Investment Securities (Tables)

12 Months Ended

Dec. 31, 2012

Amortized Cost and Fair Values of Securities

The amortized costs and approximate fair values, together with gross unrealized gains and losses on securities, are as follows:

	2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for Sale Securities
Mortgage-backed securities
Government-sponsored agencies	$	121,260	$	5,115	$	—		$	126,375
Collateralized mortgage obligations
Government-sponsored agencies		114,782		3,463		(10	)		118,235
Federal agencies		13,000		8		(2	)		13,006
Municipals		3,129		151		(16	)		3,264
Small Business Administration		8		—		—			8
Corporate obligations		24,147		431		(4,269	)		20,309

Total investment securities	$	276,326	$	9,168	$	(4,297	)	$	281,197

	2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for Sale Securities
Mortgage-backed securities
Government-sponsored agencies	$	198,039	$	4,813	$	(6	)	$	202,846
Collateralized mortgage obligations
Government-sponsored agencies		97,098		2,963		—			100,061
Federal agencies		2,000		2		—			2,002
Municipals		3,364		208		(14	)		3,558
Small Business Administration		12		—		—			12
Corporate obligations		27,488		—		(5,089	)		22,399

Total investment securities	$	328,001	$	7,986	$	(5,109	)	$	330,878

Investments Gross Unrealized Losses and Fair Value in Continuous Unrealized Loss Position

The following tables show the gross unrealized losses and fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2012 and 2011:

	2012
	Less than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Available for Sale
Collateralized mortgage obligations
Government-sponsored agencies	$	4,962	$	(10	)	$	—	$	—		$	4,962	$	(10	)
Federal agencies		4,998		(2	)							4,998		(2	)
Municipals		874		(16	)		—		—			874		(16	)
Corporate obligations		—		—			2,475		(4,269	)		2,475		(4,269	)

Total temporarily impaired securities	$	10,834	$	(28	)	$	2,475	$	(4,269	)	$	13,309	$	(4,297	)

	2011
	Less than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Available for Sale
Mortgage-backed securities
Government-sponsored agencies	$	5,076	$	(6	)	$	—	$	—		$	5,076	$	(6	)
Municipals		971		(14	)		—		—			971		(14	)
Corporate obligations		19,957		(790	)		2,454		(4,299	)		22,411		(5,089	)

Total temporarily impaired securities	$	26,004	$	(810	)	$	2,454	$	(4,299	)	$	28,458	$	(5,109	)

Debt Securities for which Credit Loss was Recognized in Income and Other Losses Recorded in Other Comprehensive Income

The following table provides information about debt securities for which only a credit loss was recognized in income and other losses are recorded in other comprehensive income.

	Accumulated Credit Losses
	2012			2011		2010

Credit losses on debt securities held
Beginning of year	$	3,567		$	3,374	$	2,957
Reductions related to actual losses incurred		(2,362	)		—		—
Additions related to increases in previously recognized other-than-temporary losses		—			193		417

As of December 31,	$	1,205		$	3,567	$	3,374

Amortized Cost and Fair Value of Available for Sale Securities by Contractual Maturity

The amortized cost and fair value of securities available for sale at December 31, 2012, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Available for Sale
	Amortized Cost		Fair Value

One to five years	$	22,404	$	22,837
Five to ten years		9,946		9,958
After ten years		7,926		3,784
		40,726		36,579
Mortgage-backed securities
Government-sponsored agencies		121,260		126,375
Collateralized mortgage obligations
Government-sponsored agencies		114,782		118,235
Small Business Administration		8		8

Totals	$	276,326	$	281,197

- 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.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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