Investment Securities (Tables)

6 Months Ended

Jun. 30, 2012

Investments, Debt and Equity Securities [Abstract]

Schedule of Securities Available for Sale

The following is a summary of gains and losses on securities available for sale:

	Three Months Ended				Six Months Ended
(Dollars in thousands)	June 30				June 30
	2012		2011		2012		2011
Proceeds from sales	$	8,855	$	19,653	$	42,837	$	61,074
Gross realized gains	6		388		688		1,746
Gross realized losses	5		47		96		56
Net gains from sales	$	1	$	341	$	592	$	1,690
Gross recognized losses related to the credit component of other-than-temporary impairments	$	4	$	85	$	4	$	381

The following is a summary of the amortized cost and fair value of securities available for sale at June 30, 2012 and December 31, 2011:

			Gross Unrealized
(Dollars in thousands)	Amortized Cost		Gains		Losses		Fair Value
June 30, 2012:
U.S. Government sponsored entities	$	78,698	$	625	$	54	$	79,269
Mortgage-backed investments	216,506		5,236		153		221,589
Obligations of states and political subdivisions	60,287		2,980		87		63,180
Collateralized debt obligations	3,132		—		2,282		850
Other debt securities	12,801		38		57		12,782
	$	371,424	$	8,879	$	2,633	$	377,670
December 31, 2011:
U.S. Government sponsored entities	$	58,714	$	174	$	96	$	58,792
Mortgage-backed investments	198,832		5,016		162		203,686
Obligations of states and political subdivisions	51,763		2,459		80		54,142
Collateralized debt obligations	3,137		—		2,318		819
Other debt securities	3,444		25		134		3,335
	$	315,890	$	7,674	$	2,790	$	320,774

Schedule of Securities Available for Sale in a Continuous Loss Position

Provided below is a summary of securities available for sale which were in an unrealized loss position and the length of time that individual securities have been in a continuous loss position at June 30, 2012 and December 31, 2011. Securities on which we have taken only credit-related other-than-temporary-impairment (OTTI) write-downs are categorized as being “less than 12 months” or “12 months or more” in a continuous loss position based on the point in time that the fair value declined to below the amortized cost basis and not the period of time since the OTTI write-down.

(Dollars in thousands)	Less Than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
June 30, 2012:
U.S. Government sponsored entities	$	20,506	$	54	$	—	$	—	$	20,506	$	54
Mortgage-backed investments	20,184		153		—		—		20,184		153
Obligations of states and political subdivisions	7,122		87		—		—		7,122		87
Collateralized debt obligations	—		—		850		2,282		850		2,282
Other debt securities	9,304		32		2,437		25		11,741		57
	$	57,116	$	326	$	3,287	$	2,307	$	60,403	$	2,633
December 31, 2011:
U.S. Government sponsored entities	$	23,734	$	96	$	—	$	—	$	23,734	$	96
Mortgage-backed investments	32,280		162		—		—		32,280		162
Obligations of states and political subdivisions	7,613		80		—		—		7,613		80
Collateralized debt obligations	—		—		819		2,318		819		2,318
Other debt securities	2,317		134		—		—		2,317		134
	$	65,944	$	472	$	819	$	2,318	$	66,763	$	2,790

Schedule of Other than Temporary Impairment Credit Losses Recognized in Earnings

The following table provides a roll forward of the cumulative activity related to credit losses on debt securities for which a portion of an other-than-temporary impairment was recognized in other comprehensive income.

	Three Months Ended				Six Months Ended
(Dollars in thousands)	June 30				June 30
	2012		2011		2012		2011
Beginning balance	$	1,863	$	1,528	$	1,863	$	1,232
OTTI credit losses on previously impaired securities	4		85		4		381
Ending balance	$	1,867	$	1,613	$	1,867	$	1,613

Schedule of Investments Classified by Contractual Maturity

The amortized cost and fair values of debt securities available for sale at June 30, 2012, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay certain obligations with, or without, call or prepayment penalties. Mortgage-backed securities receive monthly payments based on the cash flows of the underlying collateral. Therefore, their stated maturities do not represent the timing of principal amounts received and no maturity distributions are shown for these securities.

(Dollars in thousands)	Amortized Cost		Fair Value
One year or less	$	20,830	$	20,928
After one through five years	80,289		81,765
After five through ten years	38,256		39,740
After ten years	15,543		13,648
	154,918		156,081
Mortgage-backed investments	216,506		221,589
	$	371,424	$	377,670