-		-		3,442		12
Total	$	7,984	$	22	$	-	$	-	$	7,984	$	22
Securities Held-to-Maturity
Obligations of States and Political Subdivisions	$	528	$	3	$	-	$	-	$	528	$	3
Total	$	528	$	3	$	-	$	-	$	528	$	3

	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
March 31, 2012	Value		Loss		Value		Loss		Value		Loss
Securities Available-for-Sale
Mortgage Backed Securities	$	56,721	$	258	$	-	$	-	$	56,721	$	258
Total	$	56,721	$	258	$	-	$	-	$	56,721	$	258

Proceeds from sales of securities available-for-sale

Proceeds from sales and calls of securities available-for-sale were as follows:

(in thousands)	Proceeds		Gains		Losses
Three Months Ended March 31, 2013	$	45,259	$	749	$	14
Three Months Ended March 31, 2012		25,000		-		-