Investment Securities (Tables)

6 Months Ended

Jun. 30, 2013

Investments, Debt and Equity Securities [Abstract]

Available-for-sale Securities

The following is a summary of the amortized cost and fair value of investment securities available-for-sale and investment securities held-to-maturity at June 30, 2013, December 31, 2012 and June 30, 2012:

	Investment Securities Available-for-Sale
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
	(In thousands)
June 30, 2013
Government sponsored agencies	$	92,239	$	249	$	400	$	92,088
State and political subdivisions	44,288		1,500		8		45,780
Residential mortgage-backed securities	311,425		1,166		4,219		308,372
Collateralized mortgage obligations	221,025		463		973		220,515
Corporate bonds	65,077		692		254		65,515
Preferred stock	1,389		393		—		1,782
Total	$	735,443	$	4,463	$	5,854	$	734,052
December 31, 2012
Government sponsored agencies	$	97,529	$	241	$	213	$	97,557
State and political subdivisions	47,663		2,302		—		49,965
Residential mortgage-backed securities	96,320		3,100		9		99,411
Collateralized mortgage obligations	262,790		984		182		263,592
Corporate bonds	69,788		546		539		69,795
Preferred stock	6,144		345		—		6,489
Total	$	580,234	$	7,518	$	943	$	586,809
June 30, 2012
Government sponsored agencies	$	95,021	$	205	$	81	$	95,145
State and political subdivisions	49,799		2,397		65		52,131
Residential mortgage-backed securities	109,730		3,561		200		113,091
Collateralized mortgage obligations	321,178		1,321		602		321,897
Corporate bonds	92,498		162		894		91,766
Preferred stock	6,144		57		—		6,201
Total	$	674,370	$	7,703	$	1,842	$	680,231

Held-to-maturity Securities

	Investment Securities Held-to-Maturity
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
	(In thousands)
June 30, 2013
State and political subdivisions	$	264,215	$	6,113	$	5,181	$	265,147
Trust preferred securities	10,500		—		4,250		6,250
Total	$	274,715	$	6,113	$	9,431	$	271,397
December 31, 2012
State and political subdivisions	$	219,477	$	8,087	$	3,367	$	224,197
Trust preferred securities	10,500		—		4,775		5,725
Total	$	229,977	$	8,087	$	8,142	$	229,922
June 30, 2012
State and political subdivisions	$	202,534	$	7,751	$	1,108	$	209,177
Trust preferred securities	10,500		—		5,825		4,675
Total	$	213,034	$	7,751	$	6,933	$	213,852

Amortized cost and fair value of debt securities by contractual maturity

The following is a summary of the amortized cost and fair value of investment securities at June 30, 2013, by maturity, for both available-for-sale and held-to-maturity investment securities. The maturities of residential mortgage-backed securities and collateralized mortgage obligations are based on scheduled principal payments. The maturities of all other debt securities are based on final contractual maturity.

	June 30, 2013
	Amortized Cost		Fair Value
	(In thousands)
Investment Securities Available-for-Sale:
Due in one year or less	$	101,422	$	101,999
Due after one year through five years	109,213		110,633
Due after five years through ten years	446,924		443,441
Due after ten years	76,495		76,197
Preferred stock	1,389		1,782
Total	$	735,443	$	734,052
Investment Securities Held-to-Maturity:
Due in one year or less	$	46,155	$	46,148
Due after one year through five years	118,260		119,256
Due after five years through ten years	74,190		75,179
Due after ten years	36,110		30,814
Total	$	274,715	$	271,397

Summary of continuous unrealized loss position of securities

The following schedule summarizes information for both available-for-sale and held-to-maturity investment securities with gross unrealized losses at June 30, 2013, December 31, 2012 and June 30, 2012, aggregated by category and length of time that individual securities have been in a continuous unrealized loss position.

	Less Than 12 Months				12 Months or More				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	(In thousands)
June 30, 2013
Government sponsored agencies	$	58,646	$	400	$	—	$	—	$	58,646	$	400
State and political subdivisions	128,062		4,707		19,378		482		147,440		5,189
Residential mortgage-backed securities	267,211		4,217		257		2		267,468		4,219
Collateralized mortgage obligations	100,469		939		8,083		34		108,552		973
Corporate bonds	4,881		130		19,876		124		24,757		254
Trust preferred securities	—		—		6,250		4,250		6,250		4,250
Total	$	559,269	$	10,393	$	53,844	$	4,892	$	613,113	$	15,285
December 31, 2012
Government sponsored agencies	$	46,103	$	213	$	—	$	—	$	46,103	$	213
State and political subdivisions	70,675		2,257		8,046		1,110		78,721		3,367
Residential mortgage-backed securities	273		1		1,305		8		1,578		9
Collateralized mortgage obligations	19,331		10		36,835		172		56,166		182
Corporate bonds	4,747		253		34,707		286		39,454		539
Trust preferred securities	—		—		5,725		4,775		5,725		4,775
Total	$	141,129	$	2,734	$	86,618	$	6,351	$	227,747	$	9,085
June 30, 2012
Government sponsored agencies	$	30,177	$	61	$	9,516	$	20	$	39,693	$	81
State and political subdivisions	49,355		1,100		8,258		73		57,613		1,173
Residential mortgage-backed securities	13,038		23		19,988		177		33,026		200
Collateralized mortgage obligations	30,651		296		52,335		306		82,986		602
Corporate bonds	49,984		726		14,831		168		64,815		894
Trust preferred securities	—		—		4,675		5,825		4,675		5,825
Total	$	173,205	$	2,206	$	109,603	$	6,569	$	282,808	$	8,775