Investment Securities (Tables)

3 Months Ended

Mar. 31, 2013

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
(Dollars in thousands)	March 31
	2013		2012
Proceeds from sales	$	6,141	$	33,982
Gross realized gains	54		682
Gross realized losses	38		91
Net gains from sales	$	16	$	591
Gross recognized losses related to the credit component of other-than-temporary impairments	$	—	$	—

The following is a summary of the amortized cost and fair value of securities available for sale at March 31, 2013 and December 31, 2012:

			Gross Unrealized
(Dollars in thousands)	Amortized Cost		Gains		Losses		Fair Value
March 31, 2013:
U.S. Government sponsored entities	$	88,904	$	913	$	42	$	89,775
Mortgage-backed investments	193,714		5,076		143		198,647
Obligations of states and political subdivisions	70,950		2,940		416		73,474
Collateralized debt obligations	3,108		—		2,152		956
Other debt securities	14,003		212		16		14,199
	$	370,679	$	9,141	$	2,769	$	377,051
December 31, 2012:
U.S. Government sponsored entities	$	71,645	$	993	$	23	$	72,615
Mortgage-backed investments	185,317		5,324		78		190,563
Obligations of states and political subdivisions	68,445		3,170		154		71,461
Collateralized debt obligations	3,108		—		2,162		946
Other debt securities	12,758		219		—		12,977
	$	341,273	$	9,706	$	2,417	$	348,562

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 March 31, 2013 and December 31, 2012. 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
March 31, 2013:
U.S. Government sponsored entities	$	7,956	$	42	$	—	$	—	$	7,956	$	42
Mortgage-backed investments	25,397		143		—		—		25,397		143
Obligations of states and political subdivisions	16,089		410		324		6		16,413		416
Collateralized debt obligations	—		—		956		2,152		956		2,152
Other debt securities	1,257		16		—		—		1,257		16
	$	50,699	$	611	$	1,280	$	2,158	$	51,979	$	2,769
December 31, 2012:
U.S. Government sponsored entities	$	5,478	$	23	$	—	$	—	$	5,478	$	23
Mortgage-backed investments	13,866		77		880		1		14,746		78
Obligations of states and political subdivisions	11,015		154		—		—		11,015		154
Collateralized debt obligations	—		—		946		2,162		946		2,162
Other debt securities	—		—		—		—		—		—
	$	30,359	$	254	$	1,826	$	2,163	$	32,185	$	2,417

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
(Dollars in thousands)	March 31
	2013		2012
Beginning balance	$	1,892	$	1,863
OTTI credit losses on previously impaired securities	—		—
Ending balance	$	1,892	$	1,863

Schedule of Investments Classified by Contractual Maturity

The amortized cost and fair values of debt securities available for sale at March 31, 2013, 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	$	25,986	$	26,173
After one through five years	91,430		93,421
After five through ten years	46,356		47,297
After ten years	13,193		11,513
	176,965		178,404
Mortgage-backed investments	193,714		198,647
	$	370,679	$	377,051