Investment Securities (Tables)

9 Months Ended

Sep. 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					Nine Months Ended
(Dollars in thousands)	September 30					September 30
	2012			2011		2012		2011
Proceeds from sales	$	15,954		$	28,430	$	49,936	$	89,504
Gross realized gains	—			463		688		2,209
Gross realized losses	27			3		123		59
Net gains (losses) from sales	$	(27	)	$	460	$	565	$	2,150
Gross recognized losses related to the credit component of other-than-temporary impairments	$	25		$	200	$	29	$	581

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

			Gross Unrealized
(Dollars in thousands)	Amortized Cost		Gains		Losses		Fair Value
September 30, 2012:
U.S. Government sponsored entities	$	71,883	$	952	$	2	$	72,833
Mortgage-backed investments	197,675		6,108		124		203,659
Obligations of states and political subdivisions	60,512		3,334		30		63,816
Collateralized debt obligations	3,108		—		2,253		855
Other debt securities	12,779		257		11		13,025
	$	345,957	$	10,651	$	2,420	$	354,188
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 September 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
September 30, 2012:
U.S. Government sponsored entities	$	1,499	$	2	$	—	$	—	$	1,499	$	2
Mortgage-backed investments	11,550		124		—		—		11,550		124
Obligations of states and political subdivisions	3,489		30		—		—		3,489		30
Collateralized debt obligations	—		—		855		2,253		855		2,253
Other debt securities	—		—		2,453		11		2,453		11
	$	16,538	$	156	$	3,308	$	2,264	$	19,846	$	2,420
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				Nine Months Ended
(Dollars in thousands)	September 30				September 30
	2012		2011		2012		2011
Beginning balance	$	1,867	$	1,613	$	1,863	$	1,232
OTTI credit losses on previously impaired securities	25		200		29		581
Ending balance	$	1,892	$	1,813	$	1,892	$	1,813

Schedule of Investments Classified by Contractual Maturity

The amortized cost and fair values of debt securities available for sale at September 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	$	15,433	$	15,594
After one through five years	80,991		82,995
After five through ten years	36,392		38,213
After ten years	15,466		13,727
	148,282		150,529
Mortgage-backed investments	197,675		203,659
	$	345,957	$	354,188