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SECURITIES (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of securities available-for-sale

The amortized cost, unrealized gains, unrealized losses and estimated fair values of securities available-for-sale at December 31, 2012 and 2011, are summarized as follows:

	December 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(in thousands)
U.S. Treasury notes/bills	$	8,009	$	2	$	—		$	8,011
U.S. government agency notes		32,570		62		(24	)		32,608
U.S. government agency mortgage-backed securities		166,133		740		(124	)		166,749
U.S. government agency collateralized mortgage obligations		162,632		768		(346	)		163,054
Municipal securities		7,887		86		(81	)		7,892
Other domestic debt securities		4,367		—		(1,640	)		2,727
Securities available-for-sale	$	381,598	$	1,658	$	(2,215	)	$	381,041

	December 31, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(in thousands)
U.S. Treasury notes/bills	$	45,151	$	14	$	(4	)	$	45,161
U.S. government agency notes		59,212		257		(23	)		59,446
U.S. government agency mortgage-backed securities		132,141		1,616		(82	)		133,675
U.S. government agency collateralized mortgage obligations		168,158		384		(368	)		168,174
Private label collateralized mortgage obligations		15,853		—		(2,811	)		13,042
Municipal securities		28,572		813		(60	)		29,325
Other domestic debt securities		7,151		—		(2,239	)		4,912
Securities available-for-sale	$	456,238	$	3,084	$	(5,587	)	$	453,735

Schedule of securities with continuous unrealized loss position

	At December 31, 2012
	Less Than 12 Months							Greater Than 12 Months							Total
	Amortized Cost			Unrealized Losses				Amortized Cost			Unrealized Losses				Amortized Cost			Unrealized Losses
	(in thousands)
U.S. government agency notes		$	7,572		$	(24	)		$	—		$	—			$	7,572		$	(24	)
U.S. government agency mortgage-backed securities			25,756			(124	)			—			—				25,756			(124	)
U.S. government agency collateralized mortgage obligations			67,055			(336	)			5,820			(10	)			72,875			(346	)
Municipal securities			4,953			(81	)			—			—				4,953			(81	)
Other domestic debt securities			—			—				4,367			(1,640	)			4,367			(1,640	)
		$	105,336		$	(565	)		$	10,187		$	(1,650	)		$	115,523		$	(2,215	)

	At December 31, 2011
	Less Than 12 Months					Greater Than 12 Months					Total
	Amortized Cost		Unrealized Losses			Amortized Cost		Unrealized Losses			Amortized Cost		Unrealized Losses
	(in thousands)
U.S. Treasury notes/bills	$	10,029	$	(4	)	$	—	$	—		$	10,029	$	(4	)
U.S. government agency notes		10,000		(23	)		—		—			10,000		(23	)
U.S. government agency mortgage-backed securities		40,889		(82	)		—		—			40,889		(82	)
U.S. government agency collateralized mortgage obligations		99,894		(368	)		—		—			99,894		(368	)
Private-label collateralized mortgage obligations		—		—			15,853		(2,811	)		15,853		(2,811	)
Municipal securities		4,039		(60	)		—		—			4,039		(60	)
Other domestic debt securities		—		—			7,151		(2,239	)		7,151		(2,239	)
	$	164,851	$	(537	)	$	23,004	$	(5,050	)	$	187,855	$	(5,587	)

Schedule of other-than-temporary impairment activity related to credit loss, recognized in earnings

The following table presents the other-than-temporary impairment activity related to credit loss, which is recognized in earnings, for the years ended December 31, 2012, 2011 and 2010.

	For the Years Ended December 31,
	2012				2011			2010
	(in thousands)
Beginning balance		$	3,643			$	2,256		$	1,507
Addition of other-than-temporary impairment that was not previously recognized			—				—			120
Additional increases to the amount related to the credit loss for which an other-than-temporary impairment was previously recognized			728				1,387			664
Reduction for securities sold during the period			(2,922	)			—			(35	)
Ending balance		$	1,449			$	3,643		$	2,256

Schedule of amortized cost and estimated fair value of securities by contractual maturities

	At December 31, 2012
	Amortized Cost		Fair Value
	(in thousands)
Due in one year or less	$	8,009	$	8,011
Due after one year through five years		32,570		32,608
Due after five years through ten years		98,694		99,089
Due after ten years		242,325		241,333
	$	381,598	$	381,041

- 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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