Securities (Tables)

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Estimated Fair Value of Securities Available for Sale

The amortized cost and estimated fair value of securities available for sale with gross unrealized gains and losses are summarized as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in Thousands)
December 31, 2014:
U.S. Government sponsored agencies	$	14,953	$	-	$	(275	)	$	14,678
State, county and municipal securities		137,873		3,935		(433	)		141,375
Corporate debt securities		10,812		228		-			11,040
Mortgage-backed securities		369,581		6,534		(1,403	)		374,712
Total debt securities	$	533,219	$	10,697	$	(2,111	)	$	541,805
December 31, 2013:
U.S. Government sponsored agencies	$	14,947	$	-	$	(1,021	)	$	13,926
State, county and municipal securities		112,659		2,269		(2,174	)		112,754
Corporate debt securities		10,311		275		(261	)		10,325
Collateralized debt obligations		1,480		-		-			1,480
Mortgage-backed securities		349,441		2,347		(4,038	)		347,750
Total debt securities	$	488,838	$	4,891	$	(7,494	)	$	486,235

Schedule of Gross Unrealized Losses and Fair Value of Securities

The following table shows the gross unrealized losses and estimated fair value of securities aggregated by category and length of time that securities have been in a continuous unrealized loss position at December 31, 2014 and 2013.

	Less Than 12 Months					12 Months or More					Total
Description of Securities	Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
	(Dollars in Thousands)
December 31, 2014:
U. S. Government sponsored agencies	$	-	$	-		$	14,678	$	(275	)	$	14,678	$	(275	)
State, county and municipal securities		15,038		(70	)		19,665		(363	)		34,703		(433	)
Corporate debt securities		-		-			-		-			-		-
Mortgage-backed securities		36,760		(221	)		46,812		(1,182	)		83,572		(1,403	)
Total temporarily impaired securities	$	51,798	$	(291	)	$	81,155	$	(1,820	)	$	132,953	$	(2,111	)
December 31, 2013:
U. S. Government sponsored agencies	$	13,926	$	(1,021	)	$	-	$	-		$	13,926	$	(1,021	)
State, county and municipal securities		47,401		(1,882	)		3,794		(292	)		51,195		(2,174	)
Corporate debt securities		-		-			4,826		(261	)		4,826		(261	)
Collateralized debt obligations		-		-			-		-			-		-
Mortgage-backed securities		94,989		(2,493	)		23,388		(1,545	)		118,377		(4,038	)
Total temporarily impaired securities	$	156,316	$	(5,396	)	$	32,008	$	(2,098	)	$	188,324	$	(7,494	)

Amortized Cost and Fair Value of Debt Securities Available for Sale Securities by Contractual Maturity

The amortized cost and estimated fair value of debt securities available for sale as of December 31, 2014, by contractual maturity are shown below. Maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities may be called or repaid without penalty. Securities not due at a single maturity date are shown separately. Therefore, these securities are not included in the maturity categories in the following maturity summary.

	Amortized Cost		Estimated Fair Value
	(Dollars in Thousands)
Due in one year or less	$	5,693	$	5,757
Due from one year to five years		45,110		46,340
Due from five to ten years		63,043		64,201
Due after ten years		49,792		50,795
Mortgage-backed securities		369,581		374,712
	$	533,219	$	541,805

Gains and Losses on Sales of Securities Available for Sale

Gains and losses on sales of securities available for sale consist of the following:

		December 31,
		2014			2013			2012
		(Dollars in Thousands)
Gross gains on sales of securities	$		141			$ 353			$  420
Gross losses on sales of securities			(3	)		(182	)		(98	)
Net realized gains on sales of securities available for sale	$		138			$ 171			$  322