Securities (Tables)

3 Months Ended

Mar. 31, 2014

Summary the Amortized Cost and Fair Value of Available-for-Sale Investment Securities Corresponding Amounts of Unrealized Gains and Losses

The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolio at March 31, 2014 and December 31, 2013 and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive income (loss):

			Gross		Gross
(In Thousands of Dollars)	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
March 31, 2014
U.S. Treasury and U.S. government sponsored entities	$	49,229	$	646	$	(317	)	$	49,558
State and political subdivisions		95,823		1,803		(1,917	)		95,709
Corporate bonds		1,642		1		(11	)		1,632
Mortgage-backed securities - residential		230,785		1,713		(3,428	)		229,070
Collateralized mortgage obligations		29,263		145		(1,443	)		27,965
Small business administration		25,215		1		(1,721	)		23,495
Equity securities		118		79		(1	)		196
Totals	$	432,075	$	4,388	$	(8,838	)	$	427,625

			Gross		Gross
(In Thousands of Dollars)	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
December 31, 2013
U.S. Treasury and U.S. government sponsored entities	$	50,942	$	755	$	(387	)	$	51,310
State and political subdivisions		96,239		1,302		(2,807	)		94,734
Corporate bonds		1,540		0		(15	)		1,525
Mortgage-backed securities - residential		226,865		1,199		(5,084	)		222,980
Collateralized mortgage obligations		30,227		162		(1,713	)		28,676
Small business administration		25,592		1		(2,020	)		23,573
Equity securities		117		70		0			187
Totals	$	431,522	$	3,489	$	(12,026	)	$	422,985

Amortized Cost and Fair Value of the Debt Securities Maturity

The amortized cost and fair value of the debt securities portfolio are shown by expected maturity. Expected maturities may differ from contractual maturities if issuers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.

	March 31, 2014
(In Thousands of Dollars)	Amortized Cost		Fair Value
Maturity
Within one year	$	12,900	$	13,033
One to five years		78,006		78,617
Five to ten years		44,660		44,493
Beyond ten years		11,128		10,756
Mortgage-backed, collateralized mortgage obligations and small business administration securities		285,263		280,530
Total	$	431,957	$	427,429

Investment Securities with Unrealized Losses

The following table summarizes the investment securities with unrealized losses at March 31, 2014 and December 31, 2013, aggregated by major security type and length of time in a continuous unrealized loss position.  Unrealized losses for equity securities rounded to less than $1 thousand in 2013.

	Less than 12 Months					12 Months or Longer					Total
(In Thousands of Dollars)	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
March 31, 2014
Available-for-sale
U.S. Treasury and U.S. government sponsored entities	$	21,400	$	(317	)	$	0	$	0		$	21,400	$	(317	)
State and political subdivisions		19,866		(669	)		12,936		(1,248	)		32,802		(1,917	)
Corporate bonds		351		(1	)		475		(10	)		826		(11	)
Mortgage-backed securities - residential		106,280		(2,453	)		26,649		(975	)		132,929		(3,428	)
Collateralized mortgage obligations		5,208		(414	)		15,610		(1,029	)		20,818		(1,443	)
Small business administration		2,018		(129	)		21,391		(1,592	)		23,409		(1,721	)
Equity securities		19		(1	)		0		0			19		(1	)
Total	$	155,142	$	(3,984	)	$	77,061	$	(4,854	)	$	232,203	$	(8,838	)

	Less than 12 Months					12 Months or Longer					Total
(In Thousands of Dollars)	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
December 31, 2013
Available-for-sale
U.S. Treasury and U.S. government sponsored entities	$	20,776	$	(387	)	$	0	$	0		$	20,776	$	(387	)
State and political subdivisions		34,851		(1,855	)		7,492		(952	)		42,343		(2,807	)
Corporate bonds		1,052		(2	)		473		(13	)		1,525		(15	)
Mortgage-backed securities - residential		141,024		(3,735	)		27,026		(1,349	)		168,050		(5,084	)
Collateralized mortgage obligations		5,283		(450	)		15,726		(1,263	)		21,009		(1,713	)
Small business administration		6,927		(491	)		16,520		(1,529	)		23,447		(2,020	)
Equity securities		7		0			0		0			7		0
Total	$	209,920	$	(6,920	)	$	67,237	$	(5,106	)	$	277,157	$	(12,026	)